WWE brought in $620.9 million in revenue during the second quarter of 2026, a 12% increase from the $556.2 million reported in the same period last year, according to TKO Group Holdings’ earnings release published Monday.
Adjusted EBITDA for the WWE segment rose 12% as well, hitting $368.3 million compared to $329.8 million a year earlier. The segment’s Adjusted EBITDA margin held steady at 59% in both periods.
Media rights, production and content revenue led the growth, jumping $80.8 million to $359.7 million. TKO credited the increase primarily to higher media rights fees tied to the new ESPN distribution agreement that began in September 2025.
Consumer products licensing and other revenue climbed $12.7 million, driven by sales of WWE branded trading cards and collectibles. Partnerships and marketing revenue grew a smaller $4.9 million on new partners and renewal fees.
Live Event Revenue Dips on WrestleMania Comp
The one soft spot was live events and hospitality revenue, which fell $33.7 million to $152.0 million. TKO attributed the drop almost entirely to ticket sales tied to WrestleMania 42 in Las Vegas, which the company is now comping against from the prior year period.
On expenses, WWE’s direct operating costs rose on higher talent and production costs, while selling, general and administrative expenses increased due to travel costs tied to a growing international events slate.
Company-wide, TKO reported $1.547 billion in total revenue for the quarter, up 18%, with net income of $303.9 million. The company raised its full year 2026 guidance to a range of $5.775 billion to $5.825 billion in revenue and $2.275 billion to $2.305 billion in Adjusted EBITDA, up from the $5.675 billion to $5.775 billion range issued back in February.
TKO also noted that companywide SG&A costs increased due in part to legal fees and settlement costs tied to ongoing stockholder litigation related to WWE. The company’s non-GAAP reconciliation shows $25.6 million in professional fees tied to that litigation for the quarter alone.
TKO will host a conference call at 5:00 p.m. ET today to discuss the full results in further detail.
