TKO Group, the parent company of WWE and UFC, held an investor call on February 26, 2025, to discuss financial performance and strategic plans.
Key topics included WWE’s expanding global events, media rights negotiations, and financial outlook.
WWE Premium Live Events and Media Rights
• TKO CFO Andrew Schleimer revealed that Saudi Arabia will host three WWE Premium Live Events (PLEs) in 2026, including the Royal Rumble. One PLE is also scheduled for Saudi Arabia in 2025.
• WWE’s media rights deal with Peacock is set to expire in March 2026. TKO executives are evaluating new distribution opportunities.
Viewership Growth and Content Expansion
• Since moving from USA Network to Netflix in early 2025, Monday Night Raw has seen a 13% increase in viewership. NXT has also experienced strong audience growth on The CW Network.
• WWE President Nick Khan stated that Netflix is actively exploring additional WWE programming.
Financial Performance
• WWE reported $1.398 billion in revenue for 2024, though Q4 revenue declined by $33 million year-over-year to $298.3 million due to transitional media deals.
• Adjusted EBITDA for WWE in Q4 was $114.3 million, reflecting a 19% decrease from the previous year.
• TKO Group’s overall Q4 2024 revenue was $642.2 million, with UFC helping to balance WWE’s decline.
Cash Dividend and Future Projections
• TKO announced its first quarterly cash dividend of $0.38 per share, totaling $75 million, payable on March 31, 2025.
• The company projects total revenue between $2.93 billion and $3 billion for 2025, with adjusted EBITDA estimated between $1.35 billion and $1.39 billion.
TKO’s investor call highlighted WWE’s continued international expansion, growing streaming presence, and strategic efforts to secure long-term media rights deals amid revenue fluctuations.
