The figures testify to TKO's robustness: sales of $642.2 million (+5%), boosted by a $61.1 million increase on the UFC side, reaching $343.9 million. However, this increase was slightly tempered by a 32.9 million decline in WWE sales, mainly due to the transition of the flagship Raw program.

Net income jumped to $47.5 million, a spectacular reversal of last year's loss of $16.1 million. This improvement is based on higher sales, combined with lower operating expenses, notably lower administrative costs and reduced depreciation.

A strategic repositioning that pays off

The year 2024 marked a turning point in TKO's strategy with the transfer of WWE Raw to Netflix, a major growth lever that places the program at the heart of a potential audience of 300 million subscribers. This repositioning is paying off, with Raw now regularly featuring in Netflix's weekly Top 10 in the US and internationally.

Other adjustments have also paid off: SmackDown migrated to USA Network and NXT to CW, recording a 100% increase in quarterly audience on the latter channel.

As for live events, the UFC and WWE broke records with historic ticket sales and revenues. The UFC has signed ten of the most profitable events in its history, while the WWE has generated record revenues for ten of its premium events.

Sponsorship followed the same upward trajectory, with revenue growth of 28% for the UFC and 20% for the WWE.

2025: between consolidation and caution

Despite these solid performances, forecasts for 2025 remain below expectations: sales of between $2.93 and $3 billion, against a consensus of $3.27 billion. Adjusted EBITDA is forecast at between $1.35 and $1.39 billion.

The year will therefore be one of consolidation, with several key strategic axes:

Renewal of national broadcasting rights for UFC and WWE. Finalization of the acquisition of IMG, On Location and PBR in the first quarter. Return of capital program with a $2 billion share buyback. Inaugural quarterly dividend of $75 million, payable from March 31, 2025.

Settlement of the $375 million UFC antitrust litigation continues, with payments scheduled over three quarters.

An optimized financing strategy

To support its ambitions, TKO refinanced its debt in November 2024, taking out a seven-year term loan of $2.75 billion and a five-year line of credit of $205 million.

While forecasts for 2025 are more measured, TKO Group Holdings remains a key player in the sports and entertainment industry, thanks to its ability to innovate and capitalize on its portfolio of prestigious brands.