TKO Group Holdings announced a revenue of $1.308 billion for the second quarter of 2025 ($526.6 million adjusted EBITDA), a 10 percent increase in comparison to the same period of last year.
The numbers reflect significant growth from WWE along with success on the UFC side of the business, results CEO Ari Emanuel considered “strong,” per a press release issued Wednesday.
WWE sees a 22 percent revenue increase
WWE generated $556 million ($329 million Adjusted EBITDA) in revenue during the second quarter of 2025, 22 percent more than what they saw in the same period of 2024 ($456 million).
Media rights continue to be WWE’s bread and butter, bringing in a total of $278 million in Q2, $18 million more than what was earned in last year’s second quarter. The press release noted specifically that their new partnership with Netflix was among the reasons why the increase was seen.
The company saw a significant jump in their “live events and hospitality” sector of business, recording more than $40 million than what they did during the same timeframe in 2024, a total of $185 million. This was attributed to “higher ticket sales revenue,” plus an increase in site fee revenue.
Revenue from partnerships and marketing more than doubled, going from $24 million to $58 million for WWE, a growth the company says came due to new clients being brought in, as well as renewals with existing partners.
“Consumer products licensing and other” also saw a slight jump, going up to $33 million from $27 million due to video game revenue and merchandising.
The earnings report comes amid the recent news that WWE has struck a reportedly huge $1.6 billion deal to air Premium Live Events (PLEs) on ESPN for the next five years, beginning in 2026. The figure, reported first by the Wall Street Journal, is an increase in comparison to what the promotion earned for their previous deal with NBCUniversal’s Peacock.
UFC records five percent increase, IMG offsets some growth
Growth was also seen on the UFC side of the business, albeit not as big as what WWE recorded. A five percent increase in revenue was recorded during Q2, up to a total of $415 million ($244 million Adjusted EBITDA). While media rights remain strong near the tail-end of the promotion’s multi-year deal with ESPN/Disney, bringing in $260 million, and an expansion of the promotion’s partnerships and marketing saw them earn $85 million, revenue from live events suffered a dip, down $11 million from Q2 2024, partially offsetting their overall gains.
A press release said that the smaller figure in live event revenue, a $11 million decline, came due to “a decrease in site fee revenues, related to the timing and mix of international events, compared to the year prior.”
“Consumer products and licensing” was also down to $11 million.
IMG and On Location generated $306 million in revenue, a four percent drop in comparison to the $319 million brought in during the second quarter of 2024 ($29 million Adjusted EBITDA). The “Corporate and Other,” including the Professional Bull Riders and boxing investments, recorded $44 million in revenue, a nine percent increase.
