UFC's Financial Triumph: parent company TKO discloses massive revenue for first half of 2023
The merger between UFC and WWE has culminated in the creation of a dynamic sports and entertainment powerhouse, officially known as TKO Group Holdings. The newly formed entity commenced trading on the New York Stock Exchange (NYSE) under the 'TKO' ticker symbol starting in September.
The sports and entertainment conglomerate recently made its first significant financial disclosure to the Securities and Exchange Commission (SEC), providing a comprehensive overview of the MMA organization's earnings for the years 2022 and 2023.
In this detailed breakdown, TKO Group Holdings shared financial data encompassing the merged promotions. According to MMA reporter Jed I. Goodman's findings that were shared on X (formerly Twitter), the UFC reported impressive revenue figures across various categories through the first two quarters of 2023.
Media rights and content, primarily driven by UFC's partnership with ESPN, emerged as the highest earner, bringing in $224.1 million in the first quarter and $211.7 million in the second quarter. Live events contributed $63.8 million, sponsorships accounted for $54.2 million in revenue for the first half of 2023, and consumer product licensing generated $18.1 million in earnings.
Check out the balance sheet below:
According to the financial reports unveiled on Wednesday, WWE is also experiencing a successful year, generating $707.9 million in revenue during the initial two quarters of 2023. WWE experienced an initial 11 percent decline in revenue in the first quarter of 2023 compared to the previous year, but it rebounded strongly with a remarkable 25 percent year-over-year increase in the second quarter.
UFC's financial success sparks controversy over fighter pay
In response to the recent disclosure of UFC's financial growth under its parent company, TKO Group Holdings, fans were swift to express their reactions. The MMA community's prevailing sentiment revolved around deep concerns about fighter compensation within the promotion.
One fan wrote:
"How much do they give to the fighters?"
Another wrote:
"Meanwhile fighters are working part time jobs while being a top 15 fighter."
Check out some more reactions below:
"PAY FIGHTERS MORE WTF?!"
"So they are under paying the fighter’s!🤔🤔🤔"
"But too cheap to pay its fighters."
"Genuinely where the fu*k is all the money going?? 😭"
"Somethings really wrong when you read this and read about fighters getting a pitance"
