WWE confirms the television status of RAW for the 4th quarter of 2024

The following press release was sent out by TKO…

TKO Reports First Quarter 2024 Results
Updates Full Year 2024 Guidance
TKO Transaction Highlights

On September 12, 2023, Endeavor and WWE closed the transaction to combine UFC and WWE to form a new, publicly listed company, TKO Group Holdings, Inc. Reported results presented in this earnings release prior to September 12, 2023 reflect only UFC activity.

First Quarter 2024 Financial Highlights

• Revenue of $629.7 million

• Net loss of $249.5 million

• Adjusted EBITDA’ of $282.2 million

First Quarter 2024 Operational Highlights and Recent Developments

• UFC held 11 events, including five with live audiences, that consistently delivered strong viewership and attendance and set several all-time records for gross revenue at the respective arenas

• In April, UFC 300 was one of the most successful and highest-grossing events in UFC history with a gate of $16.5 million and attendance of 20,067 at T-Mobile Arena in Las Vegas

• WWE held 47 events, including two premium live events. Each WWE premium live event (Royal Rumble and Elimination Chamber) delivered all-time records for gross revenue and viewership for the respective event

• WWE entered into a long-term media rights agreement with Netflix for Raw beginning in January 2025; subsequently, WWE entered into a $25 million domestic media rights agreement with NBCUniversal for Raw to remain on USA Network for the fourth quarter of 2024

• In April, WrestleMania XL was held at Lincoln Financial Field in Philadelphia over two consecutive nights in front of a combined 145,298 fans. WrestleMania XL was the highest-grossing event in WWE history, increasing 78% as compared to the previous record set at WrestleMania 39. Prime Hydration, the exclusive “Official Hydration Drink Partner” of WWE, became the first partner to ever appear on the center of the WWE ring

• TKO reached an agreement to settle all claims asserted in both UFC antitrust lawsuits for an aggregate amount of $335 million. The settlement is payable in installments and is anticipated to be deductible for tax purposes

Full Year 2024 Guidance

• The Company increased its target for revenue to $2.610 billion to $2.685 billion

• The Company increased its target for Adjusted EBITDA to $1.185 billion to $1.205 billion

• The Company revised its target for Free Cash Flow Conversion to in excess of 40%