Endeavor Q2 revenue increases 34.1%, driven by owned sports properties
Revenue was also increased in part by Endeavor’s acquisition of WWE that took place in September 2023.
Endeavor Group Holdings (Endeavor) has released the second quarter financial results from the company, including revenue generated by a number of sporting events presented throughout the quarter.
“TKO and PBR benefited from strong consumer demand and engagement during the quarter, and we continued to drive growth in our representation segment,” Endeavor CEO Ariel Emanuel said.
“We remain focused on delivering for our clients and partners and maintaining momentum throughout the business as we work toward the close of our take-private transaction with Silver Lake.”
Total revenue for the company during Q2 2024 was $1.75bn, a 34.1% increase from the prior year period. Endeavor did experience a net loss during the quarter as well, however, with a reported loss of $253.8m for Q2 2024 as compared to the $666.5m it had generated in net income during Q2 2023.
As part of the Silver Lake take-private transaction announced in April 2024, the company disclosed its intent to “transfer, divest or sell certain business units or assets excluding TKO and any of its subsidiaries and the agency representation business WME.”
Adjusted EBITDA increased substantially, though, having been reported to be $380.7m during the second quarter, a 110.1% rise from the prior year period.
Owned Sports Properties segment revenue was $894.1m for the quarter, up 162.9% compared to the second quarter of 2023. The increase was primarily attributed to the acquisition of WWE in September 2023, which contributed $457m during the second quarter.
Growth across Owned Sports Properties was also driven by outperformance of marquee live events including WrestleMania 40, UFC 300 and UFC 303.
Events, Experiences and Rights segment revenue was reported to be $472.2m for Q2 2024, a decrease of 20.1% from the prior year period. Segment revenue was said to be primarily impacted by a decrease of $91m from the sale of IMG Academy in June 2023, as well as by the timing of certain events including the Miami Open.
Finally, Endeavor’s Representation segment revenue was $411.4m during the second quarter of 2024, up 7.9% compared to Q2 2023.
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