Endeavor reports 80% growth in its sports data and technology revenue

February 28, 2024
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The company recently completed its WWE acquisition deal.

Global sports and entertainment company Endeavor has published its fourth quarter and full year 2023 financial results.

Its sports data and technology revenue grew by 5% when compared to results from the previous year’s quarter and reached $113.6m.

For the fiscal year, segment revenue totaled $469.8m, reflecting an 80% increase year-over-year.

Endeavor said the substantial boost in revenue “growth was driven by the inclusion of OpenBet,” which the company gained in the fall of 2022. The company also attributed the increase to growth in its IMG Arena streaming portfolio and betting data.

Adjusted EBITDA from its sports data and technology segment reached $20.5m for the quarter and $62.7m for the year.

During the fiscal year, the company successfully closed its acquisition deal of WWE and launched TKO Group Holdings.

Other highlights for the year included Endeavor’s sale of its IMG Academy. The company closed the sale at an enterprise value of $1.25bn.

During the year, Endeavor also put a capital return program in place that included share repurchases and an ongoing quarterly cash dividend.

Company CEO Ariel Emanuel described 2023 as a “transformational year.”

Emanuel elaborated further by saying, “2023 was a transformational year for Endeavor as we strengthened our positions in sports and entertainment through many of our industry-leading assets. Endeavor’s work with TKO to secure innovative media rights deals and landmark partnership agreements is proving our thesis, and we continue to benefit from demand for premium content and live experiences.

“We remain focused on maximizing shareholder value through quarterly dividend payments and our evaluation of strategic alternatives.”

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