WWE Q1 2025 financial results, notes & insights

The following are news and notes from Thursday’s release of TKO financials, taking a look back at Q1 for WWE, UFC and their other companies. Overall TKO revenue increased to $1.269 billion, a 4% year-over-year increase of $46.4 million. Any interesting news and notes from the Q&A section will be added within the hour. WWE finished the first quarter at $391.5 million, up $74.8 million from Q1 of 2024 ($316.7 million). Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) finished at $193.9 million, up from Q1’s $140.2 million. The revenue breakdown was as follows: $251.6 million in media rights, production and content, up from Q1’s $221.1 million. This was powered by the “timing of the previously disclosed format expansion” of SmackDown which is assumed to be their increase to three hours in addition to the first quarter of their Netflix deal. $76.3 million in live events & hospitality, up from Q1’s $50.2 million, attributed to higher ticket revenue (price increase and atten