UFC delivered double-digit gains across all key metrics in the third quarter, driving its parent company, TKO, to raise its full-year financial guidance after a series of sellout events.
UFC Sellouts Drive TKO Financial Growth
- TKO reported total revenue of $1.36 billion for the third quarter, representing a 21% increase year-over-year.
- UFC revenue climbed 60% to $519.2 million, powered by growth in media rights, live events, hospitality, and partnerships.
- Adjusted EBITDA spiked 54% to $555.7 million, with the Adjusted EBITDA margin expanding to 41% compared to 32% in the prior-year period.
Revenue Drivers Across TKO Portfolio
UFC entered the third quarter with strong momentum, utilizing a calendar packed with sellout events to push league revenue and adjusted earnings to new heights. The division’s 60% revenue surge to $519.2 million was supported by a $132.3 million increase in media rights, production, and content revenue.
Additional financial contributions came from live events and hospitality, which spiked by $36 million. Partnerships and marketing added another $20.5 million, while consumer products licensing and related revenue brought an extra $5.2 million boost.
Meanwhile, WWE experienced a tougher comparative quarter, partly due to the timing of three additional main-roster events in the same period a year earlier. Despite this scheduling headwind, the broader TKO ecosystem—which includes IMG and the On Location premium events business—benefited from major fixtures such as big-ticket gatherings surrounding the World Cup.
| Financial Metric | Q3 Total | Year-Over-Year Change |
|---|---|---|
| Total Revenue | $1.36 billion | +21% |
| UFC Revenue | $519.2 million | +60% |
| Adjusted EBITDA | $555.7 million | +54% |
| Adjusted EBITDA Margin | 41% | Up from 32% |
Full-Year Guidance Adjustments
Our third quarter performance reflects the secular tail winds powering live events and experiences around the world, and TKO’s assets sit front and center of that premium ecosystem,
said Mark Shapiro, president and COO of TKO. As we close out what we’ve called our year of execution, our decision to raise full-year guidance for the second time this year is the clearest expression of our conviction across the entire portfolio.
Shapiro noted that the company’s business remains durable and fundamentals are solid, pointing out that the vast majority of existing revenues are locked in for the next five to seven years. Backed by favorable macroeconomic trends and rising sports consumption globally, TKO increased its full-year targets.
The company now projects full-year revenue between $5.790 billion and $5.830 billion, alongside an adjusted EBITDA target ranging from $2.295 billion to $2.315 billion.
