TKO Q3 2025 Financial Results
TKO, the parent company of WWE, released its financial report for the quarter ending September 30, 2025. Below is a summary of the key data and insights from their third-quarter performance.
Revenue Growth
WWE’s revenue rose by 23%, an increase of $75.8 million, reaching a total of $402.1 million. This growth was driven by several key areas:
- Live events and hospitality revenue increased by $31.4 million, mainly due to higher ticket sales and site fees from the first-ever two-night Summerslam and Wrestlepalooza events.
- Media rights, production, and content revenue grew by $21.5 million, attributed to higher rights fees for WWE’s premium live events.
- Partnerships and marketing revenue rose by $18.2 million, supported by new partners and increased fees from renewals.
Adjusted EBITDA and Expenses
TKO reported an adjusted EBITDA increase of 19%, or $32.5 million, totaling $207.8 million. The company explained this improvement was mainly due to higher revenue, partially offset by rising expenses.
- Direct operating expenses increased, driven by higher costs for talent, production, marketing, and other event-related activities.
- Selling, general, and administrative expenses grew due to increased travel costs.
"The adjusted EBITDA increase reflects our revenue growth, partially offset by higher expenses related to talent, production, marketing, and travel."
TKO emphasized the solid performance from WWE’s live events and content distribution as key contributors to its financial results.
Summary
TKO’s Q3 2025 results show robust revenue growth fueled by live events, media rights, and partnerships, alongside rising operational costs that moderated profit gains.
Author’s summary: TKO’s Q3 2025 earnings highlight strong WWE revenue growth driven by live events and media rights, with profit margins tempered by increased operating and administrative expenses.
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