TKO Group Holdings, the parent company of WWE and UFC, announced robust second-quarter financial results for 2025, highlighted by record performances from both the WWE and UFC divisions, and raised its full-year revenue and earnings guidance. This sets a bullish tone for WWE’s ongoing growth and signals exciting developments in its partnership with ESPN, including a new multiyear domestic rights agreement for WWE’s premium live events.
According to the official press release distributed on August 6, 2025, TKO Group reported Q2 revenue of $1.308 billion, with net income reaching $273.1 million and an adjusted EBITDA of $526.5 million. These figures surpass prior quarters, demonstrating the company’s successful expansion and consolidation efforts following its acquisition of IMG, On Location, and Professional Bull Riders earlier this year. TKO notably increased its full-year 2025 revenue guidance to between $4.63 billion and $4.69 billion, with adjusted EBITDA projections revised upward to between $1.54 billion and $1.56 billion.
Ariel Emanuel, Executive Chair and CEO of TKO, credited the group’s live content and experiences as key drivers behind the impressive financial metrics. “Our live content and experiences are proving a key differentiator for organizations and brands looking to capture audience, and our strategy is tailor made for today’s experience economy and the white-hot sports event marketplace,” Emanuel stated during the earnings announcement call. He emphasized the continued momentum across WWE and UFC as critical to exceeding prior expectations.
WWE, within TKO’s portfolio, continues to build on its brand strength, capitalizing on expanding media partnerships. A major highlight revealed in the Q2 update was the announcement of a new multiyear domestic rights agreement with ESPN for WWE’s premium live events. This deal ensures WWE’s marquee pay-per-view shows and other premium content will be showcased on ESPN’s extensive platforms, broadening WWE’s reach among mainstream sports audiences. According to WWE.com and confirmed in coverage from Fightful, this partnership aims to integrate WWE content more deeply into ESPN’s programming lineup, potentially including expanded live broadcasts and digital content distribution.
This strategic alliance with ESPN is a pivotal component of WWE’s broader content strategy as the company seeks to solidify its position within the competitive sports entertainment ecosystem. Sources close to WWE informed Wrestling Headlines that backstage, talent and executives are optimistic about the increased exposure and production investments this collaboration is expected to bring, which could translate to enhanced storylines and higher production values in WWE programming.
The quarter also marked the full integration of certain IMG businesses and other acquired entities into TKO’s reporting segments, further diversifying revenue streams beyond traditional wrestling and MMA events. This acquisition positions TKO as a major player not only in combat sports but in premium experiential hospitality and global sports marketing — all sectors with substantial growth opportunities in today’s market.
Financial analysts tracking TKO, as reported by Marketscreener and Stock Titan, noted that the company’s Q2 earnings per diluted share reached $1.17, significantly up from $0.72 in the previous year and ahead of Wall Street expectations. This stock market performance reflects investor confidence in TKO’s operational execution and strategic vision encompassing WWE content expansion and cross-platform monetization.
Industry insiders anticipate that WWE’s increased focus on premium live events and ESPN collaboration will drive significant growth in WWE Network subscriptions and pay-per-view purchases, setting the stage for a strong second half of 2025. As Ariel Emanuel remarked, “Given the continued momentum across our portfolio and our overall business outlook, we are raising our guidance for the full year.”
WWE’s Q2 performance and the broader success of TKO Group underscore a significant shift in how sports entertainment companies leverage media rights, live event experiences, and strategic acquisitions to grow revenue in an evolving digital landscape. With TKO’s integrated business model spanning UFC, WWE, IMG, and other ventures, the company appears well-positioned to capture increasing market share in premium sports and entertainment content globally.
For further details, investors and fans can access the full earnings release and webcast on TKO Group’s official investor relations site at investor.tkogrp.com.
Sources: WWE.com, Fightful, Wrestling Headlines, TKO Group Holdings Q2 2025 Earnings Press Release, Ariel Emanuel Earnings Call, Marketscreener, Stock Titan.