TKO Group Holdings continues to ride a wave of major media rights deals to stronger growth, with Paramount’s lucrative new deal with the UFC officially kicking off in Q1.
The company, which owns UFC, WWE, IMG and other brands like On Location and PBR, revealed that in Q1 it had revenue of $1.6 billion (up 26 percent), net income of $250 million, and adjusted EBITDA of $550 million (up 32 percent). The company also disclosed a plan to increase its share buybacks by $1 billion.
“TKO is off to a formidable start in 2026, with strong results and continued momentum across each of our businesses,” said Ariel Emanuel, executive chair and CEO of TKO. “We are reaffirming our full-year guidance, and today’s incremental $1 billion share repurchase authorization underscores our conviction in TKO and its long-term value.”
At UFC, revenue soared by 12 percent to $401 million, driven by a $51 million surge in media rights (thanks to the new Paramount agreement), offset by a $10 million decrease in live events and hospitality. Partnerships and marketing revenue rose by $3 million.
At WWE, revenue rose by 22 percent to $476 million, led by a $47 million increase in live events and hospitality and a $30 million boost in media rights. Partnerships, marketing and product licensing were also up year over year.
IMG revenue rose by 38 percent to $655 million, driven almost entirely by a $179 million boost in live events and hospitality, given On Location’s work at the 2026 Olympics. Corporate and other revenue rose by 36 percent to $74 million, driven by increased revenue at PBR and the launch of the new Zuffa boxing effort.
The company also reaffirmed its guidance for the year, with a handful of major events set to make waves, including the UFC event at the White House, and the FIFA World Cup, where On Location will once again offer hospitality.
“TKO’s first quarter results reflect the strength and durability of our premium IP. Our media rights
portfolio is firmly in place, our financial incentive packages continue to scale, and demand for our
premium live events and experiences is healthy,” said Mark Shapiro, president and COO of TKO. “With
UFC Freedom 250 at the White House and On Location’s FIFA World Cup partnership, TKO will take
center stage this summer, crowning moments for audience growth, cultural relevance, and our business
trajectory.”
