v3.25.1
REVENUE
 3 Months Ended
Mar. 31, 2025
REVENUE [Abstract]  
REVENUE

4. REVENUE

 

The Company derives its revenue principally from the following sources: (i) media rights and content fees associated with the distribution of content, (ii) ticket sales at live events, hospitality sales and site fees, (iii) partnerships and marketing, and (iv) consumer product licensing and other.

Disaggregated Revenue

The following table presents the Company’s revenue disaggregated by primary revenue sources (in thousands):

 

 

For the Three Months Ended March 31, 2025

 

 

UFC

 

 

WWE

 

 

IMG

 

 

Corp & Other

 

 

Total

 

Media rights, production and content

 

$

224,097

 

 

$

251,615

 

 

$

161,306

 

 

$

3,308

 

 

$

640,326

 

Live events and hospitality

 

 

58,623

 

 

 

76,279

 

 

 

288,386

 

 

 

33,393

 

 

 

456,681

 

Partnerships and marketing

 

 

64,344

 

 

 

25,577

 

 

 

22,335

 

 

 

12,113

 

 

 

124,369

 

Consumer products licensing and other

 

 

12,683

 

 

 

38,069

 

 

 

4,241

 

 

 

5,563

 

 

 

60,556

 

Eliminations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(13,132

)

Total revenue

 

$

359,747

 

 

$

391,540

 

 

$

476,268

 

 

$

54,377

 

 

$

1,268,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended March 31, 2024

 

 

UFC

 

 

WWE

 

 

IMG

 

 

Corp & Other

 

 

Total

 

Media rights, production and content

 

$

214,462

 

 

$

221,107

 

 

$

177,481

 

 

$

6,193

 

 

$

619,243

 

Live events and hospitality

 

 

35,277

 

 

 

50,192

 

 

 

353,146

 

 

 

30,020

 

 

 

468,635

 

Partnerships and marketing

 

 

48,603

 

 

 

13,815

 

 

 

12,978

 

 

 

10,881

 

 

 

86,277

 

Consumer products licensing and other

 

 

14,648

 

 

 

31,607

 

 

 

6,047

 

 

 

5,135

 

 

 

57,437

 

Eliminations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(9,144

)

Total revenue

 

$

312,990

 

 

$

316,721

 

 

$

549,652

 

 

$

52,229

 

 

$

1,222,448

 

 

 

Remaining Performance Obligations

The transaction price related to the Company’s future performance obligations does not include any variable consideration related to sales or usage-based royalties. The variability related to these sales or usage-based royalties will be resolved in the periods when the licensee generates sales related to the intellectual property license.

The following table presents the aggregate amount of the transaction price allocated to remaining performance obligations for contracts greater than one year for their initial term prior to opt-out provisions with unsatisfied or partially satisfied performance obligations as of March 31, 2025 (in thousands):

 

Remainder of 2025

 

$

2,074,248

 

2026

 

 

1,752,670

 

2027

 

 

1,544,755

 

2028

 

 

1,359,318

 

2029

 

 

1,040,854

 

Thereafter

 

 

392,362

 

Total remaining performance obligations

 

$

8,164,207

 

 

 

 

Revenue from Prior Period Performance Obligations

The Company did not recognize any significant revenue from performance obligations satisfied in prior periods during the three months ended March 31, 2025 and 2024, respectively.

Contract Liabilities (Deferred Revenues)

The Company records deferred revenue when cash payments are received or due in advance of the Company’s performance. The Company’s deferred revenue balance primarily relates to advance payments received related to its content distribution rights agreements, live event and hospitality arrangements, consumer product licensing agreements and partnerships and marketing arrangements, as well as memberships for the Company’s subscription services. Deferred revenue is included in the current liabilities section and in other long-term liabilities in the consolidated balance sheets. Total deferred revenue as of March 31, 2025 was $457.0 million. Total deferred revenue as of December 31, 2024 was $470.7 million, of which $270.8 was recognized as revenues during the three months ended March 31, 2025.