v3.25.1
REVENUE
 12 Months Ended
Dec. 31, 2024
REVENUE [Abstract]  
REVENUE

16. 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 and hospitality site fees, (iii) partnerships and marketing sales and (iv) consumer product licensing and other.

Disaggregated Revenue

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

 

Year Ended December 31, 2024

 

 

UFC

 

 

WWE

 

 

IMG

 

 

Corporate & Other

 

 

Total

 

Media rights, production and content

 

$

879,427

 

 

$

865,460

 

 

$

721,254

 

 

$

32,264

 

 

$

2,498,405

 

Live events and hospitality

 

 

220,400

 

 

 

338,555

 

 

 

1,156,774

 

 

 

75,350

 

 

$

1,791,079

 

Partnerships and marketing

 

 

251,407

 

 

 

82,991

 

 

 

73,328

 

 

 

37,159

 

 

$

444,885

 

Consumer products licensing and other

 

 

55,007

 

 

 

111,094

 

 

 

18,874

 

 

 

25,501

 

 

$

210,476

 

Eliminations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(60,604

)

Total

 

$

1,406,241

 

 

$

1,398,100

 

 

$

1,970,230

 

 

$

170,274

 

 

$

4,884,241

 

 

 

Year Ended December 31, 2023

 

 

UFC

 

 

WWE

 

 

IMG

 

 

Corporate & Other

 

 

Total

 

Media rights, production and content

 

$

870,551

 

 

$

249,496

 

 

$

692,224

 

 

$

15,870

 

 

$

1,828,141

 

Live events and hospitality

 

 

167,942

 

 

 

87,705

 

 

 

650,585

 

 

 

81,524

 

 

 

987,756

 

Partnerships and marketing

 

 

196,296

 

 

 

17,957

 

 

 

79,103

 

 

 

26,397

 

 

 

319,753

 

Consumer products licensing and other

 

 

57,412

 

 

 

27,609

 

 

 

15,198

 

 

 

8,196

 

 

 

108,415

 

Eliminations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(19,269

)

Total

 

$

1,292,201

 

 

$

382,767

 

 

$

1,437,110

 

 

$

131,987

 

 

$

3,224,796

 

 

 

Year Ended December 31, 2022

 

 

UFC

 

 

WWE

 

 

IMG

 

 

Corporate & Other

 

 

Total

 

Media rights, production and content

 

$

794,397

 

 

$

—

 

 

$

628,529

 

 

$

15,689

 

 

$

1,438,615

 

Live events and hospitality

 

 

125,271

 

 

 

—

 

 

 

715,676

 

 

 

70,617

 

 

 

911,564

 

Partnerships and marketing

 

 

166,845

 

 

 

—

 

 

 

66,879

 

 

 

27,757

 

 

 

261,481

 

Consumer products licensing and other

 

 

53,634

 

 

 

—

 

 

 

13,901

 

 

 

5,943

 

 

 

73,478

 

Eliminations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(11,106

)

Total

 

$

1,140,147

 

 

$

—

 

 

$

1,424,985

 

 

$

120,006

 

 

$

2,674,032

 

 

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 with unsatisfied or partially satisfied performance obligations as of December 31, 2024 (in thousands):

 

2025

 

$

2,649,267

 

2026

 

 

1,627,762

 

2027

 

 

1,416,483

 

2028

 

 

1,318,615

 

2029

 

 

1,004,380

 

Thereafter

 

 

412,226

 

Total remaining performance obligations

 

$

8,428,733

 

 

Revenue from Prior Period Performance Obligations

The Company did not recognize any significant revenue from performance obligations satisfied in prior periods during the years ended December 31, 2024, 2023 and 2022.

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, consumer products licensing agreements and partnerships arrangements, as well as memberships for the Company’s subscription services and site fees. Deferred revenue is included in the current liabilities section and in other long-term liabilities in the combined balance sheets.

The following table presents the Company’s deferred revenue as of December 31, 2024, and 2023 (in thousands):

 

As of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of

 

 

December 31,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign

 

 

December 31,

 

Description

 

2023

 

 

Acquisitions

 

 

Additions

 

 

Deductions

 

 

Reclasses

 

 

Exchange

 

 

2024

 

Deferred revenue - current

 

$

673,357

 

 

$

—

 

 

$

2,405,831

 

 

$

(2,655,607

)

 

$

(107

)

 

$

(6,779

)

 

$

416,695

 

Deferred revenue - non-current

 

 

15,996

 

 

 

—

 

 

 

40,804

 

 

 

(2,659

)

 

 

107

 

 

 

(273

)

 

$

53,975