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Welcome to PWInsider.com's live, ongoing coverage of today's TKO earnings call for the third quarter of 2025.
Seth Zaslow welcomed everyone to the call.
Ari Emanuel provided prepared comments. It was a milestone quarter for TKO. They doubled their cash dividend and started their stock buyback. Their fundamentals are strong and premium sports content is in demand. He touted UFC's Paramount deal as well as the removal of the PPV purchasing. He promoted WrestlePalooza as the debut of WWE's deal with ESPN. This further expands WWE's footprint. He pushed the Zuffa Boxing deals and launch. He touted Wrestlemania heading Saudi Arabia, WWE Raw being in the Netflix top ten every week and Smackdown topping Fridays on nine weeks for cable. He promoted PBR going to Paramount+.
Andrew Schleimer ran down all the financials in their release earlier this afternoon.
Mark Shapiro and Andrew Schleimer handled the Q&A. I'll recap the WWE-related content mostly.
They were asked about UFC and Paramount. It was about the brand and the reach.
They were asked about WWE live events revenue and the higher rates. Nick Khan jumped in and said they've increased prices appropriately for the marketplace. They discontinued live events which created more scarcity on the televised events. The international tours did the same. It was a good thing for their overall gate and they are bullish on things staying strong.
They expect to do 2-4 Zuffa Boxing events a year. He said they get paid on media rights, partnership, and ticketing sales for the events. Nick Khan and Dana White having other responsibilities are in part why there won't be more right away.
They would explore additional purchases if they see an upside to it.
They have a full-time team working on site fees on UFC, Zuffa and WWE.
On the ESPN-WWE relationship, they were happy with the relationship thus far especially the promotion for WrestlePalooza. He praised the ESPN marketing for that show. It will take ESPN time to grow the platform the way they want to grow it but they will do their thing and be patient. ESPN can be one of the best in the marketing space when get behind something. They want to sustain what they had with WrestlePalooza. It's important for ESPN, as they renew their deals, that subscribers can authenticate for free.
Wingstop is now advertising across WWE and UFC. They are working with existing and new partners. Paramount's relationship is helping them grow. The goal is $1 Billion company-wide and they have their eyes on growth in 2026. They are now taking calls when it was them calling others when they started with UFC. There are people calling wanting a package with UFC, PBR and WWE.
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