WWE revenue smashed all previous quarter results, with a whopping $391.5 million compared to the $316.7 million of the prior quarter year.

All four segments which made up this figure were up nicely, with media rights up $251.6 million vs $221.1 million in Q1 2024, live events at $76.3 million vs $50.2 million in Q1 2024, partnerships and marketing up $25.6 million vs $13.8 million in Q1 2024, and consumer products at $38 million vs $31.6 million in Q1 2024.

TKO attributed the increase in media rights, production and content revenue due to the timing of the previously disclosed format expansion of WWE’s weekly program, Smackdown, as well as the contractual escalation of media rights fees, notably the impact of WWE’s global content distribution agreement with Netflix.

The increase in live events and hospitality revenue was due to higher ticket sales revenue, related to an increase in both price and attendance despite fewer total events, which more than offset a decrease in site fees, primarily due to revenue recorded in the prior year period related to an international premium live event.

The increase in partnerships and marketing revenue was primarily related to new partners and an increase in fees from renewals compared to the prior year period.

The increase in consumer products licensing and other revenue was primarily related to higher video gaming and collectibles revenue compared to the prior year period.