WWE reports 24% surge in Q1 2025 revenue, Netflix deal powers growth
Image via WWE
WWE has kicked off 2025 with an impressive financial performance, posting $391.5 million in revenue for the first quarter - a significant 24% increase from Q1 2024. The rise, amounting to $74.8 million, is primarily credited to booming media rights and a landmark content distribution deal with Netflix.
According to the TKO Group's financial disclosure, WWE's earnings were buoyed by an uptick in media rights, live event turnout, and partnership revenue.
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The $30.5 million gain in content-related income came largely from the new arrangement that makes Netflix the exclusive global streaming home for WWE's flagship shows like - Raw, SmackDown, NXT, and its premium live events.
Netflix began streaming Raw in the U.S. starting January 2025, marking a historic shift for the wrestling giant as it transitioned from traditional broadcast to a global streaming platform. Meanwhile, SmackDown continues to air on USA Network, NXT on The CW, and other premium events on Peacock within the U.S.
TKO raises 2025 projections after WWE surge
TKO Group, the parent company formed by the merger of WWE and UFC under Endeavor - reported total revenue of $1.27 billion for Q1, with WWE contributing nearly a third. UFC, on the other hand, brought in $359.7 million, up $46.7 million from the same period last year.
The company has now raised its full-year forecast for WWE and UFC revenue to a range of $3.005 billion to $3.075 billion, citing continued strength across its portfolio. Including recent acquisitions such as IMG, On Location, and Professional Bull Riders (PBR), TKO expects total annual revenue to cross $4.49 billion.
'TKO is off to a good start in 2025,' said Ariel Emanuel, Executive Chair and CEO of TKO. 'Our conviction in our portfolio of assets is strong, and we are now focused on integration, synergies, and media rights growth.'
Corporate changes amid growth
The financial high comes just days after WWE underwent several corporate and talent-level changes. While the company has not commented directly on layoffs, industry insiders believe recent cuts are part of the ongoing post-merger restructuring process under TKO.
Interestingly, WWE's revenue figures do not include the record-breaking WrestleMania 41 event held in Las Vegas, which falls under Q2 reporting. With other marquee events like Royal Rumble also delivering strong results earlier this year, WWE seems well positioned heading into the next quarter.
Despite wider economic pressures and trade uncertainties, WWE's transition to streaming, strategic partnerships, and global expansion appear to be paying off - at least for now.
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