Endeavor swung to a profit last quarter on sales up more than 60% to nearly $1.4 billion last quarter as business surged in the wake of Covid. The company, which went public in April, posted a net …
swung to a profit last quarter on sales up more than 60% to nearly $1.4 billion last quarter as business surged in the wake of Covid. The company, which went public in April, posted a net profit of $63.6 million from a $21.8 million loss the year before.“We continue to capitalize on the elevated demand for premium content and live events coming out of the pandemic,” said CEO Ariel Emanuel.
Of its three main business units, UFC-led owned sports properties saw revenue of $288 million– down $10.6 million on a one-time $25 million contract termination fee and more events being held this year than last, partly offset by strong growth across live events. Events, Experiences & Rights segment revenue rose by $62 million to $446 million on higher event and sports media production revenue related to the return of live events with audiences, as well as the addition of the recently acquired NCSA within our IMG Academy business. This was partially offset by a decrease in media rights revenues,
And its Representation segment saw revenue increase $481 million to $664.7 million on favorable comps with last year when most television and film productions and touring events came to a halt due to Covid. Growth in this segment was primarily attributable to a significant increase in Endeavor Content project deliveries and agency client commissions.Must Read Stories
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