New Media Rights Agreements Drive Revenue
UFC's new content distribution agreement with Paramount, effective January 2026, and WWE's deals with ESPN and Netflix significantly boosted media rights revenue, contributing $64.7 million and $80.8 million of additional quarterly revenue for the segments, respectively.
UFC Freedom 250 Event Impact
The one-time UFC Freedom 250 event at the White House accounted for $59.0 million of higher partnerships revenue and $77.2 million of increased production and athlete costs, resulting in a net positive contribution but higher direct operating expense growth.
On Location Hospitality Ramp
IMG's On Location business saw a $66.4 million increase in live events and hospitality revenue, primarily from sales related to the 2026 FIFA World Cup and Milano Cortina Olympics, partially offsetting the loss of a professional cycling contract.