TKO Merges UFC and WWE Live Events Groups

A new business model. TKO Group Holdings, the owners of both UFC and WWE recently announced that it has integrated both companies’ Live Events teams into one unit.

From the press release:

The integrated unit, the TKO Live Events Strategy Team, will drive revenue growth strategies across key areas, including live event development and scheduling, tourism incentive programs, ticketing, and fan experiences. This new structure aligns with TKO’s efforts to leverage the power and expertise of both UFC and WWE to maximize event revenue potential and pursue growth opportunities and cost synergies.

Peter Dropick, who has played an important role in driving UFC’s industry-leading live event success for nearly two decades, and who is a pivotal member of the senior executive team that has led UFC to five consecutive years of record revenue, has been elevated to lead the integrated unit as Executive Vice President, Event Development and Operations for TKO.

Dropick will work closely with UFC, WWE, and TKO leadership, including UFC President and CEO Dana White, WWE Chief Content Officer Paul Levesque, UFC COO Lawrence Epstein, WWE President Nick Khan, and TKO CFO Andrew Schleimer, to leverage the massive global popularity of UFC and WWE and continue to grow the TKO live events business domestically and internationally.

“Demand for live sports and entertainment has never been stronger, and we believe our portfolio of events will continue to drive the growth of our business,” said Andrew Schleimer, Chief Financial Officer, TKO. “The newly integrated TKO Live Events Strategy Team will focus on creating operational efficiencies and developing strategies to leverage the broader economic benefits we bring to host cities, including partnering with local governments and maximizing revenue opportunities from site fees.”

Editor’s Opinion:

I would have to imagine that this is the reason for the recent WWE executive layoffs. While this idea makes sense from a business perspective, I feel bad for the folks who were laid off and their families.

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