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Endeavor suffered a loss of US$320m Q2 despite revenues of US$1.1 bn

The revenue for sports properties owned by Endeavor increased at the segment level to US$258.9 million.

Endeavor Group Holdings, a media and talent giant, saw its income rise by approximately US$650 million in the same period last year to US$1.1 billion in the second quarter of 2021.

Despite ongoing returns from live events and an increase in productions as well as content supplies, Endeavor suffered US$319.6 million in net loss for the three months ending June 30. This was mainly due to the high costs of sales and operation.

The revenue for sports properties owned by Endeavor increased at the segment level to US$258.9 million, 70% year-on-year (YoY). This has been due mainly to the fact that media rights charges and an increase in the number of UFC and PBR events resulted in higher ticket sales.

The adjusted profit before interest, fiscal, depreciation, and amortization (EBITDA) of the segment was US$132.3 million, up from the same period of last year, to US$66.8 million.

Through three sold-out pay-per-view events (PPV), in the second quarter of 2012, the UFC also enjoyed its biggest first half-to-one financial year in the history of mixed martial arts.

Revenue from events, experiences, and rights increased to US$ 528.7 million by US$ 408.8 million. The EBITDA adjusted increased by US$79.5m to US$36.8m.

Revenues in the represent segment increased to US$328.2 million by US$135.4 million. EBITDA adjusted increased from US$9.6 million to US$61.7 million.

Endeavor has also slightly modified its expected total revenue for 2021, which now rises between US$4.8 billion and US$4.85 billion. This is the parent company of the IMG and WME agencies. When the company announced its results in the first quarter of 2007, it projected revenue between US$4.76 and US$4.83 billion.

Adjusted annual EBITDA is now expected to range from US$765 million to US$ 775 million, up from US$735 million to US$745 million in Q1. Endeavor also repaid the outstanding debt in the second quarter at US$600 million. The debt now amounts to US$5.35 billion, compared with US$5.87 billion in Q1.

Despite continued challenges brought on by the pandemic, our company once again demonstrated resilience, due in large part to our global portfolio of premium assets and the creativity of our employees and partners,” said Ariel Emanuel (pictured above), chief executive of Endeavor.

As you look at the secular trends defining our industries – marked by the growing demand for content, the increased value of the talent and brands behind that content, and the desire of people to come together around live events and experiences – Endeavor remains firmly and uniquely positioned for a strong second half of 2021.”

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