TKO Group Holdings (TKO), the company encompassing the Ultimate Fighting Championship (UFC) and the World Wrestling Entertainment (WWE), has taken a significant step towards streamlining its operations.
The company consolidated its separate live events teams into a unified unit – the TKO Live Events Strategy Team. This newly formed team will be responsible for the strategic planning, scheduling, and execution of live events for the combat sports giant, UFC, and the professional wrestling leader, WWE.
This strategic merger promises several advantages. Under the leadership of the industry veteran, Peter Dropick, the unified team aims to create a more efficient event planning and scheduling process. This could lead to a more strategic placement of events, minimising competition between UFC and WWE for audience share.
Additionally, by combining the expertise of both teams, TKO can develop innovative ticketing strategies, enticing tourism programs, and an overall enhanced live event experience for fans.
Furthermore, the team can collaborate more effectively with local governments to maximise revenue opportunities for cities hosting TKO events, potentially negotiating advantageous venue deals.
The newly integrated unit is spearheaded by Peter Dropick, a seasoned industry leader with nearly two decades of experience driving UFC’s live events success. Dropick will work closely with a team of executives from UFC, WWE, and TKO, including Dana White (UFC President and CEO), Paul Levesque (WWE Chief Content Officer), Lawrence Epstein (UFC COO), Nick Khan (WWE President), and Andrew Schleimer (TKO CFO). This combined expertise positions TKO to leverage the strengths of both UFC and WWE, propelling the live event business to new heights on a global scale.
Andrew Schleimer, TKO, CFO, commented, “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. 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 maximising revenue opportunities from site fees.”
The success of recent events underscores the ongoing strength of UFC and WWE. April 2024 saw record-breaking achievements with WrestleMania 40 and UFC 300. WrestleMania drew the largest viewership and generated the highest gate revenue in WWE history, while UFC 300 became one of the organisation’s highest-grossing events ever. With a unified live event team and continued individual success, TKO is poised for a dominant future in the global sports entertainment landscape.