Endeavor shares first annual financials since IPO

WME parent company Endeavor has shared financial results for the fourth quarter, and fiscal year, of 2021 – the company’s first since going public in April 2021.

Endeavor, which also owns sports agency IMG and the Ultimate Fighting Championship (UFC), among other properties, generated revenue of US$1.5 billion for the fourth fiscal quarter of 2021 and a net loss of $16.7m.

For the full year, Endeavor generated $5.1bn in revenue but posted a net loss of $467.5m.

“In our first year as a public company, we saw significant outperformance across our portfolio as the world began to emerge from the pandemic, with increased attendance at live events and continued heightened demand for premium content,” said Ariel Emanuel, CEO, Endeavor.

“Given the unique position we occupy in the content landscape, we remain confident about our ability to continue leveraging trends, unlocking growth, and delivering long-term value.”

“In our first year as a public company, we saw significant outperformance across our portfolio as the world began to emerge from the pandemic”

The agency’s representation business (comprising WME, IMG and Endeavor Content) proved to be a bright spot for Endeavor’s financials, reporting revenue of $717.9m for the quarter, up $443.2m, or 161%, compared to the prior-year quarter. For the full year, the business was up $2bn, up 100% from the $1bn realised by the segment in 2020.

WME artists include Drake, Justin Timberlake, Adele, Bruno Mars, Pearl Jam, Kendrick Lamar, the Killers, Bjork, Frank Ocean, Foo Fighters, St Vincent, Shakira and more.

Endeavor’s Events, Experiences & Rights segment revenue topped $156m in the quarter, up 23% year over year and $2.0bn for the year, up $437.8m, or 28%, compared to the prior year – driven by the return of live events among other things.

Meanwhile, Endeavor’s owned sports properties segment reported revenue of $277.3m for the fourth quarter, up $8.3m, or 3%, compared to the prior-year quarter. For the full year, revenue for the segment was up by 16% to $1.1bn, when measured against the prior year.

For 2022, Endeavor is projecting revenue between $5.2bn and $5.45bn.

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