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WME parent Endeavor to go private in $13bn deal

WME parent company Endeavor will be acquired by majority shareholder Silver Lake in a deal valued at $13 billion.

Endeavor, a Los Angeles-based sports and entertainment giant, has publicly traded as “EDR” on the New York Stock Exchange since April 2021.

Last year, private equity company Silver Lake (which also owns shares in TEG and Oak View Group) announced its intention to take Endeavor private, causing the share price to surge by 25%.

The Silicon Valley-based PE firm yesterday (2 April) confirmed it will acquire all outstanding shares, with Endeavor stockholders receiving $27.50 per share.

Endeavor is also the parent company of sports booking outfit IMG, events business On Location, marketing agency 160over90 and sports data and technology properties IMG Arena and OpenBet.

TKO Group Holdings, Endeavor’s publicly listed company consisting of UFC (Ultimate Fighting Championship) and WWE (World Wrestling Entertainment), is not included in the $13 bn deal.

“Since 2012, Endeavor’s strategic partnership with Silver Lake and Egon Durban have been central to our evolution into the global sports and entertainment leader we are today,” says Ariel Emanuel, CEO of Endeavor.

“We have built and grown Endeavor from $350m in annual revenue when we first invested in 2012 to nearly $6 bn in consolidated revenue today”

“We believe this transaction will maximize value for all of Endeavor’s public stockholders and are excited to continue to unlock and invest in the growth opportunities ahead as a private company.”

Egon Durban, Co-CEO and Managing Partner of Silver Lake, and Chairman of the Board of Endeavor, said: “Our unwavering belief in Ari and Patrick, together with Mark and other talented leaders at Endeavor, has never been stronger. This is a very special partnership.

“Together, we have built and grown Endeavor from $350 million in annual revenue when we first invested in 2012 to nearly $6 billion in consolidated revenue today. Now, Endeavor can take advantage of its unique core platform to meet the dynamic forces driving growth in content, sports, and live events with bold vision. Consistent with our mission and underscored by this commitment being among the largest in Silver Lake’s history, we are all in on working with the Endeavor team and our trusted anchor investors to create value by accelerating growth at scale.”

Silver Lake made its initial investment in WME in 2012. In late 2013, it bought fashion and sports-focused talent agency IMG for $2.4 billion and rolled up both acquisitions into WME-IMG. The mega-agency was rebranded as Endeavor in 2017.

WMEs music roster includes Justin Timberlake, Adele, Bruno Mars, Pearl Jam, The Killers and Foo Fighters, among others.

Earlier this year, Silver Lake, which also has interests in City Football Group and Madison Square Garden Sports, secured a A$1.1 billion (€663.8 million) dividend recapitalisation for Australian live entertainment giant TEG after attempts to sell the company reportedly stalled.

 


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Silver Lake considers taking Endeavor private

Shares in WME’s parent company Endeavor have soared after global investment giant Silver Lake revealed it was working towards a proposal to take the business private.

The disclosure by Silver Lake, which holds a 71% stake in the sports and entertainment firm, came after Endeavor confirmed it was looking at “strategic alternatives” that better value the company.

Endeavor went public two-and-a-half years ago but TBI Vision reports its share price had almost halved from a near $35 peak in December 2021 to $17.72 before surging 25% in the wake of yesterday’s announcements. Silicon Valley-based Silver Lake also owns shares in TEG, Oak View Group, City Football Group and Madison Square Garden Sports.

“Silver Lake is committed to strategies that deliver value for all shareholders of Endeavor,” reads a statement from the private equity firm. “To that end, Silver Lake is currently working toward making a proposal to take Endeavor private. Silver Lake firmly believes in Endeavor’s business and is not interested in selling its shares in Endeavor to a third-party nor in entertaining bids for assets that are a part of Endeavor.

“Silver Lake is the owner of approximately 71% of the voting power of Endeavor. Our co-chief executive officer, Egon Durban, and our managing director, Stephen Evans, serve as members of the Executive Committee of the Board of Directors of Endeavor. Silver Lake has been a committed investor since 2012 and has made significant investments in Endeavor since then to support its growth.”

“We believe an evaluation of strategic alternatives is a prudent approach to ensure we are maximising value for our shareholder”

In addition to WME, Endeavor is also the parent company of sports booking outfit IMG, events business On Location, marketing agency 160over90 and sports data and technology properties IMG Arena and OpenBet.

Endeavor clarifies that it is not considering “the sale or disposition of the company’s interest” in TKO Group Holdings, the new publicly listed company consisting of UFC (Ultimate Fighting Championship) and WWE (World Wrestling Entertainment).

“Given the continued dislocation between Endeavor’s public market value and the intrinsic value of Endeavor’s underlying assets, we believe an evaluation of strategic alternatives is a prudent approach to ensure we are maximising value for our shareholders,” said Endeavor CEO Ariel Emanuel.

WME-IMG – the mega-agency formed by the 2013 merger of music/media agency William Morris Endeavor and International Management Group – rebranded as Endeavor in 2017. WME‘s music roster includes Justin Timberlake, Adele, Bruno Mars, Pearl Jam, The Killers and Foo Fighters, among others.

Artémis, an investment firm led by billionaire French businessman Francois-Henri Pinault, acquired TPG’s majority stake in WME rival Creative Artists Agency (CAA) last month in a deal that reportedly valued CAA at $7 billion.

 


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Endeavor CEO toasts ‘best year’ for music touring

Endeavor says live music is “on fire” after the WME parent company posted revenue of $1.436 billion (€1.3bn) for the second quarter of 2023.

Net income hit $666.5m and adjusted EBITDA was $304.9m, while Q2 revenue for Endeavor’s representation segment was $381.1 million, up 6.5% on the same period in 2022, with year-over-year growth across all four reporting segments.

WME, whose roster includes Justin Timberlake, Adele, Bruno Mars, Pearl Jam, The Killers, Bjork, Foo Fighters, Stormzy, St Vincent, Shakira and Snoop Dogg, is having its “best year for music touring”, according to CEO Ari Emanuel.

“Broadway is coming back strong, comedy tours are selling out and we’re having our best year for music touring,” Emanuel told investors during the firm’s Q2 earnings call. “In country music in particular, more than 100 WME clients participated in nearly 200 performance slots throughout CMA Fest Week in June.”

Meanwhile, the $1.25bn sale of its IMG Academy business has allowed the company to begin share buybacks of up to $300 million of Class A common stock in the third quarter.

Emanuel also delivered an update on TKO Group Holdings, the new publicly listed company consisting of UFC (Ultimate Fighting Championship) and WWE (World Wrestling Entertainment), saying the deal is expected to close in mid-to-late September 2023.

“We delivered solid results this quarter at Endeavor and are closing in on the launch of TKO Group Holdings”

“We delivered solid results this quarter at Endeavor and are closing in on the launch of TKO Group Holdings,” he says. “Our share repurchase plan and dividend payment initiatives will begin in the third quarter, and we remain focused on maintaining prudent capital allocation and delivering long term sustainable growth for the company.”

Elsewhere, Endeavor CFO Jason Lublin estimated the Hollywood writers’ dispute would cost the company $25m a month in revenue.

“This is the first time in 63 years both WGA and SAG-AFTRA are striking simultaneously,” he said. “We currently estimate the strikes will adversely impact our revenue by approximately $25 million per month on average, which largely flows through to adjusted EBITDA.

“However, without knowing the scope, duration and shape of the eventual recovery, especially given that the SAG-AFTRA strike is a relatively new development, having taken effect only on July 14, it would be premature to speculate the aggregate dollar impact for the balance of the calendar year.”

Cash and cash equivalents totalled $1.616bn compared to $718.7m at 31 March, 2023, while total debt was $5.110bn at 30 June 2023, compared to $5.151 billion at 31 March 2023.

 


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WME parent forms new $21bn global entertainment firm

WME’s parent company Endeavor is launching a new publicly listed company that consists of two iconic sports and entertainment brands: UFC (Ultimate Fighting Champion) and WWE (World Wrestling Entertainment).

Upon completion of the deal, Endeavor will hold a 51% controlling interest in the new company (yet to be named) and existing WWE shareholders will hold a 49% interest in it.

Endeavor says that together, UFC and WWE will have “global reach, impressive scale and omnichannel distribution”.

On a combined 2022 fiscal year-end basis, UFC and WWE achieved revenue of $2.4 billion and a 10% annual revenue growth rate since 2019.

The transaction values UFC at an enterprise value of $12.1 billion and WWE at an enterprise value of $9.3 billion.

“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” says Ariel Emanuel, CEO of Endeavor. “For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.”

“I believe that this is without a doubt the best outcome for our shareholders and other stakeholders”

Vincent K. McMahon, executive chairman of WWE, adds: “Given the incredible work that Ari and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders.”

“Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity. The new company will be well-positioned to maximise the value of our combined media rights, enhance sponsorship monetisation, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster our strong stable of brands. I, along with the current WWE management team, look forward to working closely with Ari and the Endeavor and UFC teams to take the businesses to the next level.”

The new company will be led by Emanuel, who will also continue in his role as CEO of Endeavor, McMahon (executive chairman of the board) and Mark Shapiro, who will be president and COO of both Endeavor and the new company.

Dana White will continue in his role as president of UFC and Nick Khan will serve as president of WWE. The board of directors will consist of 11 members who will be appointed at a later date, six of whom will be appointed by Endeavor and five of whom by WWE.

Alongside the newly formed company, Endeavor owns entertainment agency WME and sports, fashion, events and media company IMG.

 


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WME parent Endeavor posts $1.2bn revenue for Q3

WME’s parent company Endeavor has praised the resilience of live events after posting Q3 2022 revenue of $1.221 billion.

Endeavor, which owns properties such as sports agency IMG and the Ultimate Fighting Championship (UFC), recorded a net loss of $12.5 million for the quarter, but has upped its adjusted EBITDA guidance for 2022 as a whole by $10m in recognition of “continued strength across the business”.

“Our business performed well in the quarter despite a turbulent macroeconomic environment,” says Endeavor CEO Ariel Emanuel. “Given our unique positioning relative to a set of highly resilient secular industry trends across premium sports and entertainment content and live events, we remain confident in our ability to continue delivering on our long-term growth strategy while also being good stewards of capital.”

WME artists include Drake, Justin Timberlake, Adele, Bruno Mars, Pearl Jam, Kendrick Lamar, the Killers, Bjork, Frank Ocean, Foo Fighters, St Vincent and Shakira, with Snoop Dogg joining its ranks earlier this week.

Revenue from Endeavor’s representation segment was $388.3m for the three-month period, down 42% on the third quarter of 2021.

“Spending habits have shifted, but our company has a presence at every point on the purchase chain”

“The decrease was primarily due to $334 million of revenue in the prior year from the restricted Endeavor Content business, which was sold in January 2022,” says the firm. “The decrease was partially offset by continued strong demand for talent including the recovery of music and comedy touring, as well as increased corporate brand spending at [creative agency] 160over90.

Elsewhere, revenue for its owned sports properties segment was $402.3m for the quarter, up 39% on Q3 2021, while revenue from events, experiences & rights segment was down 1% to $440.6m, partially offset by growth in music and other events.

“Spending habits have shifted, but our company has a presence at every point on the purchase chain,” Emanuel told investors. “During Covid people were buying stuff, and post-Covid, they are more focused on experiences, and we are the benefit of that side of the equation.”

Full-year revenue is expected to be between $5.235bn and $5.325bn, while adjusted EBITDA is forecast to be between $1.145bn and $1.175bn, adds the company, which notes it repaid $250m of debt in the third quarter with the intent to repay an additional $250m by the year’s end.

Endeavor named Richard Weitz and Christian Muirhead as co-chairmen of WME in September, while Lucy Dickins was elevated to the position of WME global head of contemporary music and touring in August.

 


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UTA CEO asks agents to support boycott of Kanye

UTA CEO and co-founder Jeremy Zimmer has issued a company-wide memo asking agents to “support the boycott of Kanye West,” according to Variety.

The 23 October memo, titled Rise of Anti-Semitism and Hate, follows an antisemitic rally in Los Angeles on the weekend, sparked by the rapper.

“As a company, we stand for a wide diversity of voices and ideas; But we can’t support hate speech, bigotry or anti-semitism,” Zimmer wrote. “Please support the boycott of Kanye West. Powerful voices spewing hatred have frequently driven people to do hateful things.”

On Saturday (22 October), Antisemites took to a Los Angeles freeway overpass to express their support of the rapper, who posted anti-Jewish slurs on social media. Also on Sunday, fliers were reportedly distributed around Brentwood identifying entertainment executives as “Jewish”.

“I’m saddened to write that once again we’re seeing a surge in anti-Semitism in our communities, fueled by Kanye’s comments and a resulting in an incident in Los Angeles yesterday where hateful banners were placed over the 405 freeway,” wrote Zimmer.

“Regrettably, anti-Semitism, racism and many forms of hate and intolerance are part of the fabric of society. Generally, they live as a plague eroding the health of communities and are combatted by understanding, tolerance and the general goodness of most people.

“But throughout history some have used their public platform to spew the plague out loud and spread the contagion to dangerous effect. Kanye is the latest to do so, and we’re seeing how his words embolden others to amplify their vile beliefs. I’ve also seen copies of horribly anti-Semitic flyers left this weekend on the doorsteps of homes in LA neighborhoods, showing that the 405 banners are not the end of it.

“Those who continue to do business with West are giving his misguided hate an audience”

“Equally worrying is what is happening on college campuses, where concern and debate about Zionism becomes veiled anti-Semitism. Wellesley College recently has been at the epicenter of this dilemma. The Wellesley newspaper recently supported a mapping project showing the nearby Jewish owned businesses, and suggesting that they be boycotted. The assumption being that because they are owned by Jews, they must be anti-Palestine. This is the kind of dangerous thinking that can lead to inflaming anti-Semitism and hate, and there have been examples of it at other schools.

“Whether it’s signs on the 405 in Los Angeles, flyers on doorsteps, mapping Jewish businesses in Boston, or marching with hoods and crosses, all of these behaviors ignite the embers of bigotry, and they must not be tolerated.

“As a company we stand for a wide diversity of voices and ideas. But we can’t support hate speech, bigotry or anti-semitism. Please support the boycott of Kanye West. Powerful voices spewing hatred have frequently driven people to do hateful things. Let’s not be lulled into thinking this time it’s different,” he concludes.

Elsewhere, Ari Emanuel, CEO of WME parent company Endeavor, recently penned an op-ed for the Financial Times calling on West’s business partners – such as Apple, Spotify, Adidas and his touring partners – to stop working with him.

“West is not just any person — he is a pop culture icon with millions of fans around the world,” Emanuel wrote. “And among them are young people whose views are still being formed. This is why it is necessary for all of us to speak out. Hatred and anti-Semitism should have no place in our society, no matter how much money is at stake.”

“Those who continue to do business with West are giving his misguided hate an audience,” Emanuel added. “There should be no tolerance anywhere for West’s anti-Semitism. This is a moment in history where the stakes are high and being open about our values, and living them, is essential. Silence and inaction are not an option.”

 


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Endeavor appoints new WME co-chairs

Endeavor has named Richard Weitz and Christian Muirhead as co-chairmen of WME.

Weitz, who represents an array of musicians, actors, comedians, writers, producers and directors, joined the agency in 1997 and was promoted to partner in 2002 when he was also named head of its television packaging department. Prior to Endeavor, Weitz served stints at InterTalent Agency and ICM.

“WME is home to me, and I’m thrilled to carry on its century-long history and help set the course for its next 100 years,” says Weitz. “I’ve had the privilege of working with some of the most talented artists, agents, and industry executives for over 25 years. I’m humbled to have this incredible opportunity to expand on those relationships and introduce new ones, while working with Ari Greenburg, Dan Limerick, and the entire management team to create further value for our clients.”

Muirhead, meanwhile, has been with the company for 18 years and has served as Endeavor’s chief communications officer (CCO) since 2014. He first joined the then William Morris Agency in 2004 and became its communications lead in 2008.

Following its merger with the Endeavor talent agency in 2009, Muirhead became WME’s head of communications and was later named a partner. He previously worked in international publicity at Warner Bros. Pictures.

“The appointment of Richard and Christian marks a truly transformative day for WME”

“Having started my journey at WME, I’ve had a front row seat to the evolution of the entertainment business and the growing influence of talent in shaping it,” says Muirhead. “I look forward to leveraging the full scale and depth of Endeavor’s network on our clients’ behalf, forging connections and creating opportunities to help them build industry-leading brands and businesses.”

WME’s music roster includes acts such as Adele, Foo Fighters, The Killers, Stormzy, Olivia Rodrigo and Bruno Mars.

“The appointment of Richard and Christian marks a truly transformative day for WME, which continues to be the inspirational core of Endeavor,” says the company’s president Mark Shapiro. “I’ve seen first-hand their innate ability to lead, to build meaningful relationships, and to leverage the broader Endeavor network in service to our clients’ aspirations. Coupled with their deep understanding of the entertainment landscape, I can say with certainty that there are no better or more complementary individuals to now lead the agency.”

The duo succeed chair Lloyd Braun, who plans to step down at the end of 2022.

“I would like to thank Lloyd for his leadership over these past three years, navigating WME through the pandemic and setting the agency on course for its best financial year on record,” adds Shapiro. “Lloyd has left an indelible mark on WME and laid a strong foundation for the future.”

WME recently elevated Lucy Dickins to the position of global head of contemporary music and touring.

Endeavor reported continued growth across its portfolio in the second quarter of 2022, prompting the company to increase its full-year forecast for adjusted EBITDA. Endeavor, which also owns sports agency IMG and the Ultimate Fighting Championship (UFC), among other properties, generated revenue of US$1.313 billion for the quarterly period ending 30 June, 2022.

 


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WME parent boosted in Q2 by return of live events

WME parent Endeavor has reported continued growth across its portfolio in the second quarter of 2022, prompting the company to increase its full-year forecast for adjusted EBITDA.

Endeavor, which also owns sports agency IMG and the Ultimate Fighting Championship (UFC), among other properties, generated revenue of US$1.313 billion for the quarterly period ended 30 June, 2022.

Net income came to $42.2m while adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) totalled $306.4m.

The agency’s representation business (comprising WME, sports agency IMG and Endeavor Content) generated revenue of $358m for the quarter, up $29.7m or 9% compared to the second quarter of 2021.

The segment’s adjusted EBITDA was $111.2m for the quarter, up $49.5m or 80% year over year.

According to the company, the growth was primarily driven by the continued strong demand for talent, including the recovery of music and comedy touring, as well as increased corporate client spending.

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.

Elsewhere, the Events, Experiences & Rights segment revenue was $627.9m for the quarter, up $99.2m or 19% compared to the second quarter of 2021.

“We benefited from strong growth globally across our segments in the second quarter”

Increases were primarily driven by the return of full-capacity live events including music festivals, the Masters, and the NCAA Final Four, as well as the inclusion of the Madrid Open and NCSA acquisitions.

The segment’s adjusted EBITDA was $108.1 million for the quarter, up $71.3m or 194% year over year.

Owned Sports Properties segment revenue was $331.9m for the quarter, up $73.1m or 28% compared to the second quarter of 2021.

Growth was primarily driven by an increase in media rights fees and live event, partnership, consumer product and licensing revenues at UFC, as well as higher revenues at PBR (Professional Bull Riders), and the inclusion of Diamond Baseball Holdings.

The segment’s adjusted EBITDA was $161.3m for the quarter, up $29.0m or 22% year over year.

The upswing in each segment has prompted Endeavor to slightly adjust its full-year forecast for adjusted EBITDA to a range of $1.13bn to $1.17bn, which is up from the estimate of $1.1bn to $1.15bn offered in May with Q1 results.

Revenue for 2022 is expected to be between $5.235bn and $5.475bn, as estimated in the Q1 results.

“We benefited from strong growth globally across our segments in the second quarter,” said Ariel Emanuel, CEO, Endeavor.

“While we recognise there are broader macroeconomic forces at play, given the quarter’s performance and our line of sight through the end of the year, we’ve once again raised our Adjusted EBITDA guidance. We remain focused on our long-term strategy – leveraging the diversity and scale of our businesses to drive maximum value for our shareholders, our clients and our owned IP.”

 


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Endeavor Q1 revenue boosted by demand for events

WME parent company Endeavor has reported significant growth in the first quarter of 2022, driven by the resumption of concert touring and demand for live events.

Endeavor, which also owns sports agency IMG and the Ultimate Fighting Championship (UFC), among other properties, generated revenue of US$1.474 billion for the first fiscal quarter of 2022.

Net revenue came to $517.7m, while EBITDA (earnings before interest, taxes, depreciation and amortisation) totalled $314.4m.

The agency’s representation business (comprising WME, sports agency IMG and Endeavor Content) generated revenue of $357.3m for the quarter, up $108.4m or 44% compared to the first quarter of 2021.

The segment’s adjusted EBITDA was $101.7m for the quarter, up $40.2m or 65%, year on year.

According to the company, the growth was primarily driven by increased brand spending, as well as higher commissions resulting from continued strong demand for Endeavor’s talent, and the recovery of live entertainment, primarily music and comedy touring.

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.

“Our growth in the first quarter was driven by our ability to respond to the high demand for premium content and live events”

Elsewhere, the Events, Experiences & Rights segment revenue was $825.8m for the quarter, up $286.2m or 53% compared to the first quarter of 2021.

Increases were primarily driven by the return of more full-capacity live events in the quarter compared to the first quarter of 2021, including Super Bowl LVI, the Miami Open, the NCAA Final Four and Frieze LA, as well as $38m in revenue from the acquisition of NCSA, which closed in Q2 2021.

The segment’s adjusted EBITDA was $132.5m for the quarter, up $93.4m or 239%, year on year.

Owned Sports Properties segment revenue was $296.7m for the quarter, up $13.2m or 5% compared to the first quarter of 2021 – primarily driven by greater sponsorship, licensing, commercial PPV and event-related revenue for UFC among other factors. The segment’s adjusted EBITDA was $148.7m for the quarter, up $3.2m or 2% year on year.

“Our growth in the first quarter was driven by our ability to respond to the high demand for premium content and live events,” said Ariel Emanuel, CEO, Endeavor. “We feel great about where we sit relative to the secular tailwinds across all of our businesses, and we’ve raised our guidance for the fourth quarter in a row to reflect our positive outlook for the balance of the year.”

For 2022, Endeavor is projecting revenue between $5.235bn and $5.475bn, as well as adjusted EBITDA between $1.1bn and $1.15bn.

Last year, the company generated $5.1bn in revenue but posted a net loss of $467.5m.

 


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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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