Backstage Report Assesses WWE & TKO's 2025 Profits

Business has been booming for WWE for the last several years, with records profits, gates, and all sorts of other highs being reached under the stewardship of TKO. And 2025 appears to have been no different, although the ramifications of one legal decision do appear to have hurt TKO during the final fiscal quarter of the year.

In Friday's Wrestling Observer Newsletter, Dave Meltzer took a look at WWE and TKO's books, unveiled earlier in the week during Q4 earnings call. All told, TKO grossed $4.735 billion in 2025, with expenses trimming the net income to a still whopping $546.2 million. As for WWE, the promotion saw its revenue increase to $1,709.4 billion, up from $1,398.1 billion in 2024. The increases were largely attributed to due to a full year of WWE's media rights deals with Netflix and USA Network, as well as increases in live events revenue, partnerships and marketing, and consumer products and licensing.

Meltzer did note, however, that TKO had a lesser than usual fiscal quarter for Q4; while the conglomerate still pulled in $1.038 billion in the final quarter of 2025, their net profit was only $800K. As a result, the annual profits for the quarter were a loss of $2.3 million, a stark contrast to the $195.4 million profit TKO pulled throughout 2025.

The reason for lesser numbers was due to TKO making payouts as a result of the long simmering class action lawsuits against UFC, which saw former UFC fighters awarded between $240 million to $260 million as part of a $375 million settlement reached between TKO and the fighters in October 2024. WWE was overall unaffected by this, as their revenue increased from $298.3 million in Q3 to $359.6 million in Q4.