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    Ryan Gravett • UBS

    Ryan Gravett's questions to TKO Group Holdings Inc (TKO) leadership

    Ryan Gravett's questions to TKO Group Holdings Inc (TKO) leadership • Q2 2025

    Question

    Ryan Gravett requested an update on the company's boxing initiative, including its progress, the impact of proposed legislation, and its expected financial contribution heading into 2026.

    Answer

    Mark Shapiro, COO, President & Director, positioned boxing as a low-risk, high-growth 'fourth tentpole' for TKO, detailing the fee-based structure of the Zufa Boxing JV and separate super fights. Lawrence Epstein, COO of UFC, clarified that the proposed Muhammad Ali Revival Act is designed to add a unified promotional model, not alter the existing law. Andrew Schleimer, CFO, added that TKO will also build long-term firm value through its equity stake in the venture.

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    Ryan Gravett's questions to TKO Group Holdings Inc (TKO) leadership • Q1 2025

    Question

    Ryan Gravett inquired about the recently announced acquisition of AAA wrestling in Mexico, asking about the biggest opportunities for monetization and integration with WWE and if similar tuck-in opportunities exist globally.

    Answer

    Mark Shapiro, President and COO, called the deal a "fast ball right down the middle." An unnamed executive highlighted the opportunity to tap into the strong Latino audience and create new stars, noting a recent debut wrestler drove nearly 100 million social media impressions. CFO Andrew Schleimer added that while the short-term financial impact is not meaningful, the strategic goal is to institutionalize the promotion and grow its revenue streams, but noted no other M&A is on the horizon.

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    Ryan Gravett's questions to TKO Group Holdings Inc (TKO) leadership • Q4 2024

    Question

    Ryan Gravett of UBS asked about the impact from the timing of WWE content deliveries in the quarter and the opportunity for additional programming with Netflix. He also inquired about how to model UFC media rights revenue growth as international markets transition to Netflix.

    Answer

    CFO Andrew Schleimer clarified the Q4 content delivery impact was purely timing-related and would normalize. He explained that as existing international WWE media deals expire, they roll into the Netflix deal, making TKO economically indifferent in the first year. WWE President Nick Khan confirmed Netflix has a strong appetite for more content, citing a new behind-the-scenes show. President and COO Mark Shapiro added that new event concepts are already generating interest for ancillary content production.

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    Ryan Gravett's questions to Liberty Media Corp (FWONK) leadership

    Ryan Gravett's questions to Liberty Media Corp (FWONK) leadership • Q1 2025

    Question

    Ryan Gravett from UBS asked for an update on media rights renewal discussions outside the U.S., specifically mentioning Latin America and Asia, and inquired about interest from digital players in those regions.

    Answer

    Formula One CEO Stefano Domenicali confirmed that the situation is dynamic globally, with emerging competition from streaming players in certain areas. He highlighted that positive developments are expected in key markets such as Japan, other Far East Asian countries, and Brazil, which will have a favorable impact on relationships starting next year.

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    Ryan Gravett's questions to Liberty Media Corp (FWONK) leadership • Q1 2025

    Question

    Ryan Gravett asked for an update on media rights renewal discussions in non-U.S. markets, specifically mentioning Latin America and Asia, and the level of interest from digital players.

    Answer

    Formula One CEO Stefano Domenicali described the situation as dynamic, noting healthy competition from streaming services is emerging in certain areas. He specifically mentioned that key markets including Japan, others in Far East Asia, and Brazil are expected to see a positive evolution in their media rights relationships starting next year.

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