Endeavour Group Holdings, Inc. (EDR): Business Model Canvas

In der dynamischen Welt der Unterhaltung und des Sports gilt Endeavour Group Holdings, Inc. (EDR) als Kraftpaket, das die Talentvertretung in ein facettenreiches globales Unternehmen verwandelt. Dieses innovative Unternehmen hat die Art und Weise, wie Talente auf mehreren Plattformen entdeckt, verwaltet und monetarisiert werden, revolutioniert und nutzt dabei ein ausgeklügeltes Geschäftsmodell, das kreative Talente mit modernsten Medienstrategien verbindet. Von der Vertretung weltberühmter Sportler und Entertainer über die Produktion bahnbrechender Inhalte bis hin zur Verwaltung komplexer Markenerlebnisse zeigt Endeavors Business Model Canvas ein überzeugendes Konzept für den Erfolg der modernen Unterhaltungsbranche.

Endeavour Group Holdings, Inc. (EDR) – Geschäftsmodell: Wichtige Partnerschaften

Talentagenturen

Endeavour Group Holdings besitzt William Morris Endeavour (WME), eine führende globale Talentagentur. Ab 2023 vertritt WME über 1.000 Kunden aus den Bereichen Unterhaltung und Sport.

Partner	Art der Partnerschaft	Wichtige Details zur Zusammenarbeit
WME	Interne Talentagentur	Repräsentiert Schauspieler, Sportler, Musiker und Content-Ersteller
IMG	Sport- und Medienmanagement	Globale Sport-, Event- und Talentvertretung

Sportligen und Eventveranstalter

Endeavour unterhält strategische Partnerschaften mit mehreren Sportorganisationen.

• UFC (Ultimate Fighting Championship) – hundertprozentige Tochtergesellschaft
• Professionelle Sportligen in mehreren Disziplinen
• Management großer internationaler Sportveranstaltungen

Medienproduktionsunternehmen

Endeavour arbeitet mit verschiedenen Medienproduktionsunternehmen zusammen, um Inhalte zu erstellen und zu verbreiten.

Produktionspartner	Inhaltstyp	Umfang der Zusammenarbeit
Unterhaltungsstudios	Film und Fernsehen	Content-Entwicklung und Produktion
Digitale Medienplattformen	Streaming-Inhalte	Ursprüngliche Programmiererstellung

Technologie- und Streaming-Plattformen

Strategische Technologiepartnerschaften ermöglichen die Verbreitung von Inhalten und digitales Engagement.

• Netflix
• Amazon Prime Video
• Hulu
• Disney+

Netzwerke zur Verbreitung von Inhalten

Endeavour nutzt globale Vertriebsnetzwerke, um die Reichweite der Inhalte zu maximieren.

Vertriebsnetz	Geografische Reichweite	Inhaltskategorien
Internationale Mediennetzwerke	Global	Unterhaltung, Sport, Veranstaltungen
Digitale Streaming-Plattformen	Weltweit	Multiplattform-Inhaltsverteilung

Endeavour Group Holdings, Inc. (EDR) – Geschäftsmodell: Hauptaktivitäten

Talentvertretung und -management

Endeavour vertritt über 6.000 Kunden aus der Unterhaltungs-, Sport- und Medienbranche. Das Unternehmen verwaltet Talente durch seine Vereinigte Talentagentur (UTA) Abteilung.

Talentkategorie	Anzahl der Kunden
Schauspieler	1,750
Musiker	850
Sportler	1,200
Regisseure/Produzenten	600

Produktion und Management von Sportveranstaltungen

Endeavour besitzt UFC (Ultimate Fighting Championship), das jährlich etwa 40 Veranstaltungen mit globaler Zielgruppenreichweite veranstaltet.

• Jährliche UFC-Events: 40
• Globale Sendereichweite: 165 Länder
• Durchschnittliche Veranstaltungsbesucherzahl: 15.000–20.000 Live-Zuschauer

Inhaltserstellung und Lizenzierung

Endeavour generiert Einnahmen durch die Produktion und Lizenzierung von Inhalten auf mehreren Plattformen.

Inhaltskategorie	Jahresumsatz
Fernseh-/Streaming-Inhalte	350 Millionen Dollar
Filmproduktion	250 Millionen Dollar
Lizenzierung digitaler Inhalte	150 Millionen Dollar

Marketing und Markenentwicklung

Endeavour bietet umfassende Marketingdienstleistungen für Kunden und Marken.

• Marketingkunden: 500+
• Globaler Marketingumsatz: 275 Millionen US-Dollar
• Gemanagte Markenpartnerschaften: 250

Talentakquise und -entwicklung

Das Unternehmen investiert erheblich in die Entdeckung und Entwicklung aufstrebender Talente in allen Branchen.

Talententwicklungsprogramm	Jährliche Investition
Programm für aufstrebende Künstler	50 Millionen Dollar
Sportliche Talententwicklung	35 Millionen Dollar
Unterstützung für die Erstellung digitaler Inhalte	25 Millionen Dollar

Endeavour Group Holdings, Inc. (EDR) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Talentliste

Ab 2024 repräsentiert Endeavour:

• Über 10.000 Sportler
• Über 2.500 Schauspieler und Entertainer
• Über 1.500 Regisseure und Produzenten

Talentkategorie	Anzahl der vertretenen Talente
Sportler	10,000+
Unterhaltungsprofis	4,000+

Globales Netzwerk von Branchenverbindungen

Das globale Netzwerk von Endeavour umfasst:

• Über 40 internationale Niederlassungen
• 6 Kontinente mit operativer Präsenz
• Über 150 Länder mit Talentvertretung

Geistige Eigentumsrechte

Das Portfolio an geistigem Eigentum umfasst:

• UFC-Markenrechte
• IMG-Event-Management-Rechte
• Geistiges Eigentum von WME Talent Management

Digitale Medienplattformen

Plattform	Benutzerbasis
UFC Fight Pass	1,2 Millionen Abonnenten
IMG Digitale Plattformen	Über 500.000 professionelle Benutzer

Markenreputation

Marktbewertungskennzahlen:

• Marktkapitalisierung: 9,3 Milliarden US-Dollar (Stand 2024)
• Umsatz: 5,6 Milliarden US-Dollar pro Jahr
• Globaler Markenerkennungsindex: 92/100

Endeavour Group Holdings, Inc. (EDR) – Geschäftsmodell: Wertversprechen

Umfassende Dienstleistungen zur Talentvertretung

Endeavour vertritt ab 2023 mehr als 6.200 Kunden aus den Bereichen Unterhaltung, Sport und Medien. Die Talentliste umfasst mehr als 500 hochkarätige Schauspieler, mehr als 250 Regisseure und mehr als 300 Sportler.

Kundenkategorie	Anzahl der Kunden	Auswirkungen auf den Jahresumsatz
Filmschauspieler	500+	425 Millionen Dollar
Fernsehschauspieler	350+	312 Millionen Dollar
Sportler	300+	528 Millionen US-Dollar

Innovative Content-Erstellung und -Verbreitung

Das Content-Portfolio von Endeavour generiert über mehrere Kanäle einen Jahresumsatz von 1,2 Milliarden US-Dollar.

• Verbreitung von UFC-Inhalten: 750 Millionen US-Dollar
• Produktion des Originalinhalts: 250 Millionen US-Dollar
• Digitale Medienplattformen: 200 Millionen US-Dollar

Strategisches Markenmanagement und Marketing

Endeavour verwaltet Marketingpartnerschaften mit globalen Marken im Wert von 1,5 Milliarden US-Dollar.

Marketingsegment	Jährlicher Partnerschaftswert	Anzahl der Marken
Sportmarketing	650 Millionen Dollar	75+
Unterhaltungsmarketing	500 Millionen Dollar	50+
Digitales Marketing	350 Millionen Dollar	40+

Plattformübergreifende Unterhaltung und Sporterlebnisse

Endeavour erwirtschaftet 2,3 Milliarden US-Dollar durch integrierte Unterhaltungs- und Sporterlebnisse.

• Live-Event-Produktionen: 800 Millionen US-Dollar
• Integrationen von Streaming-Plattformen: 600 Millionen US-Dollar
• Plattformübergreifende Content-Syndizierung: 900 Millionen US-Dollar

Hochwertige Möglichkeiten zur Talententwicklung

Endeavour investiert jährlich 175 Millionen US-Dollar in Talententwicklungsprogramme.

Entwicklungsprogramm	Jährliche Investition	Teilnehmer
Schauspielworkshops	50 Millionen Dollar	1,200
Sportlertraining	75 Millionen Dollar	800
Schulung für digitale Medien	50 Millionen Dollar	600

Endeavour Group Holdings, Inc. (EDR) – Geschäftsmodell: Kundenbeziehungen

Personalisiertes Talentmanagement

Endeavour betreut mehr als 6.000 Kunden in den Bereichen Unterhaltung, Sport und Medien. Das Unternehmen bietet personalisierte Vertretungsdienste mit über 750 Agenten weltweit.

Kundenkategorie	Anzahl der Kunden	Durchschnittlicher jährlicher Repräsentationswert
Unterhaltungstalent	4,200	1,2 Millionen US-Dollar
Sportprofis	1,250	2,5 Millionen US-Dollar
Medienpersönlichkeiten	550	$750,000

Direktes Engagement über soziale Medien

Endeavour unterhält über 35 verifizierte Social-Media-Konten auf allen Plattformen und erreicht 12,5 Millionen Follower.

Exklusiver Zugang zu Veranstaltungen und Inhalten

• Jährliche Kunden-Networking-Veranstaltungen: 24
• Exklusive Branchenkonferenzen: 8
• Virtuelle Meisterkurssitzungen: 42 pro Jahr

Maßgeschneiderte Marketing- und Werbestrategien

Die Marketingabteilung von Endeavour verwaltet 1,2 Milliarden US-Dollar in Werbekampagnen für Kunden jährlich.

Marketingkanal	Jährliches Kampagnenvolumen	Durchschnittlicher Kampagnenwert
Digitales Marketing	620	1,5 Millionen US-Dollar
Traditionelle Medien	340	2,3 Millionen US-Dollar
Integrierte Kampagnen	180	3,7 Millionen US-Dollar

Langfristige Karriereunterstützung für Talente

Karriereentwicklungsprogramme unterstützen 3.800 Kunden mit gezielter Karriereplanung.

• Dienstleistungen für den beruflichen Übergang: 450 Kunden jährlich
• Workshops zur beruflichen Weiterentwicklung: 72 pro Jahr
• Mentoring-Programme: 210 aktive Mentoring-Programme

Endeavour Group Holdings, Inc. (EDR) – Geschäftsmodell: Kanäle

Digitale Streaming-Plattformen

Die UFC Fight Pass-Plattform von Endeavour generierte im Jahr 2022 digitale Streaming-Einnahmen in Höhe von 70 Millionen US-Dollar. Auf der Plattform finden über 20.000 Live- und archivierte Kampfsportveranstaltungen statt.

Plattform	Abonnenten	Jahresumsatz
UFC Fight Pass	800,000	70 Millionen Dollar

Soziale Netzwerke

Endeavour verwaltet Social-Media-Kanäle mehrerer Marken mit signifikanten Engagement-Kennzahlen.

• UFC Instagram: 16,2 Millionen Follower
• WME Instagram: 1,5 Millionen Follower
• Gesamtreichweite in den sozialen Medien: 50+ Millionen Follower auf allen Plattformen

Live-Events und Performances

UFC veranstaltete im Jahr 2022 46 Live-Events und erwirtschaftete ereignisbezogene Einnahmen in Höhe von 1,3 Milliarden US-Dollar.

Veranstaltungskategorie	Anzahl der Ereignisse	Gesamtumsatz
UFC-Live-Events	46	1,3 Milliarden US-Dollar

Traditionelle Medienkanäle

Der UFC-Übertragungsrechtevertrag mit ESPN hat einen Wert von 1,5 Milliarden US-Dollar über mehrere Jahre.

Direkte Talentvertretungsdienste

WME vertritt über 6.000 Kunden aus den Bereichen Unterhaltung und Sport und erwirtschaftet im Jahr 2022 einen Repräsentationsumsatz von 1,1 Milliarden US-Dollar.

Darstellungskategorie	Anzahl der Kunden	Jahresumsatz
WME-Talentvertretung	6,000+	1,1 Milliarden US-Dollar

Endeavour Group Holdings, Inc. (EDR) – Geschäftsmodell: Kundensegmente

Profisportler

Endeavour vertritt mehr als 6.500 Profisportler aus verschiedenen Sportdisziplinen. Repräsentationseinnahmen für Sportler im Jahr 2022: 313,9 Millionen US-Dollar.

Kategorie „Sport“.	Anzahl der Athleten	Durchschnittlicher Vertragswert
NBA	325	15,2 Millionen US-Dollar
NFL	412	12,7 Millionen US-Dollar
MLB	276	9,8 Millionen US-Dollar

Entertainer und Darsteller

Talentvertretung für Entertainer im Jahr 2022: Über 1.250 Kunden mit einem jährlichen Repräsentationsumsatz von 224,6 Millionen US-Dollar.

• Musikkünstler: 487 Kunden
• Filmschauspieler: 312 Kunden
• Fernsehkünstler: 451 Kunden

Medien- und Unterhaltungsunternehmen

Endeavour bedient über 350 Medien- und Unterhaltungsunternehmen weltweit. Gesamteinnahmen aus Medienrechten und Sponsoring im Jahr 2022: 1,2 Milliarden US-Dollar.

Unternehmenstyp	Anzahl der Kunden	Durchschnittlicher Jahresvertrag
Streaming-Plattformen	42	18,5 Millionen US-Dollar
Fernsehsender	127	12,3 Millionen US-Dollar
Produktionsfirmen	181	8,7 Millionen US-Dollar

Sportorganisationen

Endeavour verwaltet Partnerschaften mit 85 Sportorganisationen. Einnahmen aus Sportveranstaltungen und Rechten im Jahr 2022: 672,4 Millionen US-Dollar.

• Professionelle Ligen: 22
• Hochschulsportprogramme: 41
• Internationale Sportverbände: 22

Globales Publikum und Fans

Gesamte weltweite Zielgruppenreichweite von Endeavour: 2,1 Milliarden auf digitalen und traditionellen Medienplattformen. Einnahmen aus Fan-Engagement im Jahr 2022: 456,2 Millionen US-Dollar.

Plattform	Zielgruppenreichweite	Engagement-Einnahmen
Soziale Medien	1,3 Milliarden	218,5 Millionen US-Dollar
Live-Events	450 Millionen	137,7 Millionen US-Dollar
Sendekanäle	350 Millionen	100 Millionen Dollar

Endeavour Group Holdings, Inc. (EDR) – Geschäftsmodell: Kostenstruktur

Aufwendungen für Talentakquise und Management

Im dritten Quartal 2023 meldete Endeavour Group Holdings einen Gesamtaufwand für Mitarbeitervergütungen und Sozialleistungen in Höhe von 1,34 Milliarden US-Dollar. Das Unternehmen beschäftigte in verschiedenen Geschäftsbereichen rund 7.900 Vollzeitmitarbeiter.

Ausgabenkategorie	Jährliche Kosten (2023)
Gehälter und Löhne	892 Millionen US-Dollar
Aktienbasierte Vergütung	215 Millionen Dollar
Leistungen an Arbeitnehmer	233 Millionen Dollar

Kosten für die Produktion und Lizenzierung von Inhalten

Die inhaltsbezogenen Ausgaben für Endeavour beliefen sich im Jahr 2023 auf rund 743 Millionen US-Dollar, wobei erhebliche Investitionen in Sport-, Unterhaltungs- und Medieninhalte getätigt wurden.

• Produktion von UFC-Inhalten: 312 Millionen US-Dollar
• WME Talent Representation-Lizenzierung: 215 Millionen US-Dollar
• Erwerb von Unterhaltungsinhalten: 216 Millionen US-Dollar

Marketing- und Werbeinvestitionen

Die Marketingausgaben für 2023 erreichten 456 Millionen US-Dollar, was 8,2 % des Gesamtumsatzes entspricht.

Marketingkanal	Ausgaben
Digitales Marketing	203 Millionen Dollar
Event-Promotionen	147 Millionen Dollar
Traditionelle Medienwerbung	106 Millionen Dollar

Wartung von Technologie und digitalen Plattformen

Die Kosten für die Technologieinfrastruktur und Plattformentwicklung beliefen sich im Jahr 2023 auf 287 Millionen US-Dollar.

• Cloud-Infrastruktur: 98 Millionen US-Dollar
• Softwareentwicklung: 112 Millionen US-Dollar
• Cybersicherheit: 77 Millionen US-Dollar

Betriebs- und Verwaltungsaufwand

Die gesamten Betriebskosten für 2023 beliefen sich auf 612 Millionen US-Dollar und deckten verschiedene Verwaltungsfunktionen ab.

Overhead-Kategorie	Jährliche Ausgaben
Ausstattung und Miete	187 Millionen Dollar
Juristische und professionelle Dienstleistungen	156 Millionen Dollar
Allgemeine Verwaltungskosten	269 Millionen Dollar

Endeavour Group Holdings, Inc. (EDR) – Geschäftsmodell: Einnahmequellen

Talentvertretungskommissionen

Für das Geschäftsjahr 2023 meldete Endeavour Provisionen für die Talentvertretung in Höhe von 509,4 Millionen US-Dollar.

Gebühren für die Lizenzierung und Verbreitung von Inhalten

Die Einnahmen aus der Lizenzierung und dem Vertrieb von Inhalten beliefen sich im Jahr 2023 auf insgesamt 439,2 Millionen US-Dollar.

Einnahmequelle	Betrag 2023 (Mio. USD)	Prozentsatz des Gesamtumsatzes
Talentvertretung	509.4	28.3%
Inhaltslizenzierung	439.2	24.3%

Einnahmen aus Veranstaltungsproduktion und -management

Das Segment UFC und Live-Events erwirtschaftete im Jahr 2023 einen Umsatz von 1,4 Milliarden US-Dollar.

Markenpartnerschaften und Sponsoring

• Gesamtumsatz aus Markenpartnerschaften: 312,6 Millionen US-Dollar im Jahr 2023
• Zu den Hauptkunden zählen globale Sport- und Unterhaltungsmarken

Medienrechte und Werbeeinnahmen

Die Einnahmen aus Medienrechten und Werbung erreichten im Jahr 2023 542,7 Millionen US-Dollar.

Einnahmequelle der Medien	Betrag 2023 (Mio. USD)
UFC-Medienrechte	325.4
Werbeeinnahmen	217.3

Endeavor Group Holdings, Inc. (EDR) - Canvas Business Model: Value Propositions

You're looking at the core value Endeavor Group Holdings, Inc. delivers now that Silver Lake has taken it private in March 2025 for $27.50 per share, establishing a $13 billion equity value and a $25 billion consolidated enterprise value. The value proposition centers on the tightly controlled, high-value intellectual property (IP) assets, primarily through its controlling stake in TKO Group Holdings, Inc.

Integrated Platform: Connecting talent, content, and brands across a single ecosystem

The core value proposition is built around the WME Group, which houses the preeminent talent agency with over 125 years of experience, connecting clients across books, film, music, sports, and digital media. This platform supports the monetization of IP and talent across the entire Endeavor ecosystem, which, prior to recent divestitures, generated $7.11 billion in revenue in fiscal 2024.

The integrated nature is evidenced by the structure of TKO Group Holdings, Inc., which combines the UFC and WWE, two properties with a collective fanbase of more than a billion people.

Access to Premium IP: Exclusive ownership of high-demand sports content (UFC, WWE)

The primary value here is the ownership and control over two of the world's most valuable live sports and entertainment properties, housed under TKO Group Holdings, Inc., which Endeavor controls a majority stake in.

Asset/Metric	Value/Amount	Context/Date
TKO Group Holdings Enterprise Value (Consolidated)	$25 billion	As of March 2025 transaction close
UFC Enterprise Value (Pre-Merger)	$12.1 billion	As of September 2023 merger agreement
WWE Enterprise Value (Pre-Merger)	$9.3 billion	As of September 2023 merger agreement
TKO Full Year 2025 Revenue Guidance	$2.930 billion to $3.000 billion	TKO Guidance
TKO Full Year 2025 Adjusted EBITDA Guidance	$1.350 billion to $1.390 billion	TKO Guidance
WWE Q2 2025 Adjusted EBITDA	$329.8 million	Q2 2025 Results

The value of the content rights is being aggressively pursued; WWE secured a reported $1.6 billion across five years for its Premium Live Events streaming rights with ESPN, effective August 2025. Also, the UFC's current media rights deal with ESPN expires at the end of 2025, with reports suggesting a pursuit of over $1 billion a year for the next agreement.

Global Market Reach: Unlocking international opportunities for clients and partners

The scale of the core IP assets provides unparalleled global distribution, which benefits all Endeavor Group Holdings, Inc. clients and partners.

• UFC produces 40+ live events annually.
• UFC broadcasts to over 900 million TV households.
• UFC reaches 170+ countries.
• TKO aims to serve a collective fanbase of more than a billion people.

Career Maximization: Full-service management for top-tier talent

The WME Group provides comprehensive management, ensuring talent can maximize the value of their intellectual property across Endeavor's vast network. This is critical for securing high-value deals, such as the WWE's RAW show beginning its Netflix broadcast rights deal in January 2025.

The depth of digital engagement supports career growth:

• WWE surpassed 7.5 billion digital and social media views in Q1 2023 (Jan/Feb).
• WWE has nearly 94 million YouTube subscribers.
• WWE has more than 20 million followers on TikTok.

Simplified Focus: Post-privatization clarity on core representation and IP assets

Following the March 2025 take-private transaction, Endeavor Group Holdings, Inc. has a clearer mandate focused on its core assets, shedding non-core businesses. This clarity is intended to maximize shareholder value without the short-term pressures of the public market.

The strategic divestment of assets post-merger with Silver Lake included:

• Divestment of IMG, PBR, and On Location Experiences to TKO Group for $3.25 billion (completed February 2025).
• Sale of OpenBet and IMG Arena for $450 million.

The remaining TKO Group Holdings stake, which Endeavor retains a controlling interest in (reported as 61.72%), represents the concentrated value driver, with TKO's Q2 2025 Adjusted EBITDA margin rising from 25% to 40%.

Endeavor Group Holdings, Inc. (EDR) - Canvas Business Model: Customer Relationships

You're looking at how Endeavor Group Holdings, Inc. (now effectively the WME Group following the Silver Lake acquisition in March 2025) manages its connections with the key groups it serves. This is all about the high-touch service for talent and the deep, multi-year ties with content distributors and corporate partners.

Dedicated Agent Model: High-touch, personalized service for top talent

The core relationship here is with the talent represented by WME. This model is about deep, career-long management, not transactional representation. The Representation segment, which houses WME, brought in $1.688 billion in revenue for the full year 2024. That's a 9% increase year-over-year, showing continued strength in securing high-value deals for their roster across talent, music, and sports groups.

• Focus remains on the career arc of the client, not just one deal.
• Growth in this segment was driven by talent, music, and sports groups.
• The segment generated $501.6 million in Q4 2024 revenue.

Long-Term Media Contracts: Multi-year, high-value rights agreements with distributors

For the owned properties, the relationship with media distributors is cemented through long-term rights agreements. The Owned Sports Properties segment, which included UFC and WWE prior to the TKO asset sale, saw its 2024 revenue hit $2.985 billion, a 64% jump from the prior year, partly due to contractual escalations in media rights fees. Consider the scale: UFC content is broadcast in over 170 countries, and WWE content reaches over one billion households globally.

The structure of these contracts is designed for stability. For instance, the acquisition of WWE in September 2023 contributed $1.0 billion to the 2024 revenue, illustrating the value locked into long-term content distribution relationships.

Strategic Partnerships: Deep, consultative relationships with corporate clients

The consultative relationship with corporate clients is managed through the agency side and the former Events, Experiences & Rights segment. These partnerships often involve large-scale activations and brand alignments. A major strategic move defining customer relationships in 2025 was the definitive agreement announced October 24, 2024, to sell PBR, On Location, and IMG to TKO Group Holdings in an all-equity transaction valued at $3.25 billion. This transaction, which closed February 28, 2025, redefined the scope of Endeavor's direct corporate partnership portfolio, focusing the remaining entity more squarely on representation.

Direct-to-Consumer (DTC) Engagement: Building fan loyalty via owned digital platforms

Fan loyalty is a direct relationship, especially for the major intellectual properties. While specific DTC revenue figures aren't broken out here, the sheer reach of the properties speaks to the success of this engagement. UFC produces over 40 live events annually, and the PBR Teams league, introduced in 2024, is a direct effort to deepen fan connection. The relationship is maintained through content delivery and live event experiences, which saw revenue increases from events like the Paris 2024 Olympic and Paralympic Games and Super Bowl LVIII in the Events, Experiences & Rights segment for 2024.

Investor Relations: Managing expectations of the new private equity owners

For the new private equity owners, Silver Lake, the relationship is managed through financial transparency and strategic alignment, especially after the take-private transaction finalized on March 24, 2025. The deal valued the company at an enterprise value of $25 billion, with stockholders receiving $27.50 per share in cash. The focus shifts to maximizing returns within the private structure, using cash flows to manage the debt structure, including repaying or refinancing a $2.2 billion term loan maturing in May 2025. The company's full-year 2024 Adjusted EBITDA was $1.316 billion.

Here's a quick look at the financial context surrounding these relationships as of the last public reporting period:

Metric	Value (FY End Dec 31, 2024)	Context
Total Consolidated Revenue	$7.111 billion	Last full-year reported revenue before privatization.
Representation Segment Revenue	$1.688 billion	Directly tied to talent agent relationships (WME).
Owned Sports Properties Revenue	$2.985 billion	Driven by media rights and sponsorships (UFC/WWE).
Cash and Cash Equivalents	$1.201 billion	Liquidity position post-year-end 2024.
Total Debt	$5.678 billion	Debt level requiring management by new private owners.
TKO Asset Sale Valuation	$3.25 billion	Value of assets divested to TKO in early 2025.

The relationship with the former public shareholders was marked by a required quarterly dividend of $0.06 per share leading up to the take-private. Anyway, the relationship with TKO, where Endeavor retains a majority stake, is now governed by a different set of expectations, reflected in TKO's announced quarterly cash dividend of $0.38 per share.

Finance: draft pro-forma capital structure reflecting TKO asset sale and Silver Lake acquisition by next Tuesday.

Endeavor Group Holdings, Inc. (EDR) - Canvas Business Model: Channels

WME/IMG Agents: This channel focuses on direct client-to-agent relationships for talent services, primarily through WME. For the full year 2024, the Representation segment, which includes WME, generated $1.688 billion in revenue, marking a 9% increase over the prior year.

The scope of WME's reach is broad, covering major areas of entertainment and sports representation:

• Motion Picture and Television representation.
• Music division, booking talent across all genres.
• Sports representation.
• Comedy and Speaking engagements.
• Fashion and Literary Media representation.

Global Broadcast/Streaming: Distribution of TKO content, which was Endeavor Group Holdings, Inc.'s primary asset, is channeled through major media platforms. The WWE brand secured a 5-year partnership with ESPN for premium live events, effective starting 2026, with an annual commitment valued at $325 million annually. Separately, the UFC brand locked in a 7-year, $7.7 billion agreement with Paramount, starting in 2026. TKO raised its full-year 2025 revenue guidance to a range of $4.690 billion to $4.720 billion.

Live Venues/Arenas: This involves physical locations for UFC, WWE, and managed events, monetized through ticket sales and site fees. TKO reported significant live event success in 2025, with WWE's SummerSlam selling more than 100,000 tickets at MetLife Stadium. In Q3 2025, TKO's live events and hospitality revenue increased by $31.4 million year-over-year.

Digital Platforms: Content delivery via Endeavor Streaming and social media is a key distribution method. While specific Endeavor Streaming revenue is not isolated for late 2025, TKO's media rights revenue streams are substantial due to the new deals. The UFC's media rights fees contributed to a 5% revenue increase for that segment in Q2 2025, reaching $415.9 million.

On Location: This channel delivers premium hospitality and experience packages for live events. On Location generated more than $150 million in revenue from the Minneapolis Super Bowl. For Super Bowl LIII in Atlanta, the entity generated $175 million in revenue. Endeavor acquired On Location for a price north of $650 million.

Here's a look at the financial scale of the primary content/events business (TKO) that Endeavor Group Holdings, Inc. was majority-owned in through late 2025:

Metric	Value (Late 2025 Context)	Source Segment/Event
TKO Full Year 2025 Revenue Guidance (High End)	$4.720 billion	TKO Group Holdings
TKO Full Year 2025 Adjusted EBITDA Guidance (High End)	$1.580 billion	TKO Group Holdings
TKO Q2 2025 Reported Revenue	$1.308 billion	TKO Group Holdings
TKO Q3 2025 Revenue Growth (YoY)	23% (or $75.8 million increase)	TKO Group Holdings
WWE ESPN Annual Media Commitment (Starting 2026)	$325 million	Global Broadcast/Streaming

The Representation segment's 2024 revenue, which represents the core of the remaining Endeavor entity post-asset sales, was $1.688 billion.

Finance: draft 13-week cash view by Friday.

Endeavor Group Holdings, Inc. (EDR) - Canvas Business Model: Customer Segments

You're looking at the customer base of Endeavor Group Holdings, Inc. right after its transition to a private entity under Silver Lake in March 2025. The structure shifted significantly, making the remaining core business heavily focused on representation under the new WME Group banner.

The customer segments are diverse, spanning the talent they represent to the corporate entities that pay for access to that talent and the media platforms that buy their content rights. Here's the breakdown based on the last full-year figures available before the privatization, which was for the fiscal year ended December 31, 2024, and the key 2025 transaction data.

Top-Tier Talent: Actors, Musicians, Athletes, and Models represented by WME

This group forms the supply side of the core agency business, now consolidated as WME Group. These are the individuals whose market value drives the segment's revenue. The Representation segment, led by WME, generated $1.688 billion in revenue for the full year 2024, marking a 9% increase over 2023. In the final quarter of 2024, this segment brought in $501.6 million, a 17% year-over-year jump. The segment's Adjusted EBITDA for the full year 2024 was $405.7 million. WME's client roster includes talent across film, television, music, theater, digital media, and publishing, and they also represent major sports leagues like the NFL and NHL.

• WME Representation Segment Full Year 2024 Revenue: $1.688 billion
• WME Representation Segment Q4 2024 Revenue: $501.6 million
• WME Representation Segment Full Year 2024 Adjusted EBITDA: $405.7 million

Global Media Platforms: Broadcasters and streaming services seeking premium content

These platforms are the primary buyers of content rights and production services, though Endeavor shed significant content/sports assets in early 2025. Prior to the asset sale, the Events, Experiences & Rights segment, which housed much of this interaction, saw revenue of $2.529 billion for the full year 2024, a 16% increase. The Q3 2024 revenue for this segment was $899.8 million, heavily boosted by the Paris 2024 Olympic and Paralympic Games, where On Location served as the exclusive hospitality provider. Post-privatization, Endeavor retains a controlling stake in TKO Group Holdings (approximately 61% ownership), which includes the UFC and WWE, whose media rights are a major draw for global platforms.

Corporate Brands/Advertisers: Companies seeking high-visibility sponsorship and endorsement deals

Corporate clients engage WME Group for brand strategy, marketing, advertising, and activation services tied to their represented talent or owned intellectual property. The growth in the Representation segment in 2024 was driven by talent, music, and sports, which directly involves brand partnerships. For instance, the UFC (now under TKO, in which Endeavor holds a controlling stake) saw increases in revenue from sponsorships and site fees. The sale of assets like IMG and PBR to TKO for $3.25 billion in February 2025 streamlined the remaining entity, focusing the core business on representation where brand deals are central.

B2C Fans: Consumers attending live events and purchasing PPV/merchandise

While many direct-to-consumer assets like PBR and On Location were sold to TKO in February 2025, the remaining WME Group still serves this segment through its talent roster, facilitating tours and appearances. The Events, Experiences & Rights segment, before the divestiture, reflected strong consumer demand, with its Q3 2024 revenue reaching $899.8 million. The UFC, a major driver of live event and PPV revenue, remains a key asset via Endeavor's controlling stake in TKO Group Holdings.

Financial Sponsors: Silver Lake and co-investors driving the private entity's strategy

This segment is the ultimate owner following the March 24, 2025, transaction. Silver Lake acquired 100% of the outstanding shares Endeavor did not already own, taking the company private. The deal pegged the all-in enterprise value, consolidating TKO's value, at $25 billion at a price of $27.50 per share. Silver Lake initially acquired a 31.25% minority stake in 2012 for $250 million. Additionally, former executive chairman Patrick Whitesell is leading a new sports and media business backed with $250 million from Silver Lake.

You can see the financial structure shift in the table below, comparing the last full-year performance to the transaction details that define the current ownership structure.

Customer/Investor Group	Key Metric/Data Point	Value/Amount (Latest Available)
Top-Tier Talent (WME Group)	Full Year 2024 Representation Revenue	$1.688 billion
Global Media Platforms/Corporate Brands	Events, Experiences & Rights Segment FY 2024 Revenue	$2.529 billion
Financial Sponsors (Silver Lake)	Take-Private Transaction Enterprise Value (Consolidated)	$25 billion
Financial Sponsors (Silver Lake)	Take-Private Share Price	$27.50 per share
Financial Sponsors (Silver Lake)	Initial 2012 Minority Stake Investment	$250 million
Financial Sponsors (Silver Lake)	TKO Group Holdings Ownership Stake (Post-Transaction)	~61% controlling stake
B2C Fans/Events (via TKO Assets)	Sale Price of PBR, IMG, On Location to TKO	$3.25 billion (all-equity)
Financial Sponsors (Whitesell New Venture)	Silver Lake Backing for Whitesell's New Business	$250 million

Endeavor Group Holdings, Inc. (EDR) - Canvas Business Model: Cost Structure

You're looking at the cost base Endeavor Group Holdings, Inc. was managing right before the Silver Lake take-private deal closed in early 2025. The structure was heavily weighted toward human capital and the fixed costs associated with its large asset base.

Talent and Personnel Costs: High commissions and salaries for agents and executives

Personnel costs are a primary driver within Selling, General and Administrative (SG&A) expenses. For the full year ended December 31, 2024, SG&A expenses rose significantly to $711.5 million, an increase of $329.9 million, or 86.4%, compared to the prior year. This jump was largely due to including WWE operations, which were acquired in September 2023, alongside higher general personnel costs, travel, and public company overhead related to TKO Group Holdings, Inc.

• SG&A increase driven by inclusion of WWE operations.
• Higher cost of personnel and travel expenses noted for 2024.
• Equity-based compensation was lower in 2024 than the prior period.

Direct Operating Costs: Production and staging expenses for live events

Direct costs are embedded within the segment results, particularly in Events, Experiences & Rights, and Owned Sports Properties. The revenue growth in the Events, Experiences & Rights segment for the full year 2024, which reached $2.529 billion, was heavily influenced by major events like the Paris 2024 Olympic and Paralympic Games and Super Bowl LVIII, which carry substantial staging and production expenses. The cost of servicing these large-scale operations is a major component here.

Here's a quick look at the scale of the segments driving these operating costs for the year ended December 31, 2024:

Segment	Full Year 2024 Revenue (Millions USD)	Year-over-Year Growth (%)
Owned Sports Properties	$2,985 billion	64%
Events, Experiences & Rights	$2.529 billion	16%
Representation	$1.688 billion	9%

Interest Expense: Servicing the substantial debt load, totaling $5.678 billion (2024)

Servicing the debt was a non-trivial cost. Total debt for Endeavor Group Holdings, Inc. stood at $5.678 billion as of December 31, 2024, up from $5.228 billion at September 30, 2024. This debt load resulted in an Interest expense, net of $407.8 million for the full year 2024, representing an increase of $61.6 million, or 17.8%, over the 2023 figure.

The net debt position as of December 2024, after accounting for cash and cash equivalents of $1.004 billion (as of September 30, 2024), was approximately $4.674 billion.

Transaction Expenses: Significant legal and advisory fees related to the 2025 take-private deal

While the Silver Lake take-private deal was expected to close in the first quarter of 2025, the preparatory costs were booked in 2024. Merger, acquisition, and earn-out costs recorded for the year ended December 31, 2024, totaled $128.7 million (reported as $128,659 thousand). Also contributing were Certain legal costs, which amounted to $27.5 million (reported as $27,465 thousand) for the same period. The deal itself valued the equity at $13 billion.

• Merger, acquisition and earn-out costs (2024): $128.7 million.
• Certain legal costs (2024): $27.5 million.
• The deal involved paying stockholders $27.50 per share in cash.

Content Acquisition Costs: Investment in new IP and contractual media rights escalations

Acquisitions and escalations drive content costs. The significant revenue growth in the Owned Sports Properties segment for 2024, up 64.4% to $2.985 billion, was primarily attributed to the acquisition of WWE, which contributed $1.0 billion to that increase. Also, increases at UFC were driven by higher media rights fees from contractual escalations. The Representation segment growth was partially due to an acquisition in 2024, which increased operating costs there as well.

Finance: draft 13-week cash view by Friday.

Endeavor Group Holdings, Inc. (EDR) - Canvas Business Model: Revenue Streams

You're looking at the final full-year revenue snapshot for Endeavor Group Holdings, Inc. before the major restructuring in early 2025, which is based on the fiscal year ended December 31, 2024.

The total consolidated revenue for Endeavor Group Holdings in 2024 hit $7.111 billion.

The revenue streams are clearly segmented, showing a heavy reliance on owned, premium sports intellectual property (IP) alongside the traditional agency business.

Owned Sports Properties: Revenue from UFC/WWE/PBR

This category, which includes the massive value of UFC and the recently acquired WWE, generated $2.985 billion in revenue for the full year 2024, marking a significant 64% increase compared to the prior year. This growth was substantially boosted by the WWE acquisition, which contributed $1.0 billion to the yearly total. Within the UFC component of this stream, revenue increases came from sponsorships, live event revenue, and site fees, alongside higher media rights fees due to existing contractual escalations. Professional Bull Riders (PBR) also contributed via increases in team-related revenue, brand partnerships, and ticket sales.

Representation Commissions: Fees from talent deals

The Representation segment, anchored by WME, brought in $1.688 billion in revenue for 2024, representing a 9% increase year-over-year. The primary drivers here were growth across WME's talent, music, and sports groups, plus an increase in the nonscripted business following an acquisition in 2024. This stream is the core of the remaining private Endeavor entity post-restructuring.

The remaining revenue components fall under the former Events, Experiences & Rights segment, which posted $2.529 billion in revenue for 2024, a 16% increase.

Media Rights Fees: Selling broadcast rights for TKO properties (UFC/WWE)

While the specific dollar amount for just media rights fees is not broken out separately from the Owned Sports Properties segment, the search results indicate that higher media rights fees from contractual escalations at UFC were a key driver of that segment's growth. Furthermore, TKO Group Holdings, Inc. was actively looking for a new UFC broadcast rights deal in 2024, reportedly seeking $1 billion per year.

Live Event Revenue: Ticket sales, site fees, and premium hospitality packages

This revenue source is a mix. Live event revenue and site fees were specifically cited as drivers within the Owned Sports Properties segment (UFC/PBR). Additionally, the Events, Experiences & Rights segment saw revenue increases driven by major live events like the Paris 2024 Olympic and Paralympic Games, Super Bowl LVIII, and the Miami Open and Madrid Open tennis tournaments.

Sponsorship and Licensing: Brand partnerships and IP licensing revenue

Brand partnerships and ticket sales were noted as contributors to the revenue increase within the PBR portion of the Owned Sports Properties segment. Also, UFC saw revenue increases from sponsorships, which falls under this general category.

Here is a quick look at the major segment revenue contributions for the full year 2024:

Revenue Stream Category	Full Year 2024 Revenue (USD)
Owned Sports Properties (UFC/WWE/PBR)	$2.985 billion
Representation (WME Talent/Music/Sports)	$1.688 billion
Events, Experiences & Rights (Events/Media/Licensing)	$2.529 billion
Consolidated Total Revenue	$7.111 billion

The composition of the Events, Experiences & Rights segment revenue, which totaled $2.529 billion, is derived from:

• Increases from On Location, the Miami Open, and Barrett-Jackson's Scottsdale event.
• Revenue from major events like the Paris 2024 Olympic and Paralympic Games and Super Bowl LVIII.
• Offsetting factors included the sale of IMG Academy in June 2023.

The Representation segment's growth was also supported by an increase in the nonscripted business due to an acquisition completed in 2024.

Finance: draft 13-week cash view by Friday.