Endeavor Group Holdings, which went public nearly a year ago, closed 2021 with a net loss but exceeded Wall Street revenue forecasts.Losses totaled $16.7 million in the period, though on an adjusted basis EBITDA was $229.5 million.
Revenue, meanwhile, hit $1.5 billion in the quarter ending December 31.The company owns talent agencies WME and IMG as well as mixed martial arts leader UFC.Endeavor’s representation division, which includes its agency businesses, saw revenue rocket up 161% compared with the Covid-stricken year-ago period, reaching $717.9 million.
The company credited the timing of content delivered by Endeavor Content, the content division now 80%-owned by Korea’s CJ ENM.
Other drivers included higher client commissions and licensing and corporate spending on marketing and experiential activations, which had been nearly dormant during the pandemic.
Read more on deadline.com
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