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Endeavor Pares Losses But Still Bleeds Red Ink In 2021

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LOS ANGELES (CelebrityAccess) — Sports and entertainment company Endeavor announced the financial results for the 4th quarter of 2021 and their full year results, revealing steep losses in 2021.

According to Endeavor’s financial filings, the company generated revenue of $1.5 billion for the 4th fiscal quarter of 2021 and a net loss of $16.7 million.

For the full year, Endeavor generated $5.1 billion in revenue but posted a net loss of $467.5 million.

“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.”

Endeavor’s owned sports properties segment reported revenue of $277.3 million for the fourth quarter, up $8.3 million, or 3%, compared to the prior-year quarter. For the full year, revenue for the segment was up by %16 percent to $1.1 billion, when measured against the prior year.

According to Endeavor, their results in the segment were driven by increased media rights fees, new sponsorship deals and event-related revenue, including nine sold-out UFC pay-per-view events with live audiences, an increase in PBR events, and the successful completion of the Euroleague season.

Endeavor’s Events, Experiences & Rights segment revenue topped $156 million in the quarter, up 23% year over year and $2.0 billion for the year, up $437.8 million, or 28%, compared to the prior year.

Endeavor cited higher media rights fees and the return of live events as key drivers for the segment.

The agency’s representation business also proved to be a bright spot for Endeavor’s financials, reporting revenue of $717.9 million for the quarter, up $443.2 million, or 161%, compared to the prior-year quarter, and $2 billion for the full year, up 100% from the $1 billion realized by the segment in 2020.

Endeavor attributed performance for the segment to an increase in content deliveries at Endeavor Content and an increase in client commissions, licensing and corporate spending on marketing and experiential activations, which was weighed by COVID-19 in the prior year.

For 2022, Endeavor is projecting revenue between $5.2 billion and $5.45 billion.

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