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EX - 99.1 2 d211672dex991.htm EX - 99.1 Exhibit 99.1 ENDEAVOR Endeavor Releases First Quarter 2021 Results Beverly Hills , CA ( June 2 , 2021 ) – Endeavor Group Holdings , Inc. ( NYSE : EDR ) , a global entertainment , sports and content company , today released its financial results for the quarterly period ended March 31 , 2021 , and provided guidance for the fiscal year . Q1 2021 Financial Highlights • • • Revenue was $ 1.07 billion , compared to $ 1.19 billion in the first quarter of 2020 prior to the pandemic's impact . Operating Income was $ 94.5 million , compared to $ 53.8 million in the first quarter of 2020 . Net Income was $ 2.4 million compared to Net Loss of $ 51.3 million in the first quarter of 2020 . Adjusted EBITDA and Adjusted Net Income increased to $ 199.5 million and $ 58.1 million , respectively , compared to $ 176.2 million and $ 43.8 million in the first quarter of 2020 . " As we emerge from the pandemic , we are witnessing strong demand for all forms of content , ” remarked Ariel Emanuel , CEO , Endeavor . " Our company was purpose - built to fulfill this demand on a global scale – be it live events and experiences or premium on - screen content . While our first quarter results were still negatively impacted by COVID - 19 , we are well positioned to benefit from the pent - up demand for content , while maintaining our long - term focus on secular trends and high - growth areas that have been both validated and amplified by the pandemic . " Much of the demand is coming via the company's experiences business , which includes On Location , acquired in January of 2020 just before the pandemic began impacting events . The International Olympic Committee ( IOC ) today named On Location the global hospitality provider for the Olympic and Paralympic Games , covering three Games , beginning with Paris 2024. This significant relationship marks the first time the IOC has appointed a company as a global hospitality provider for multiple editions of the Games . Other distinguished partners to On Location include the NFL , NCAA and the PGA Championship . Q1 2021 Segment Operating Results At the segment level , Owned Sports Properties revenue increased $ 51.3 million , or 22.1 % , to $ 283.5 million , compared to the first quarter of 2020 , driven by increased event output and higher media rights and sponsorship fees at UFC . The segment's Adjusted EBITDA for the quarter increased $ 43.3 million , or 42.3 % , to $ 145.5 million , compared to the first quarter of 2020 , driven primarily by the increase in revenue at UFC , slightly offset by an increase in operating expenses . Events , Experiences & Rights segment revenue decreased $ 129.2 million , or 19.3 % , to $ 539.6 million , compared to the first quarter of 2020 , primarily attributable to the cancellation of events due to COVID - 19 , partially offset by media rights fees associated with several events that were postponed in 2020 and moved to the first quarter of 2021. The segment's Adjusted EBITDA for 1