REVENUE

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUE

16.REVENUE

The following table presents the Company’s revenue disaggregated by primary revenue sources for the three and nine months ended September 30, 2024 and 2023 (in thousands):

	Three Months Ended September 30, 2024
	Owned Sports Properties		Events, Experiences & Rights		Representation		Total
Media rights	$	408,816	$	88,963	$	—	$	497,779
Technology platforms and services		—		12,874		—		12,874
Media production, distribution and content		14,175		87,144		47,097		148,416
Events and performance		272,827		710,780		—		983,607
Talent representation and licensing		39,387		—		302,101		341,488
Marketing		—		—		80,009		80,009
Eliminations		—		—		—		(32,383	)
Total	$	735,205	$	899,761	$	429,207	$	2,031,790

	Nine Months Ended September 30, 2024
	Owned Sports Properties		Events, Experiences & Rights		Representation		Total
Media rights	$	1,274,891	$	308,498	$	—	$	1,583,389
Technology platforms and services		—		36,744		—		36,744
Media production, distribution and content		18,266		205,676		170,608		394,550
Events and performance		895,629		1,565,961		—		2,461,590
Talent representation and licensing		125,905		—		771,979		897,884
Marketing		—		—		243,377		243,377
Eliminations		—		—		—		(74,826	)
Total	$	2,314,691	$	2,116,879	$	1,185,964	$	5,542,708

	Three Months Ended September 30, 2023
	Owned Sports Properties		Events, Experiences & Rights		Representation		Total
Media rights	$	261,545	$	88,002	$	—	$	349,547
Technology platforms and services		—		13,996		—		13,996
Media production, distribution and content		1,180		82,648		71,591		155,419
Events and performance		195,575		182,418		—		377,993
Talent representation and licensing		21,448		—		227,389		248,837
Marketing		—		—		86,639		86,639
Eliminations		—		—		—		(12,884	)
Total	$	479,748	$	367,064	$	385,619	$	1,219,547

	Nine Months Ended September 30, 2023
	Owned Sports Properties		Events, Experiences & Rights		Representation		Total
Media rights	$	632,277	$	323,116	$	—	$	955,393
Technology platforms and services		—		43,478		—		43,478
Media production, distribution and content		4,816		216,656		221,164		442,636
Events and performance		486,444		1,175,678		—		1,662,122
Talent representation and licensing		49,588		—		654,741		704,329
Marketing		—		—		241,103		241,103
Eliminations		—		—		—		(27,888	)
Total	$	1,173,125	$	1,758,928	$	1,117,008	$	4,021,173

In the three months ended September 30, 2024 and 2023, there was revenue recognized of $19.3 million and $16.2 million, respectively, from performance obligations satisfied in prior periods. In the nine months ended September 30, 2024 and 2023, there was revenue recognized of $43.9 million and $39.3 million, respectively, from performance obligations satisfied in prior periods.

Remaining Performance Obligations

The following table presents the aggregate amount of transaction price allocated to remaining performance obligations for contracts greater than one year with unsatisfied or partially satisfied performance obligations as of September 30, 2024 (in thousands). The transaction price related to these future obligations does not include any variable consideration or fees associated with contracts with opt-out provisions.

	Years Ending December 31,
Remainder of 2024	$	622,389
2025		2,832,563
2026		1,659,409
2027		1,477,133
2028		1,322,743
Thereafter		1,423,983
	$	9,338,220

Contract Liabilities

The Company records deferred revenue when cash payments are received or due in advance of its performance. The Company’s deferred revenue balance primarily relates to advance payments received related to advertising and sponsorship agreements and event advanced ticket sales. Deferred revenue is included in the current liabilities section and in other long-term liabilities in the consolidated balance sheets.

The following table presents the Company’s contract liabilities as of September 30, 2024 and December 31, 2023 (in thousands):

Description	December 31, 2023		Additions		Deductions			Foreign Exchange		September 30, 2024
Deferred revenue - current	$	802,344	$	2,378,639	$	(2,673,440	)	$	2,211	$	509,754
Deferred revenue - noncurrent	$	18,915	$	33,864	$	(3,857	)	$	57	$	48,979