Can TKO Break Ticketmaster’s Live Events Grip?
TKO Group Holdings, parent company of UFC and WWE, faces speculation as a challenger to Ticketmaster’s control over live event ticketing. Live Nation’s recent antitrust settlement opens doors for competitors like StubHub and SeatGeek. These platforms trend amid shifts in the market.
Settlement Changes Ticketing Rules
Live Nation settled a U.S. Department of Justice antitrust lawsuit filed in 2024. The agreement requires court approval and includes a $280 million payment to suing states. Ticketmaster must allow rivals such as SeatGeek to sell tickets through parts of its platform.
Venues gain options to use competitors like StubHub and SeatGeek for ticket sales. Exclusive contracts with Ticketmaster now limit to four years. Service fees cap at 15% of ticket price.
Live Nation controls over 460 venues and Ticketmaster holds about 80% of primary ticketing. The settlement ends requirements for artists booking Live Nation venues to use Ticketmaster exclusively.
TKO’s Live Events Position
TKO formed in 2023 from the UFC and WWE merger. It created a Live Events Strategy Team to manage scheduling, ticketing, and fan experiences across both brands. WWE live event revenue reached $82.5 million in Q3 2025, up from $51.1 million the prior year.
Ticket prices for WWE’s North American TV events nearly doubled since the merger, averaging higher in 2025 data from Pollstar. Distribution grew to 11,500 tickets per RAW and SmackDown show. TKO reports strong demand. WWE President Nick Khan noted plans to raise prices where capacity stays high. European tour tickets sold well ahead of 2026 Royal Rumble in Saudi Arabia.
Ticketmaster, StubHub, and SeatGeek
StubHub lists resale tickets for UFC events like Fight Night: Evolev vs. Murphy at The O2 Arena on March 21, 2026. Prices start at £320 for upper seats. SeatGeek appears in settlement terms as a direct beneficiary. Its features like DealScore compare prices, drawing users seeking options beyond Ticketmaster. Ticketmaster remains primary for official UFC and WWE sales, but secondary markets gain from high demand. TKO events fill arenas, pushing resales on StubHub and SeatGeek.
The settlement affects all live events, including TKO’s 300+ WWE shows and 40-45 UFC cards yearly. Venues like T-Mobile Arena extended deals with TKO through 2030. TKO pursues $1 billion in partnerships, including ticketing.
The Live Nation settlement hands UFC events under TKO a direct opening against Ticketmaster’s dominance, as venues like T-Mobile Arena, host to 40-plus cards yearly, can now switch to SeatGeek or StubHub for sales without full lock-in contracts. TKO’s live revenue hit records with WWE prices doubling since the 2023 merger, fueling talk of in-house platforms or rivals to capture more from 300+ annual shows, especially with Saudi expansions and European tours pushing secondary markets.
