Endeavor Group Holdings, Inc. (NYSE:EDR) Q4 2023 Earnings Call Transcript

Related to our events experience and right segment, we remain focused on executing on our investment in on location of the IOC initiative. We also believe the favorable location of matchup from the recent Super Bowl in Las Vegas will benefit results for on location. We expect continued growth from our own events such as Barrett-Jackson, the Miami Open, Madrid Ppen as well as from our frieze events and Hyde Park Winter Wonderland. At IMG’s media business, we’re focused on deepening client relationships within our right portfolio and expanding sports production globally as the world’s leading integrated solution for sports right holders and federations. Within our representation segment, we expect growth in our agency business, driven by the continued post-strike recovery of the TV and film industry as well as in our sports and music divisions.

We also expect continued growth at 160over90 as brands seek unique ways to be culturally relevant. As one example, with the Summer Olympic games ahead, momentum is beginning to pick up across brand partnerships and experiential activations in the U.S. and EMEA. For sports data and technology, we are focused on optimizing our products and services and driving operating efficiencies as the market for betting data and streaming rights remains competitive. Our offerings in this space are diversified and well positioned to capitalize on global growth trends, especially around regulation and regulating markets. This is evidenced by OpenBet’s expansion into responsible gaming solutions through its acquisition of Neccton. In the U.S., 37 states in D.C. now have legal and operational sports betting.

And according to the American Gaming Association, nationwide sports betting revenue grew by 44% year-over-year in 2023. Looking across the U.S. and internationally, we’re confident we have the right asset combination to provide value-added solutions to our customers. As one example, Brazil’s regulatory environment is rapidly advancing, and we are well positioned as this market opens. Overall, we remain focused on executing our strategy and maintaining momentum through the year. With that, this concludes our fourth quarter and full year 2023 earnings call. Thank you.

Operator:

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