Paramount pins down UFC rights in seven-year deal with TKO worth $7.7bn
The rights to UFC in the US were previously held by Disney’s ESPN
Lee Brimelow via CC
Paramount has inked a massive seven-year, US$7.7bn deal for the US rights to the Ultimate Fighting Championship (UFC), in a major statement of intent from the studio under new boss David Ellison.
Under the groundbreaking deal, which Paramount struck with UFC’s parent company TKO, the mixed martial arts promotion will move away from the pay-per-view (PPV) model, which has been a foundational part of its business since it launched in the 1990s.
Paramount+ will be the US home to all numbered UFC events, including all of its PPVs and around 30 Fight Night events annually, starting in 2026. There will be no additional cost for Paramount+ subscribers. Select numbered events will also be simulcast on American broadcaster CBS.
TKO said the change in distribution strategy will “unlock greater accessibility and discoverability for sports fans and provide an important catalyst for driving engagement and further subscriber growth for Paramount+.”
The deal is worth US$1.1bn annually over the course of seven years, with the companies noting that the contract’s payment schedule is weighted more toward the back end of the deal. In addition, Paramount said it plans to go after UFC rights outside the US as and when they become available.
In the US, the UFC was previously under a deal with Disney’s ESPN, which helped take the sport of MMA to a new level after it had been under an exclusive deal with Fox. However, in both of those previous deals, the UFC still retained its PPV model, with monthly events priced at around US$80 in the US.
The deal is surprising from several perspectives, not least because Paramount was not widely considered as a legitimate contender to land the UFC rights. Rather, it appeared more likely that the UFC would renew with Disney and ESPN, or do a deal with a streamer such as Netflix or Amazon. In hindsight, there were clues, as Ellison has been present at a couple of UFC events in recent months, sat with both UFC CEO and president Dana White and US president Donald Trump.
Partnering with the UFC and TKO in this way represents a major statement of intent from Ellison as he takes the reins of the Hollywood studio after merging it with his company Skydance in an US$8bn deal.
“Rarely do opportunities arise to partner on an exclusive basis with a global sports powerhouse like UFC – an organisation with extraordinary global recognition, scale and cultural impact,” said Ellison, who serves as chairman and CEO of Paramount.
“Paramount’s advantage lies in the expansive reach of our linear and streaming platforms. Live sports continue to be a cornerstone of our broader strategy – driving engagement, subscriber growth and long-term loyalty, and the addition of UFC’s year-round must-watch events to our platforms is a major win. We look forward to delivering this premium content to millions of fans in the US, and potentially beyond.”
TKO executive chair and CEO Ari Emanuel called the partnership a “milestone moment and landmark deal for UFC, solidifying its position as a preeminent global sports asset.”
He added: “Our decade-long journey with UFC has been defined by continuous growth and expansion, and this agreement is an important realisation of our strategy. We believe wholeheartedly in David’s vision and look forward to being in business with a company that will prioritise technology as a means to enhance storytelling and the overall viewing experience.”
