Paramount lands $7.7 billion deal to stream all UFC events in the U.S. for 7 years

Fast Company

2 days ago

Paramount will become the new home to Ultimate Fighting Championship events across the U.S. next year, through a seven-year agreement announced with TKO Group on Monday.
The news comes just days after Skydance and Paramount officially closed their $8 billion merger — kicking off the reign of a new entertainment giant after a contentious endeavor to get the transaction over the finish line.
Under the deal with UFC, Paramount will exclusively distribute UFC's full lineup of its 13 marquee numbered events and 30 'Fight Nights' on its streaming platform Paramount+ — with select numbered events also set to simulcast on CBS — starting in 2026.
It's a shift away from the UFC's existing pay-per-view model, which Paramount and TKO say will allow the mixed martial arts programming to reach more consumers nationwide.
'Paramount's advantage lies in the expansive reach of our linear and streaming platforms,' David Ellison, chairman and CEO of Paramount, said in a statement. '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.'
Mark Shapiro, president and COO of TKO, added that the deal will mean 'deeper engagement for UFC's passionate fan base' and that its athletes 'will love this new stage.'
UFC events currently air on ESPN — which has offered tiered pricing for fans to view content across the sports network's TV offerings and streaming platform ESPN+ since 2019. UFC's partnership with Disney-owned ESPN runs through the end of 2025.
The seven-year deal between Paramount and TKO has an average annual value of $1.1 billion, the companies said Monday — marking a notable jump from the roughly $550 million that ESPN reportedly pays each year for UFC coverage today. But UFC's new home on Paramount will simplify offerings for fans — with all content set to be available on Paramount+ (which currently costs between $7.99 and $12.99 a month), rather than various pay-per-view fees.
Paramount also said it intends to explore UFC rights outside the U.S. 'as they become available in the future.'
While now a done deal, the path towards approval for the Paramount and Skydance merger was far from smooth sailing. Months of scrutiny and turmoil surrounded the transaction — particularly amid President Donald Trump's legal battle with '60 Minutes,' the crown jewel of Paramount-owned broadcast network CBS. With the specter of the Trump administration potentially blocking the hard-fought deal with Skydance, Paramount agreed to pay a $16 million settlement to the president in early July. The deal later received regulatory approval from the Trump administration.
Trump has long been friends with UFC CEO Dana White and routinely attends UFC events. Last month Trump said that he's thinking of staging a UFC match on the White House grounds with upwards of 20,000 spectators to celebrate 250 years of American independence.
Trump announced his plan in Iowa during the kickoff for a year's worth of festivities to celebrate America's 250th birthday on July 4, 2026.
White said in a post on social media platform X that the deal with Paramount will make it more affordable and accessible for U.S. consumers to watch UFC events.
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'This deal puts UFC amongst the biggest sports in the world,' he wrote. 'The exposure provided by the Paramount and CBS networks under this new structure is a huge win for our athletes and anyone who watches and loves this sport.'
Aside from the UFC, TKO also houses the WWE and has been actively working out deals for the sports entertainment company. Last week Disney announced an agreement with WWE that will see its premium live events, like WrestleMania , streamed by ESPN.
Disney subsidiary ESPN struck a rights agreement with TKO Group's WWE to become the exclusive U.S. domestic streamer of the sports entertainment company's premium live events starting next year. Aside from gaining access to WrestleMania, ESPN will also air marquee events such as the Royal Rumble, SummerSlam and Survivor Series.
The wrestling events will be available on ESPN's new streaming service, which is set to launch next month, with select ESPN cable channels also airing them.
Financial terms of the agreement were not disclosed, but The Wall Street Journal said that it's a five-year deal worth more than $1.6 billion.
Shares of TKO jumped over 7% in midday trading on Monday.
—Wyatte Grantham-Philips and Michelle Chapman, AP business writers