Paramount acquires UFC streaming rights in a whopping $7.7 billion deal
As part of the $7.7 billion agreement, Paramount will be paying an average of $1.1 billion per year to show the full slate of 13 marquee events of UFC and 30 'Fight Nights.'
Also read: David Letterman blasts CBS and Paramount for canceling The Late Show with Stephen Colbert: 'Pure cowardice'
Paramount-UFC deal
Under this, UFC fans will get to witness all the fights and events on the Paramount+ streaming app, while select marquee matches will also get broadcast on CBS, which is owned by Paramount.
According to CNBC, Paramount will spend less than $1.1 billion for the first few years and higher values later.
The company stated that no additional fees would be charged from subscribers to gain access to the UFC events. This puts an end to the pay-per-view model, which was utilized by ESPN+ for streaming specific premium UFC events.
Earlier, ESPN paid $500 million on average for five years. Its deal with UFC is set to expire at the end of this year.
As of now, viewers face hurdles under the ESPN and UFC deal, since the marquee fights remain available on the ESPN+ streaming app, which charges $12 a month. On top of that, people have to give a pay-per-view fee, effectively forcing them to navigate through a double paywall.
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Mark Shapiro, TKO Group's president and chief operating officer, has dubbed the pay-per-view model a "thing of the past.'
"What's on pay-per-view anymore? Boxing? Movies on DirecTV? It's an outdated, antiquated model. So, it was paramount to us – forgive the pun – where it's one-stop shopping, especially for our younger fans in flyover states," CNBC quoted Shapiro as saying.
Once the new deal gets underway, viewers will have to get a subscription to Paramount+, which is available for $13 a month without ads and $8 a month with it. Apart from this, they do not have to pay any additional fees to access the fights.
This comes days after Paramount gave control of the company to Skydance Media, marking its new leadership under Chief Executive Officer David Ellison.
Last week, TKO also signed a five-year, $1.6 billion deal with ESPN to gain rights for WWE's premium live events across the US.
FAQs:
What's the new deal between Paramount and UFC?
Paramount has inked a seven-year, $7.7 billion deal to air UFC fights in the US.
How to subscribe to Paramount?
To gain access to Paramount+, viewers have to pay either $13 a month without ads or $8 a month with it.
When does the deal between UFC and ESPN expire?
The agreement will end later this year.
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