Paramount has secured a groundbreaking $7.7 billion agreement to become the exclusive U.S. broadcaster of the Ultimate Fighting Championship[UFC], marking the largest deal under new CEO David Ellison’s leadership. The seven-year contract, beginning in 2026, will see Paramount stream all 13 of UFC’s marquee numbered events and 30 Fight Nights each year on Paramount+, with select bouts also airing on CBS.
The agreement averages $1.1 billion annually, with payments weighted toward higher values in later years. Crucially, the deal ends UFC’s long-standing U.S. pay-per-view model, making premium fights available at no extra cost to Paramount+ subscribers.
“UFC is a unicorn asset that comes up about once a decade,” Ellison said. “With UFC, we now have a strong year-round sports offering alongside the NFL, UEFA, the Masters, and March Madness. Eliminating the paywall will create an amazing experience for fans.”
Ellison, who took the helm following Skydance’s takeover of Paramount, said live sports are central to boosting engagement–with Taylor vs Serrano 3 breaking netflix streaming records— and subscriber retention across the company’s broadcast and streaming platforms. He also confirmed Paramount’s right to produce original UFC-based content with UFC approval, similar to how Netflix developed F1: The Movie.
TKO Group Holdings, UFC’s parent company, chose Paramount after a highly competitive bidding process. “We believe wholeheartedly in David’s vision,” said Ari Emanuel, TKO’s executive chair and CEO. “This is a company that will prioritize technology to enhance storytelling and the viewing experience.”
Mark Shapiro, TKO’s president and COO, stressed the importance of accessibility: “The pay-per-view model is outdated. When fans realize they can get UFC’s numbered fights and full portfolio for $12.99 a month on Paramount+, that’s the message we want to amplify.”
UFC currently hosts 43 live events annually, generating more than 350 hours of live content broadcast in over 210 countries. With around 600 fighters from 75 nations, its fan base in the U.S. alone has grown by 25% since 2019 — growth achieved despite being locked behind ESPN’s double paywall.
Paramount’s deal comes amid a surge in sports media rights acquisitions. Just days earlier, TKO finalized a $1.6 billion deal with Disney’s ESPN for WWE’s premium live events. Shapiro revealed that negotiations for the UFC agreement were completed within 48 hours of Skydance’s acquisition closing, with Paramount opting to buy the full package rather than splitting Fight Nights and premium events between different partners.
Looking ahead, Paramount also intends to pursue UFC’s international broadcast rights, which become available on a rolling basis. The company will have a 30-day exclusive negotiation window when each market’s rights come up for renewal.
With Paramount signing of UFC now official, the move not only reshapes the MMA broadcasting landscape but also positions Paramount+ as a powerhouse in the sports streaming arena, offering fight fans access to the Octagon without the pay-per-view price tag.
