UFC ends 30-year pay-per-view era in $7.7B deal with Paramount, all events moving to Paramount+
Aug 7, 2025
Key Points
- UFC signs $7.7 billion deal with Paramount to move all events to Paramount+ starting 2026, ending the sport's 30-year pay-per-view model.
- The agreement came together in 48 hours after Skydance Media's acquisition of Paramount, surprising even UFC leadership with its scope beyond lower-tier Fight Night programming.
- Streaming removes friction that decimated PPV revenue: international audiences refused $100-per-card premiums, illegal streams proliferated, and mobile purchase friction deterred casual viewers.
Summary
UFC has signed a $7.7 billion broadcast rights deal with Paramount that ends the sport's 30-year pay-per-view era. Beginning in 2026, all UFC events will stream on Paramount+ with select events also airing on CBS.
The deal came together in just 48 hours after Skydance Media completed its acquisition of Paramount control last week. TKO president and CEO Mark Shapiro initially expected to negotiate only UFC Fight Night events, the lower-tier ad-supported programming that has traditionally aired on ESPN. The speed of Skydance's takeover and the appetite of Paramount's new ownership made a comprehensive rights package possible. UFC CEO Dana White told the Pat McAfee Show he did not expect the agreement to happen this quickly.
Why the shift matters
The pay-per-view model has been in structural decline for UFC. The sport's biggest American stars are increasingly international fighters, and international audiences do not buy $100-per-card PPVs. A Brazilian fan will not pay that premium to watch a single event. Illegal streaming has compounded the problem, eating into legitimate PPV revenue. White has publicly complained about piracy, though the publicity around illegal streams arguably amplifies awareness of where fans can watch for free.
The friction of purchasing UFC PPVs has also worked against the model. Buying a UFC card typically requires a traditional television setup or navigating the ESPN app, and Apple takes a 30% cut on mobile transactions. That friction, combined with the rise of zero-friction entertainment on Instagram Reels, TikTok, and YouTube, has made the PPV transaction harder to justify for casual viewers.
The Paramount deal removes that barrier entirely. A Paramount+ subscription, whether bundled or standalone, grants access to all UFC events, eliminating the per-event purchase friction and the legal and reputational costs of combating piracy.