UFC, CBS, Paramount Reveal Historic Contract to Provide Fans All Content Without PPV

TKO Group Holdings announced Monday it signed a UFC media rights deal with Paramount to stream events on Paramount+ with select broadcasts on CBS.

UFC president Dana White called this a "historic deal" and "incredible for UFC fans and our athletes." He also confirmed the company is moving away from the pay-per-view model it has used since its inception:

CNBC's Alex Sherman reported Paramount is paying $7.7 billion over seven years, which is a large jump from the deal UFC originally signed with ESPN in 2018. That was worth $1.5 billion over five years, with the two sides reaching an extension in 2019.

TKO Group president Mark Shapiro told Sherman he thought it was important to pivot away from PPVs, calling them "an outdated, antiquated model."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," Shapiro said. "When they find out, 'Wait, if I just sign up for Paramount+ for $12.99 a month, I'm going to automatically get UFC's numbered fights and the rest of the portfolio? That's a message we want to amplify."

According to Sherman, TKO initially looked to sell the rights for UFC's Fight Night shows with an eye toward spinning out the marquee events off in a separate agreement. Instead, Paramount came up with a figure that secured an all-encompassing package.

While the UFC's partnership with ESPN is drawing to a close, TKO's other major property will soon be filling the void. WWE struck a five-year deal with the network reportedly worth more than $1.6 billion to stream its premium live events such as the Royal Rumble and WrestleMania.