LOS ANGELES and NEW YORK—In a notable example of sports rights shifting to streaming, Paramount and TKO Group Holdings have struck a seven-year, $7.7 billion media rights agreement in which Paramount properties will become the exclusive U.S. home of all UFC events.
Starting in 2026, direct-to-consumer platform Paramount+ will become the exclusive streaming home of UFC's full slate of 13 marquee numbered events and 30 “Fight Nights,” with select numbered events to be simulcast on CBS.
The multibillion-dollar deal is the first major programming investment made by Paramount since the merger closed. It also marks a notable shift in the distribution strategy of TKO's UFC from cable and PPV to streaming. While UFC’s current agreement with ESPN had a major PPV element, the new deal will make its premium events available at no additional cost to U.S. Paramount+ subscriibers.
Paramount and TKO said this shift in distribution strategy should unlock greater accessibility and discoverability for sports fans and drive further engagement and subscriber growth for Paramount+.
Paramount also reported that it intends to explore UFC rights outside the U.S. as they become available in the future.
“I couldn't be more excited to join forces with Dana, Ari, and Mark. Rarely do opportunities arise to partner on an exclusive basis with a global sports powerhouse like UFC—an organization with extraordinary global recognition, scale, and cultural impact,’ Paramount Chairman and CEO David Ellison said. “Paramount’s advantage lies in the expansive reach of our linear and streaming platforms. 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. We look forward to delivering this premium content to millions of fans in the U.S., and potentially beyond."
“This is a milestone moment and landmark deal for UFC, solidifying its position as a preeminent global sports asset,” said Ariel Emanuel, executive chair and CEO, TKO. “Our decade-long journey with UFC has been defined by continuous growth and expansion, and this agreement is an important realization of our strategy. We believe wholeheartedly in David’s vision and look forward to being in business with a company that will prioritize technology as a means to enhance storytelling and the overall viewing experience.”
Said TKO President and Chief Operating Officer Mark Shapiro: “Paramount is a platinum partner with significant reach. Our new agreement unlocks powerful opportunities at TKO for years to come—meaningful economics for investors; expanded premium inventory for global brand partners; and deeper engagement for UFC's passionate fanbase. Just as importantly, our athletes will love this new stage.“
UFC events take place year-round, with approximately 43 live events delivering more than 350 hours of content.
According to TKO, UFC reaches a base of roughly 100 million highly engaged U.S. fans across linear, digital and social platforms, with a global reach of some 950 million broadcast and digital households in more than 210 countries and territories speaking 50 languages. It boasts a roster of about 600 of the world's best male and female mixed martial artists from 75 countries, the company said.
