Paramount, newly under Skydance leadership, has secured exclusive U.S. rights to the UFC for seven years starting in 2026 in a deal valued at $7.7 billion, averaging $1.1 billion per year. The package covers all 13 premium numbered cards and 30 Fight Nights annually. Every event will stream in the U.S. on Paramount+, with select cards simulcast on CBS. Paramount says there will be no extra pay-per-view fees for subscribers, ending the PPV model previously used for premium UFC events on ESPN+.
Payments are weighted over the term, with lower outlays in the early years and higher later. The agreement replaces Disney’s ESPN arrangement, which averaged about $500 million annually and runs through the end of 2025.
TKO Group, formed by the 2023 merger of UFC and WWE, has been active on multiple fronts. Days before this deal, TKO struck a five-year, $1.6 billion agreement with ESPN for WWE’s premium live events. TKO initially explored selling UFC’s 30 Fight Nights separately from the numbered pay-per-views, but after Paramount’s sale of control to Skydance closed, both sides moved quickly and finalized the full-rights deal within 48 hours.
Paramount’s new CEO David Ellison prioritized the complete UFC package, citing a tight sports-rights market over the next several years. With major properties such as Formula 1 believed to be aligned elsewhere and Major League Baseball’s next big cycle not until 2028, UFC’s consistency and scale stood out. UFC delivers 43 live events and roughly 350 hours of live programming annually, a year-round cadence that streamers value for reducing seasonal subscriber churn. The deal also gives Paramount a path to expand globally: the company said it is interested in UFC’s international rights, which renew on a rolling basis with about one-third up each year. Paramount will have a 30-day exclusive window to negotiate in each market as rights come due. UFC is currently available in more than 210 countries.
For fans, the shift is straightforward: starting in 2026, a single Paramount+ subscription will include the entire U.S. UFC slate—numbered cards and Fight Nights—without separate PPV charges, and some events will reach broader audiences via CBS. The announcement comes as UFC continues to expand its global footprint with high-profile cards around the world, including recent events in the Middle East.
Additional context and analysis:
– Consumer impact: Eliminating PPV fees simplifies access and could lower the all-in cost for frequent viewers, while CBS simulcasts should boost mainstream exposure for fighters and events.
– Strategy fit: UFC’s year-round schedule can help Paramount+ stabilize monthly subscriptions and deepen engagement between tentpole entertainment releases. The back-loaded payments align with building the subscriber base over time.
– Competitive landscape: Paramount’s move reshapes the sports streaming map and reduces ESPN’s UFC portfolio after 2025, even as ESPN deepens ties to WWE. It underscores a broader industry pivot from pay-per-view to subscription-first models.
– Execution watchpoints: Paramount will need robust streaming reliability for live combat sports, effective cross-promotion across CBS and Paramount+, and a smooth handoff from ESPN at the end of 2025.
Summary:
Paramount has acquired exclusive U.S. rights to the full UFC slate from 2026–2032 for $7.7 billion. All events will stream on Paramount+ with select simulcasts on CBS, ending PPV charges for U.S. viewers. The deal was finalized rapidly after Skydance took control of Paramount and positions UFC as a cornerstone of Paramount’s sports strategy amid a tight rights market. Paramount also gains a first-look window as UFC international rights roll to market, signaling ambitions to pair U.S. and global distribution.