While most major sports media rights have been locked up for the foreseeable future, UFC is one of the few whose will be available in the coming months.
And depending on how the MMA giant’s new deal takes shape, it could result in a significant change when it comes to the company’s future on pay-per-view.
On Monday, TKO Group Holdings chief operating officer Mark Shapiro spoke at the Morgan Stanley Technology, Media & Telecom Conference, where UFC’s next media rights deal was unsurprisingly a hot topic of conversation. And when asked whether it makes sense for the company to still rely on a pay-per-view model in the current content climate, the former ESPN executive admitted that nothing is set in stone.
“Life has changed on the pay-per-view front,” Shapiro said. “Look, it works for us, but we are super flexible. Linear, broadcast, streaming, pay-per-view, not pay-per-view.”
Mark Shapiro at the Morgan Stanley Technology, Media & Telecom Conference is asked if it makes sense to continue to have a PPV model. pic.twitter.com/C2oELRh0Ir
— Jed I. Goodman © (@jedigoodman) March 3, 2025
Shapiro proceeded to point out that in addition to its current exclusive deal with ESPN, UFC still owns its own streaming service, Fight Pass. And while it’s been happy with its current setup, that also gives the company the flexibility to potentially host, lease and/or sell its own content, just as its sister company, WWE, has done since the launch of the WWE Network in 2014.
“We like having it to ourselves, we like the proprietary nature of it,” Shaprio said of Fight Pass. “But like you saw with the WWE Network years ago with Vince McMahon, if it makes sense to fold it in as a part of a deal, we’re open to that too.”
Ultimately, UFC is keeping all of its options open, whether that’s signing a deal similar to the one it currently has with ESPN, which exclusively sells pay-per-views through the ESPN+ app, selling its shows to a traditional streamer like Netflix or some sort of hybrid model. To that end, it’s worth noting that WWE’s recent rights deal included multilayered approach, with weekly content currently airing on broadcast (The CW), cable (USA Network) and streaming (Netflix), in addition to its monthly premium live events airing on Peacock domestically and Netflix globally.
With its current deal set to expire at the end of 2025, UFC’s negotiations should pick up in the coming months, especially once the exclusive negotiating window with ESPN expires in April. And while Shapiro isn’t one to typically tip his hand, he made it clear on Monday that TKO anticipates taking its rights to the open market.
“It’s early stages. We want to be a good partner. We want to listen to everyone. We want to be prudent. We want to be patient,” he said. “But we definitely want to explore so that we can bring our audience, our athletes, our fans and our shareholders a maximized deal.”
