Paramount+ Secures Exclusive UFC Rights in $7.7 Billion Deal

Skydance makes big moves following the merger, as Paramount and TKO Group Holdings have announced a seven-year agreement making Paramount the exclusive home of UFC in the United States starting in 2026.

The deal covers all 13 annual numbered events and 30 Fight Nights, which will stream live on Paramount+. Select major cards will also air on CBS.

End of UFC Pay-Per-View in the U.S.

The agreement replaces UFC’s current Pay-Per-View model with direct-to-consumer streaming via Disney’s ESPN+. While ESPN loses the UFC, it was just announced TKO’s WWE premium events, including WrestleMania, will stream on ESPN.

Paramount+ subscribers in the U.S. will be able to watch UFC’s biggest events at no additional cost. The move is aimed at increasing accessibility, growing the subscriber base, and expanding UFC’s reach. Paramount may also pursue UFC rights in other territories when available.

Executive Comments

David Ellison, Chairman and CEO of Paramount, called UFC “a global sports powerhouse” and said the deal adds year-round premium content to Paramount’s platforms.

“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,” said Ellison. “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.”

TKO CEO Ariel Emanuel said the agreement “solidifies UFC’s position as a preeminent global sports asset,” while TKO President Mark Shapiro noted it will provide “meaningful economics for investors” and more opportunities for brand partners.

“This is a milestone moment and landmark deal for UFC, solidifying its position as a preeminent global sports asset,” said Emanuel. “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.”

“Paramount is a platinum partner with significant reach,” said Shapiro. “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 President Dana White added, “This historic deal with Paramount and CBS is incredible for UFC fans and our athletes. For the first time ever, fans in the US will have access to all UFC content without a Pay-Per-View model, making it more affordable and accessible to view the greatest fights on a massive platform. This deal puts UFC amongst the biggest sports in the world. The exposure provided by the Paramount and CBS networks under this new structure is a huge win for our athletes and anyone who watches and loves this sport.”

Deal Value and Scope

The contract runs through 2032 with an average annual value of $1.1 billion, totaling about $7.7 billion.

Payments are weighted toward the later years of the deal. UFC events reach nearly 950 million broadcast and digital households globally, with a roster of around 600 fighters from 75 countries.