01—Abstract
Summary
Summary of the 8-K filed August 11, 2025. Cited figures are marked; the original filing is the authoritative source.
On August 11, 2025, TKO Group Holdings, Inc. announced a new seven-year media rights agreement with Paramount, a Skydance Corporation, under which Paramount becomes the exclusive home of all UFC events in the U.S. beginning in 2026.
The agreement has an average annual value (AAV) of $1.1 billiona. UFC's full slate of 13 marquee numbered events and 30 Fight Nights will be distributed via Paramount's direct-to-consumer streaming platform, Paramount+, with select numbered events simulcast on CBS. As part of the deal, UFC and Paramount will move away from the existing Pay-Per-View model, making these premium events available at no additional cost to Paramount+ subscribers in the U.S. The payment schedule is weighted more toward the back end of the deal.
TKO expects revenue recognition to be consistent with its other large media rights contracts and in line with the sports media rights industry standard of being similar each year with single digit percent annual escalators. Management characterized the agreement as a milestone for UFC and an important realization of TKO's strategy, stating it provides meaningful economics for investors and expanded premium inventory for brand partners. Paramount intends to explore UFC rights outside the U.S. as they become available in the future.
02—Key points
Key Highlights
- Seven-year U.S. media rights agreement with Paramount, beginning in 2026, with an average annual value (AAV) of $1.1 billion.
- Paramount becomes the exclusive U.S. home of all UFC events, including 13 marquee numbered events and 30 Fight Nights annually.
- Full slate of events streams on Paramount+, with select numbered events simulcast on CBS.
- UFC moves away from its Pay-Per-View model; premium events become available at no additional cost to Paramount+ subscribers.
- Payment schedule is weighted more toward the back end of the deal.
- TKO expects revenue recognition consistent with its other large media rights contracts, with single digit percent annual escalators per the sports media rights industry standard.
- Paramount intends to explore UFC rights outside the U.S. as they become available.
03—Questions
Frequently Asked Questions
What is the value and term of the new UFC media rights agreement?
The agreement is a seven-year term beginning in 2026 with an average annual value (AAV) of $1.1 billion.
How will UFC events be distributed under the new deal?
Paramount will exclusively distribute UFC's full slate of 13 marquee numbered events and 30 Fight Nights via Paramount+, with select numbered events simulcast on CBS.
Will fans have to pay extra to watch UFC events under the new agreement?
No. UFC and Paramount will move away from the Pay-Per-View model, making the premium events available at no additional cost to the U.S. Paramount+ subscriber base.
How will payments be structured over the life of the deal?
The payment schedule is weighted more toward the back end of the deal.
How does TKO expect to recognize revenue from this agreement?
TKO expects revenue recognition to be consistent with its other large media rights contracts and in line with the sports media rights industry standard of being similar each year with single digit percent annual escalators.
04—Continue