Paramount's $7.7 Billion UFC Deal: Free Streaming For Subscribers By 2026

Paramount Skydance (NASDAQ:PSKY) and TKO Group Holdings (NYSE:TKO) announced on Monday that they had signed a seven-year, $1.1 billion per year deal.

The deal will make Paramount the exclusive U.S. home for all Ultimate Fighting Championship (UFC) events starting in 2026.

The agreement marks a significant shift in UFC’s U.S. distribution strategy.

It replaces the pay-per-view model with direct-to-consumer streaming on Paramount+, where all 13 marquee-numbered events and 30 Fight Nights will be available at no extra cost to subscribers.

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Select numbered events will also air on CBS, boosting reach through Paramount’s top broadcast network.

The move comes as streaming platforms increasingly compete for premium live sports to drive subscriber growth and retention.

UFC offers Paramount a year-round, highly engaged audience with a U.S. fanbase of about 100 million and a global reach of nearly 950 million households in over 210 countries.

For TKO, the deal delivers long-term revenue visibility, expanded inventory for advertisers, and a larger stage for its athletes, while positioning UFC as a cornerstone property in the evolving sports media rights landscape.

In July, the Federal Communications Commission approved Paramount Global’s $8 billion merger with Skydance Media, clearing the way for the deal after over a year of review.

The merger, first announced over a year ago, positions Skydance to take control of Paramount’s vast media assets, including CBS, amid calls for greater trust and balance in national news coverage.

Price Actions: PSKY stock is down 0.52% at $10.46 at last check Monday. TKO is up 7.43%.

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