Paramount's Strategic Leap: Secures UFC Broadcast Rights in Historic $7.7 Billion Deal
Source: news.source.channelnewsasia
Paramount has clinched a monumental $7.7 billion deal to secure exclusive U.S. broadcast rights for the UFC for the next seven years, marking a significant strategic move post its merger with Skydance. This acquisition, announced by Paramount CEO David Ellison, aims to bolster Paramount's content offerings with UFC's high-profile events, shifting from pay-per-view to a subscription model on Paramount+. The deal is seen as a pivotal step in Paramount's long-term strategy to dominate the media landscape through high-quality exclusive content.
Key Points
Paramount secured exclusive U.S. broadcast rights for UFC in a $7.7 billion deal spanning seven years.
The deal follows Paramount's recent merger with Skydance, marking a significant strategic move.
UFC events will be available on Paramount+ and simulcast on CBS, moving away from the traditional pay-per-view model.
Paramount CEO David Ellison emphasized the strategic importance of adding UFC to enhance subscriber growth through high-quality content.
The agreement reflects a broader trend in the media industry towards securing live sports content amidst cord-cutting.
Competitors like Netflix and Disney have also invested heavily in sports content, indicating the sector's importance for viewer engagement.
