TKO President Mark Shapiro Declares The Pay-Per-View Model A ‘Thing Of The Past’

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TKO President and COO Mark Shapiro has declared the pay-per-view model “outdated” and a “thing of the past.” His comments come on the heels of a new seven-year media rights agreement that will see the UFC move all of its premium events to the Paramount+ streaming service.

In a new interview with CNBC, Shapiro explained the company’s strategy of moving away from the traditional pay-per-view model in favor of a subscription-based streaming service for its biggest events.

“The pay-per-view model is a thing of the past. What’s on pay-per-view anymore? Boxing? Movies on DirecTV? It’s an outdated, antiquated model,” Shapiro said. “So, it was paramount to us – forgive the pun – where it’s one-stop shopping, especially for our younger fans in flyover states. When they find out, ‘Wait, if I just sign up for Paramount+ for $12.99 a month, I’m going to automatically get UFC’s numbered fights and the rest of the portfolio?’ That’s a message we want to amplify.”

The new agreement between TKO’s UFC and Paramount will begin in 2026. It will see all UFC numbered events and Fight Nights stream live on Paramount+ at no additional cost for subscribers in the United States, with select marquee fights also being simulcast on CBS.

This move follows a similar landmark deal for TKO’s other major property, WWE. It was recently announced that all of WWE’s Premium Live Events, including WrestleMania and SummerSlam, will be moving exclusively to ESPN’s new direct-to-consumer streaming platform in the U.S., also beginning in 2026.

Shapiro’s comments and the new deals for both UFC and WWE signal a complete shift in TKO’s distribution strategy, moving away from the pay-per-view model that defined both combat sports and professional wrestling for decades. By placing their premium content on major streaming services like Paramount+ and ESPN, TKO is betting on the subscription model to grow its audience and secure massive, guaranteed revenue for years to come. The full interview with Mark Shapiro can be seen on CNBC.