Combat Sports Overcome Boxing: MMA and WWE Outpace Revenue, Fueling Growth

The popularity of combat sports has seen a tremendous rise, with MMA and professional wrestling now outpacing boxing in terms of revenue. According to Forbes, the UFC leads the way with a valuation of $11.3 billion, followed by WWE at $6.8 billion and AEW at $2 billion.

The recent UFC event, UFC 300, generated a $16.5 million gate, marking the third-highest-grossing event in company history. The UFC’s $11.3 billion valuation is a testament to its monumental growth since its purchase by the Fertitta brothers for just $2 million in 2001. The sale of the UFC to Endeavor in 2016 for $4 billion resulted in an annual return of 72 percent for each year of ownership by the Fertittas.

In September 2023, the UFC and WWE merged to form TKO Holdings, becoming the highest-grossing companies in terms of media rights revenue ($800 million each). Despite this merger, boxing promotion Matchroom Boxing remains the top-valued boxing promotions at $850 million, followed by Top Rank Boxing ($630 million), Premier Boxing Championship ($600 million), and Golden Boy Promotions ($450 million).

While MMA generates more revenue than these boxing promotions, there is still a significant pay gap for fighters. MMA fighters did not make it onto Forbes’ 2023 list of highest-paid athletes, while boxers such as Canelo Alvarez and Anthony Joshua did. However, a recent settlement requiring the UFC to pay $335 million to former fighters alleging pay restrictions could help address this issue in the future.