Overview

• Shapiro said talks with Netflix were "pretty close" before the streamer held firm on taking only the numbered pay-per-views and not the roughly 30 Fight Night events.
• Netflix proposed putting UFC’s marquee cards behind its subscription paywall at no extra charge, but TKO insisted on bundling pay-per-views with Fight Nights rather than splitting rights.
• Paramount/CBS agreed to take the entire inventory and promote it across platforms, ending the traditional U.S. PPV model with events included for Paramount+ subscribers.
• The UFC-Paramount deal begins in 2026 with select events airing on CBS, following the conclusion of the promotion’s ESPN agreement.
• Shapiro noted Netflix’s WWE Raw commitment and focus on one-off spectacles shaped its stance, as the streamer continues hosting major boxing shows like Canelo–Crawford and a planned Jake Paul–Gervonta Davis event in November.