The popularity of combat sports has skyrocketed in recent years, with MMA and professional wrestling now generating more revenue than boxing. According to Forbes, the UFC is leading the charge with a valuation of $11.3 billion, followed by WWE at $6.8 billion and AEW at $2 billion.
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, boxing promotion Matchroom Boxing leads 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).
Despite surpassing these boxing promotions in revenue, there is still a significant pay gap for fighters. MMA fighters did not make it to 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.
