On the back of a $1.3bn valuation, ONE Championship is set to hit profitability in 2024.
Forbes recently listed the organisaiton at the fourth most valuable sports promotion in the world, and now CEO Chatri Sityodtong has confirmed they are on target to reach profitability in the second half of this year.
Mr Sityodtong said revenues are set to increase by 50% year-on-year, and this alongside ‘good cost optimisation’ is yielding results.
ONE Championship launched in 2011 but for a long period had been seen as a promotion for the Far East. However, regular international shows, and a TV audience which spans 195 countries worldwide has made it a household name among fight fans.
2023 was the promotions busiest to date with more than 60 live shows including the ever-popular ONE Friday Fights, and the Fight Night series geared more towards a US audience.
This year we have seen ONE’s return to live shows in the MENA region with ONE 166: Qatar in March which was a sellout success. This, combined with a regional TV deal with BeIn Sports and an ever growing list of fighters from the region has dramatically increased its footprint in both the Middle East and North Africa.
“After more than 12 years of investing in our global brand, a worldwide platform, a live content and distribution engine, our global fandom, and our world championship athlete roster, my team and I are thrilled that ONE has entered a new phase of profitable growth,” said Mr Sityodtong.
“In 2024, ONE continues to set record highs in viewership metrics with 60 live events, underpinning the sharp increase in revenues from multiple countries,” he added.
On the company valuation, Mr Sidyodtong was even more bullish – seeing even greater numbers based on recent success.
“I know that Forbes Magazine estimated a valuation of US$1.3 billion to ONE a few weeks ago, but I believe that ONE is worth more than what Forbes estimates,’ he said.
‘Our last round with investors was done at US$1.4 billion in 2021. Since 2021, ONE has grown exponentially in popularity metrics, driving significant revenue growth for ONE.’
