TKO executive Mark Shapiro is pushing back against criticism of recent UFC event quality, insisting the promotion’s business and product are as strong as ever.
Shapiro said UFC business is “booming” as the company shifts away from the traditional pay-per-view model to a subscription-only setup with Paramount+ in the U.S., Latin America, and Australia. While some observers feel the UFC has become less invested in event quality, particularly at the Meta APEX in Las Vegas, Shapiro rejected that idea. “Look, bottom line is we don't buy it,” he said.
“Let's just start with this premise, right? The product is great at the UFC, the brand has never been stronger, our reach has never been greater, so the foundational elements of UFC are in concrete,” Shapiro said, pointing to a recent numbered event in Miami, UFC 327, and a sold-out fight night in Perth, Australia. “Look, we are always building at the UFC. We're in the building phase at all times.”
Shapiro highlighted a wave of emerging names as proof of that ongoing build. “We find the best up-and-coming talent around the world, and we match them continually in the best fights,” he said, singling out Joshua Van, Brazilian Carlos Prates, undefeated Michael Morales, and Ilia Topuria as part of “the next generation.”
According to TKO’s 2026 first quarter results, the UFC generated $401.2 million in revenue, compared to $475.7 million from WWE.
