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UFC Broadcast Rights a Done Deal? Not So Fast — Netflix Co-CEO Casts Doubt With Streaming Strategy Reveal

As the UFC inches closer to the end of its broadcast rights deal with ESPN, speculation swirls about its next move. One major question has been whether Netflix might jump into the octagon with a deal similar to the one it struck with WWE. However, recent comments from Netflix co-CEO Ted Sarandos suggest that might not be in the cards.

Ted Sarandos Emphasizes One-Off Events Over Full Sports Packages

During a recent investors’ call, Sarandos avoided directly addressing UFC or any specific sports rights, but he reiterated Netflix’s current strategy: prioritizing one-off live events over full-season sports deals.

“We remain really focused on the big, breakthrough events,” Sarandos said. “So anything we chase in the event space or the sports space is a deal that would have to make economic sense as well. Live is a relatively small part of our content spend. We have about 200 billion view hours, so small relative to view hours, too.”

“But that said, all viewing is not equal. What we have seen with live is this very outsized positives around conversation and acquisition, and we suspect retention. We’re really excited to keep building on that.”

This approach has already paid off for Netflix. The Mike Tyson vs. Jake Paul boxing match drew over 235 million watch hours, beating out NFL games aired on Christmas. Similarly, the Tom Brady roast, which featured UFC CEO Dana White, generated massive buzz.

Netflix’s next big live outing is the Katie Taylor vs. Amanda Serrano boxing rematch in July, which follows their record-breaking first encounter. Sarandos highlighted this as the type of content Netflix wants to continue investing in, rather than season-long commitments that don’t align with their audience retention strategy.

“We have the Taylor-Serrano fight in July. It was the most watched women’s sporting event in U.S. history,” the Netflix co-CEO said. “So there’s a lot of excitement on that. The NFL, of course, is a great property. We’re happy to have the Christmas Day games that we opted into the second NFL game for Christmas Day, so we’ll be presenting all-day football again on Dec. 25, 2025. Really exciting.”

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Still, with over 40 events annually, UFC presents a unique opportunity. Unlike traditional leagues with off-seasons, the UFC’s continuous calendar could theoretically align better with Netflix’s viewership goals.

Dana White Discusses the UFC’s ESPN Deal Ending

The UFC’s exclusive negotiation window with ESPN has ended, and the promotion is now free to begin discussions with other networks for a new deal starting in 2026. White, the UFC CEO, has hinted that the company might explore a variety of options, including spreading its events across multiple platforms.

“We’ve said this every time: There could be a time when we end up on several different networks like all other sports do,” White said.

Speaking further, White also expressed a positive view of his time working with ESPN, despite early challenges in their partnership. However, the UFC honcho acknowledged that the future of UFC’s media rights might look different depending on what networks offer.

With Netflix showing a preference for one-off events and the UFC exploring multiple broadcasting options, the future of the UFC’s media rights is anything but certain.