UFC and WWE are exclusive, live, and loved. That scarcity is what TV and streaming giants pay up for.
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✦ The bottom line
A moat is something rivals can't copy. TKO's is exclusive live content: there's one UFC, and live sports is the rare thing people won't skip.
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✦ Teach me
Pricing power
The ability to charge more without losing customers. Because UFC and WWE are one-of-a-kind and live, streamers and networks compete to carry them — which lets TKO push media-rights fees higher each cycle.
Wall Street calls this
Pricing power
Scarce live content is the most valuable thing in a fragmenting media world.
From the 10-K · the rights keep selling up
In October 2025, UFC expanded its partnership with Paramount, securing UFC media rights for Paramount+ across Latin America and Australia starting in 2026.
↳ Translated: the content is in demand — distributors keep paying for more of it.
Source · 10-K · Business — Recent Developments · FY2025 · Filed Feb 25, 2026
As streamers fight for viewers, live sports is the prize that keeps people subscribing. That tug-of-war pushes UFC and WWE rights prices up over time.
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Scarce and live
Exclusive, can't-wait-for-later content in a world starved of it. A genuinely strong moat.