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Tuesday, July 16, 2024

Chatri: ONE Championship nearing profitability

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After breaching the billion-dollar valuation mark earlier this year, ONE Championship is set to pass another major landmark in its 12-year run.

The promotion is set to be profitable by the end of the year, a huge benchmark for the company that started in 2011 and that has created a combat sports renaissance throughout Asia.

Earlier this year, Forbes Magazine listed ONE as the fourth-most valuable combat sports organization on the globe at US$1.3 billion, stating that ONE is “one of the fastest growing combat sports promotions in the world.”

“Through a combination of strong revenue growth and good cost optimisation, ONE will achieve profitability and positive cash flow in the third or fourth quarter of this year,” ONE Chairman and CEO Chatri Sityodtong said.

“Our run rate revenues will approach US$200 million this year, representing a 50 percent increase from 2023.”

The expected record-high revenues stem from the aggressive moves that ONE has made over the last few years. It also has a stronghold on the Thai market, where it has been holding the weekly ONE Friday Fights series inside Lumpinee Boxing Stadium.

This year, the promotion also marked its return to Japan and the Middle East, with ONE’s maiden show in Qatar turning out to be a success.

ONE also has two shows lined up for the United States this September and November, making this the busiest year for the company.

“In 2024, ONE continues to set record highs in viewership metrics with 60 live events, underpinning the sharp increase in revenues from multiple countries,” Sityodtong added.

“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.”

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