It takes dedication to turn a profit in the combat sports world, but by the end of the year, ONE Championship will have done just that.
ONE Chairman and CEO Chatri Sityodtong recently revealed in an interview with South China Morning Post that the global martial arts organization is on schedule to reach profitability in 2024 after a series of revenue-enhancing moves.
These strong business plays even caught the attention of America's premiere business source, Forbes magazine, which approximated ONE to be worth over US$1 billion.
"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," Chatri said.
"Our last round with investors was done at $1.4 billion in 2021. Since 2021, ONE has grown exponentially in popularity metrics, driving significant revenue growth for ONE."
Part of ONE's recent success has been the partnerships in which it has secured with some of the world's largest broadcasters, such as Amazon Prime in the United States and Sky Sports in the United Kingdom, launching its viewership to new heights.
ONE Championship also dominates the Thai market with its weekly events at Lumpinee Boxing Stadium that air live on Ch7HD to millions of households in Thailand.
Chatri broke down the recent success that ONE has enjoyed in his homeland and abroad.
"ONE's popularity in Thailand is unprecedented for any content genre in the Thai media industry. According to Nielsen, ONE has consistently been the most-watched program of any kind, every week in Thailand, ever since the launch of [ONE Lumpinee] at Lumpinee Stadium," he said.
"According to Nielsen, ONE ranks among the top 10 most-watched sports properties in the world for both TV and online viewership. In 2024, ONE continues to set new record highs in viewership metrics with 60 live events, underpinning the sharp increase in revenues from multiple countries."
With an ever-expanding global fan base on its side, ONE's revenue has also risen sharply as compared to last year. And Chatri believes that the organization which features mixed martial arts, Muay Thai, kickboxing, and submission grappling will experience a record-setting end to 2024.
"Through a combination of strong revenue growth and good cost optimization, ONE will achieve profitability and positive cash flow in Q3 or Q4 of this year. Our run rate revenues will approach $200 million this year, representing a 50 percent increase versus 2023," he said.
"After 12-plus 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. We look forward to continuing to delight, excite, and inspire our fans around the world."
