ONE Championship is set for a breakthrough year, according to ONE Chairman and CEO Chatri Sityodtong.
As the promotion has continued to push forward with successful events, it is enjoying record financial gains. And profitability is in sight by the end of 2024.
“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,” Sityodtong said (h/t South China Morning Post).
“Our run rate revenues will approach US$200m this year, representing a 50 per cent increase from 2023.”
ONE will stage 60 events this calendar year. Following the difficulties that the combat sports industry during COVID, it is a testament to how much the brand has grown, and the dedication it has put on showcasing martial arts around the world.
The schedule includes a return to the U.S. in the fall with two events that are expected to be stacked with superstars, and Sityodtong believes the organization’s expansion plays a large role its success.
“In 2024, ONE continues to set record highs in viewership metrics with 60 live events, underpinning the sharp increase in revenues from multiple countries,” he remarked.
ONE Friday Fights has also played a major part in ONE’s growth. The weekly event series from Lumpinee Boxing Stadium in Bangkok, Thailand, has been nothing short of thrilling.
It was awarded “Best Sports Program” at the 15th annual Nataraja Awards in Thailand this past May. (h/t Bangkok Post), and the ONE co-founder is delighted by how well it has been received.
“ONE’s popularity in Thailand is unprecedented for any content genre in the Thai media industry,” Sityodtong said.
“According to Nielsen, ONE has consistently been the most watched programme of any kind every week in Thailand ever since the launch of ONE Friday Fights at Lumpinee Stadium.”
The rise of ONE Championship is now undeniable.
Earlier this year, Forbes gave the organization a valuation of $1.3 billion, based on US$140 million revenue in 2023, putting it among the top combat sports brands in the world.
With ONE about to start a new chapter, Sityodtong is confident that things will only continue to improve from here.
“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,” he stated.