The Chief Executive Officer and Chairman of ONE Championship, Chatri Sityodtong, has conveyed his confidence in the sports promotion’s trajectory towards achieving profitability by 2024. Following a billion dollar valuation earlier this year, Forbes reported that the organization’s revenue in 2023 had reached approximately US$140 million, leading to a valuation of US$1.3 billion. ONE Championship was thus recognized as the fourth most valuable sports promotion, with Forbes acknowledging it as “one of the fastest growing companies in combat sports.”
Sityodtong has indicated the likelihood of the promotion attaining profitability in the latter half of 2024. He attributes this outlook to a combination of substantial revenue growth and effective cost optimization. His optimism is reinforced by the expectation that ONE’s run rate revenues will approach US$200 million in 2024, representing a 50% increase from the previous year.
Since its establishment in 2011, ONE Championship has consistently organized events globally and broadcasted live to 195 countries on a weekly basis. The promotion experienced a particularly active schedule in 2023, with a notable surge in live events contributing to record revenue. Sityodtong emphasized the impact of increased live events in driving the promotion’s financial success, noting that the 60 live events held last year set new records for viewership metrics and significantly bolstered revenues across multiple countries.
Thailand has emerged as a crucial market for ONE Championship, with weekly events at Lumpinee Stadium and a robust global broadcast presence. Notably, the promotion’s popularity in Thailand has surpassed other content genres, consistently ranking as the most-watched program in the country each week, according to Nielsen.
Several factors have contributed to the substantial growth in revenue for ONE Championship, including heightened viewership and the successful international expansion of the organization. This expansion has facilitated broadcast partnerships in over 195 countries and positioned ONE as a major player in the global sports media landscape.
The attainment of profitability represents a significant milestone and the next strategic objective for ONE Championship, according to Sityodtong. He has expressed his optimism for the future, underscoring the years of investment in building a global brand, a live content and distribution engine, and a world championship athlete roster. Sityodtong and his team are “thrilled” that ONE Championship has entered a new phase of profitable growth.
The remarkable ascent of ONE Championship and its ambitious projections for profitability reflect its status as a dominant force in the world of sports promotion. With a burgeoning global fanbase and a commitment to delivering world-class entertainment, the organization is poised for continued success in the years to come.