TKO President Mark Shapiro says WWE and UFC are both “$20 Billion” properties

TKO president Mark Shapiro appeared with TKO CEO Ari Emanual and revealed the value of UFC and WWE during an appearance on the Feb. 6 edition of The Pat McAfee Show. Shapiro and Emanual were discussing their newest property, Zuffa Boxing, which they believe can get to the same level business-wise as UFC and WWE. “I think that business for us can be as big as our UFC and WWE business,” said Emanuel.

Shapiro then added, “UFC and WWE are $20 billion properties, $20 billion each. Boxing, give us some time. It’s a huge grower.”

TKO has expanded its portfolio this past year adding Zuffa Boxing to its portfolio, which already included WWE and UFC. Zuffa Boxing currently airs on Paramount + after reaching a deal with the streaming platform in Sept. 2025. Paramount + is also the new home of UFC Numbered Events, which had previously aired on ESPN as PPVs until Paramount + began airing them in January 2026.