ONE Championship Chairman and CEO Chatri Sityodtong is optimistic that 2024 will bring the organization to profitability. The company has driven its brand to new heights across various metrics in recent years while gaining fans around the world. With increased revenue hitting new highs, Sityodtong believes they will cross the threshold before the end of the year.
“Through a combination of strong revenue growth and good cost optimization, ONE will achieve profitability and positive cash flow in the third or fourth quarter of this year. Our run rate revenues will approach US$200m this year, representing a 50 percent increase from 2023,” Sityodtong said (h/t South China Morning Post).
In April, Forbes listed ONE as one of the world’s most valuable combat sports properties. Sityodtong only disputes that the brand is worth more after its last fundraising round in 2021 and the company’s growth since then. As the value continues to climb, it is easy to see why the company’s growth energizes Sityodtong.
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“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. Our last round with investors was done at US$1.4 billion in 2021. Since 2021, ONE has grown exponentially in popularity metrics, driving significant revenue growth for ONE,” Sityodtong said (h/t Bangkok Post).
ONE plans to stage 60 events in 2024. The ONE Friday Fights event series in Bangkok is a driving force toward that goal. The series routinely delivers memorable action from one of the sport’s most famed venues, Lumpinee Boxing Stadium. The next event, ONE Friday Fights 68, will continue to deliver with Prajanchai PK Saenchai meeting Jonathan Di Bella for the ONE Strawweight Kickboxing World Championship on global pay-per-view.
ONE Friday Fights, known as ONE Lumpinee locally, has become an award-winning program in Thailand. At the 15th annual Nataraja Awards, the broadcast received the honors for “Best Sports Program.” The Thai market has become a significant contributor to ONE’s success.
“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 programme of any kind every week in Thailand ever since the launch of ONE Friday Fights at Lumpinee Stadium,” Sityodtong stated.
The drive that has brought ONE to this moment is not going to stop once they reach the goal. As they continue to build the brand in the United States, with two shows planned for 2024, ONE is just getting started. Although it will be a milestone for the company, profitability will only open the door to a brighter future for martial arts across the globe.
“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,” Sityodtong said.
