If you are planning to watch a sporting event this Saturday, there is a strong chance you will be streaming mixed martial arts on Netflix. While the NHL playoffs and MLB’s Subway Series are on, both the NBA and WNBA have the day off, and the combat sports calendar has largely cleared the way for Netflix’s first-ever MMA broadcast.
Most Valuable Promotions (MVP) is organizing what promises to be a blockbuster night of action, headlined by Ronda Rousey versus Gina Carano, with Francis Ngannou fighting Philipe Lins and Nate Diaz taking on Mike Perry at Los Angeles’ Intuit Dome. Of the five boxing events Netflix has produced and streamed, MVP has promoted three of them, including the Jake Paul-Mike Tyson fight in 2024, which was reported as the most streamed sporting event ever at that time.
Jake Paul and Nakisa Bidarian co-founded MVP in 2021, focusing on creating massive events for Netflix while building a strong women’s boxing division featuring champions like Amanda Serrano and Holly Holm. Bidarian told Yahoo Sports that over the next year, MVP plans to develop a roster of signed MMA fighters with a structured format and regular event cadence. For the first time, MVP will seek outside investment to expand its scale and scope.
“In the next 12 months, we'll raise capital for the first time and really accelerate our growth plans across boxing and MMA,” Bidarian said, aiming for just one funding round. “We know exactly the type of investors that we want, targeting a much broader audience than hardcore combat sports. If you're fishing in a lake, we want to be fishing in an ocean.”
Bidarian noted that MVP had fundraising discussions about 18 months ago with investors within the combat sports ecosystem but opted against it. Now, with Rousey, Ngannou, and Diaz as launching points, MVP is ready to enter a competitive space with the UFC, Professional Fighters League, and ONE Championship.
“We want to be a successful alternative product within the MMA space,” Bidarian said. “I can't compete with the UFC. I'd be lying to myself if I thought that, right? That's not the goal. But can I make an impact? Can I create opportunity, put on an amazing product and put all the money back into the shows and into the fighters? We’re pretty confident we can.”
From 2011 to 2016, Bidarian served as UFC’s chief financial officer and executive vice president of strategy and business ventures. In 2016, he helped Fertitta Entertainment and UFC parent company Zuffa sell a majority stake to a group led by WME-IMG (now Endeavor) and private equity firms KKR and Silver Lake for about $4 billion. After the sale, Bidarian became CEO of Fertitta Capital before co-founding MVP with Paul.
With MVP, Bidarian seeks to innovate, disrupt, and lead in MMA, focusing not only on star-powered fight cards but also on paying fighters better than other MMA organizations. On Tuesday’s “The Ariel Helwani Show,” Bidarian said all fighters on the card will earn a minimum of $40,000, significantly more than the UFC’s typical introductory pay of $12,000 to show and $12,000 to win. He also referenced UFC’s $375 million settlement of a 2014 class action lawsuit, which alleged anticompetitive practices that suppressed fighters’ wages.
“They're putting their lives on the line,” he said. “We're not looking to take the credit. We're not looking to fatten our pockets with their labor. This is a potential differentiation to bring fighters into the fold that may want to be properly compensated for their value.”
Bidarian declined to disclose exact financial figures but claimed several hundred million dollars in revenue over the last three years, adding that MVP has never lost money on events and does not plan to on Saturday. Netflix called MVP a fantastic partner set to deliver a breakout moment that benefits viewers and MMA fans worldwide, highlighting a commitment to combat sports, women’s sports, and global storytelling.
Netflix maintains a disciplined approach to large, buzzy events and is not interested in bidding on full sports seasons, including the NFL, as stated by CEO Ted Sarandos. ESPN recently lost UFC media rights to Paramount but already has a deal with MVP for its women’s boxing division through 2028. Whether ESPN will expand its relationship with MVP into MMA remains to be seen.
Bidarian noted that everyone is nervous about the NFL rights renewal, which may influence how media companies invest in MMA. “Obviously, the UFC rights are locked up for the next seven years,” he said, “but I would hope ESPN is going to continue to back MMA. It'd be a shame if it didn't.”
He called Saturday’s event as big an MMA card as possible, expecting positive feedback despite a vocal minority of UFC fans. Jake Paul conservatively estimates 20 million viewers, which would shatter the MMA viewership record. Bidarian understands the stakes: “I think the opportunities are going to be endless if Saturday night goes well.”
He hopes the Netflix broadcast will be a catalyst for MVP, which may separate its boxing and MMA businesses but is intrigued by fighters like Ngannou, Holm, and Paul competing in both disciplines. Carving out a strong space in women’s boxing is a start, but the real growth opportunity lies in MMA. How MVP performs this weekend could determine whether it becomes combat sports’ newest $1 billion brand.