ONE Championship is on course for its biggest financial year yet, according to ONE Championship Chairman and CEO Chatri Sityodtong.
Earlier this year, Forbes ranked ONE as one of the world's most valuable combat sports properties at over $1 billion. 2024 will only serve to strengthen that position with record-high revenue for the organization.
"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," Sityodtong said (h/t South China Morning Post).
"Our run rate revenues will approach US$200m this year, representing a 50 percent increase from 2023."
In the post-COVID world, ONE has been able to increase its live event schedule. ONE is looking to run 60 live events this year, including two in the United States.
"In 2024, ONE continues to set record highs in viewership metrics with 60 live events, underpinning the sharp increase in revenues from multiple countries," Sityodtong stated.
The organization has staged its ONE Friday Fights series from Lumpinee Boxing Stadium in Bangkok, Thailand. That series has become a massive success for the promotion in the country, winning Best Sports Program at Thailand's Nataraja Awards (h/t Bangkok Post).
"ONE's popularity in Thailand is unprecedented for any content genre in the Thai media industry," Sityodtong detailed.
"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 is excited about the pathway to profitability and what is to come next.
Expected to hit the achievement by the year of the year, Sityodtong is not ready to slow down.
Instead, it will mark a new beginning for the company and bring forth even more martial arts action to the global fanbase in the future.
"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.