Welcome to Midnight Mania!
ONE FC- technically ONE Championship now- are an important fighting organization in Asia. They just signed Eddie Alvarez, in their first notable American signing since Ben Askren ended his career there. Their CEO, Chatri Sityodtong, is known for his bold pronouncements. They ARE very good at raising venture capital... but so far, they have been losing money- a lot of money.
Bloody Elbow’s John Nash reported on their financials, and they revealed a company that is yet to live up to its’ promises.
It turns out that while their revenue is growing, ONE’s losses are also growing, reaching an accumulated total of almost $93 million (in Singapore dollars) at the end of 2017. This wouldn’t be entirely unheard of, with the UFC itself reportedly bleeding money in the early years, but the UFC was a rarity in that it eventually turned the ship around. Many MMA promotions have not been as lucky, Nash noting that IFL and Elite XC went down similar paths in terms of losses before eventually closing down.
Casual observers might say “But there seems to be real media interest in Asia!”— Jonathan of Kowloon & Geylang (@GlobeSvcs) September 2, 2018
Not really. It’s all smoke and mirrors. They even fake the paparazzi entrance into the arena.
Thread here. https://t.co/RniAlx0D4x
However, ONE has been able to alleviate concerns by continuing to raise money, closing 2017 with 45 million in the bank, and raising a staggering 260 million Singapore dollars in three offerings of shares. In addition, their revenue has risen year by year- but not as quickly as expenses. ONE spends an ever-increasing stream of cash on consultants and marketing.
Chatri Sityodtong explained how this fit into ONE’s strategy, a slightly more sophisticated version of ‘Fake it till you make it’, but with a fanbase.
“There is no difference between Facebook’s business model and ours. in the first few years, all that Facebook cared about was users. Eventually, when their user base was huge, they could go to advertisers. We care about fans. (Eventually) we will go to broadcasters and advertisers.”
“Reach versus monetization is a trade-off. We have had the benefit of our capital and now investors who see the world our way. We aim to create the purity of engagement, get scale, then monetize at scale,”
It is a strategy that could still pay off- and for the sake of international competition for MMA fighters like Eddie Alvarez, let’s hope it does.
Megan Anderson vs. Cat Zingano is a great fight and a good backup to Cyborg vs. Nunes
Hopefully Dustin Poirier gets some good news.
At the airport Flying to LA for a full day of medicals tomorrow. Hoping to get some good news!!— The Diamond (@DustinPoirier) October 17, 2018
Is he angling for a fight with Tony Ferguson? Because while Ferguson has richly earned his title shot, I would also watch that all day.
Alexander Gustafsson looks a lot buffer as a cartoon Viking
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My Alexander “The Mauler” Gustafsson comic book cover - “The Viking Cometh!” - - - #illustration #comicbookart #comicbookcovers #pencildrawing #mma #ufc #mmaart #new #characterdrawing #marvelcomics #dccomics #drawing #sketchpad #artistoninstagram #fightposium ##boxingscomicsguy #themauler #alexandergustafsson #ufc232 #jonesgustafsson2
If Mike Tyson is your referee, you should be scared- very scared.
Demetrious Johnson is only just now a brown belt, but he’s been tapping black belts for years
I mean... they do knock first.
I pray every night that if USADA decides to show up in the morning please do not have morning wood— Brian Kelleher (@brianboom135) October 17, 2018
Chuck Liddell shouldn’t shave clean
I almost feel bad posting Tito Ortiz saying this stuff.
Combat sports this weekend
Slips, Rips, and KO Clips
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A snippet of the @youssefboughanem versus Kongjak WBC middleweight world title fight from Saturday night — Youssef the winner via points • BOON Sport always innovative in their approach to manufacturing high quality products — Shop direct https://www.boonsport.com • #boonsport #thailand #muaythai #siamfightnews #phuketfightclub
Yuki Niimura challenged Ryo Kawamura for the middleweight title at Pancrase 291, looking to avenge a prior KO loss to "Rocky." Madness ensued after a tense first round.— Kyle Johnson (@Maldobabo) October 17, 2018
This may be the wildest fight in Pancrase history. #Pancrase300 pic.twitter.com/w7yhSVvByq
Remember the president of Iran? He’s on Twitter now saying stuff like this.
With a hard work ethic Inshallah the U of M will return to its glory days.— Mahmoud Ahmadinejad (@Ahmadinejad1956) October 16, 2018