MMA to esports: Jumping from ONE Championship to another

From aiming to be Asia’s answer to the US$7 billion worth American UFC to landing on a fake-it-till-you-make-it culture, mixed martial arts organiser and unicorn ONE Championship is trying out yet another move to survive till Round 2

One of Southeast Asia’s top-funded companies, ONE Championship has boasted of massive reach for its flagship mixed martial arts events

But such events have failed to make money from sponsorships or ticket sales, forcing ONE to resort to various tactics to mask lacklustre turnout

Looking for growth, the company has entered the esports industry, allowing its struggling MMA business to piggyback the new venture

The economic fallout from the Covid-19 pandemic hastens ONE’s need to find a clear path to profitability

Singapore-based mixed martial arts promotion ONE Championship hasn’t held a public event since 19 February due to restrictions on mass gatherings. But its problems started well before Covid-19.

Make no mistake, the US$1 billion-valued company showed promise. In December 2019, it held its first-ever esports tournament in the 12,000-seater Singapore Indoor Stadium. The event, which marked its move into esports, featured 12 of the world’s best Dota 2 teams, a cosplay superstar, and a US$500,000 prize pool. It was as big a spectacle as Southeast Asia had hosted.

But the esports push is a calculated gamble.

AUTHOR

Jum Balea

Jum is a Manila-based reporter for The Ken, where she covers startups and business across Southeast Asia, with a focus on the Philippines. She previously was editor for Tech In Asia, and business editor for Philippine media companies Rappler and ABS-CBN.

View Full Profile

Others tell you what. We tell you the ‘So What?’

Read articles that decode the most significant shifts happening around business, technology, startups and healthcare. 1000+ articles for subscribers of the India edition. 150+ articles for subscribers of the Southeast Asia edition. Plus premium newsletters that help you make sense of the world around you.

So much journalism in India is superficial.

Articles are generic, almost cookie-cutter in their approach. And they don’t provide enough context on the issues they cover. The Ken is different. I don’t always agree with everything they say but I appreciate their commitment to publishing deeply reported narratives and investigations. Their reporters find new ways to analyze tech among other industries. And that’s always worth a read.

Sid Talwar / Co-Founder and Partner / Lightbox Venture Capital

As entrepreneurs, we thrive on being in the know at all times.

A personal subscription to The Ken was a no brainer. But as startup founders, this isn't enough. Team members also need to be in the know, for everyone handles customer-facing responsibilities and an ecosystem change that impacts customers also impacts us

Kiran Jonnalagadda / Co-founder / HasGeek and Internet Freedom Foundation