Long term, Cable and Network TV are both dying. Streaming is the future. More and more people cut the cord every year.
Shifting to streaming will allow them to cut the cable/satellite providers out of the deal. Right now, cable providers get 50% of the revenue for every ppv they sell. I think they should use those savings to drop the prices on ppvs to make the sport more accessible, and get viewership closer to the critical mass it takes to get interest to go viral. They should also give discounts to people who buy a package of all the PPVs for say, the next 6 months, using Fight Pass.
In the meantime, I do think they need more major events on regular TV, on ESPN/ABC in particular. ESPN promotes the fuck out of any sport they own the rights to by covering those sports more extensively on Sportscenter and airing shoulder programming. Right now, any coverage they give to MMA just drives viewership to their competitor FS1.