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Sherdog is a very vocal, yet miniscule contingent of the UFC's fanbase - if you could call it that, as the boards mostly hate everything about it - which usually pays for none of it and is the antithesis of the common, casual fan who digests the sport differently and actually spends money on it.
In reality, the UFC has never been more profitable and likely never as popular even as they cling to the antiquated PPV model that other forms of entertainment have left behind.
The UFC had a live gate total of $119 million in 2023, up from $84 million in 2022. The UFC made $1.3 billion last year, up from $1.1 billion in 2022. 363K people attended live events last year. The UFC had six of its top ten gates ever in the last 20 months.
I'll be shocked if media rights fees don't jump at least 40% on their next deal to $500+ million a year.
It's online growth is substantial month to month.
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It's more popular than boxing.
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And 51% of 18-34 year old men in a recent study are fans.
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But yes, the UFC is dying, and began to die on November 12th, 1993. In before shill quotes, lol.
Big numbers don't matter, the spirit is dead.