The meet and greet was at UFC 306 at the Sphere in Las Vegas nearly a year ago. In the luxury box of TKO Holdings, which owns UFC and WWE, were media luminaries: Amazon’s Jeff Bezos, Disney’s Bob Iger and the future leader of Paramount, David Ellison, CEO of Skydance.

As these shifts take place, the media industry is about to go through a major test: how many people are willing to pay for a lot of — but not all — the sports content they want to watch.

The UFC’s newly announced $7.7 billion broadcast deal is being hailed as a major step forward for the sport, but not everyone is convinced it is entirely good news. On Monday, UFC boss Dana White revealed that the company will be moving away from its traditional PPV model,