The fighting event can end in a matter of seconds after first punch (KO). The broadcaster will then stretch it as long as they can showing replays, award ceremony and a pre & post-match analysis.
Very little time to show commercials. In countries where it’s socially acceptable to serve ads non-stop (like US) this is incomprehensible for TV stations. Hence the PPV to top up the revenue loss and be able to afford to pay millions to contesters.
In countries where fighters aren’t paid “hundreds of millions” per fight, TV broadcasters can afford running few ads and PPV isn’t popular. Never paid for PPV in my life, it’s an alien concept here.
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