Boxers Floyd Mayweather and Manny Pacquio are each known to pack a hard punch, but their fists have managed to break something else. Their 12-round May 2nd welterweight title unification bout has broken many records for revenue for a pay-per-view event.
The fight now ranks as the highest-grossing pay-per-view event of all time, according to HBO and Showtime, the two media companies that put the fight together along with Mayweather Promotions and Top Rank Inc.
Initial reports from distributors indicate that the event generated more than 4.4 million U.S. buys and more than $400 million in domestic pay-per-view revenue alone. The event is expected to generate in excess of $500 million in gross worldwide receipts, when additional revenue from the live gate at MGM Grand in Las Vegas, international television distribution, sponsorships, closed circuit and merchandise sales are tallied
The previous records for a pay-per-view event were 2.48 million buys generated by the Oscar De La Hoya vs. Floyd Mayweather boxing match in 2007, and $150 million in U.S. pay-per-view revenue generated by Mayweather vs. Canelo Alvarez in 2013.
Live gate receipts for the event, held at the MGM Grand Garden Arena, produced more than $71 million in revenue, compared with the previous live gate record of $20 million (for the Mayweather vs. Canelo fight).
The event sold nearly 46,000 closed circuit admissions at MGM Resorts International properties in Las Vegas alone and was available at more than 5,000 bars, restaurants and commercial establishments throughout the U.S.