Paramount and PBR Announce Landmark Five-Year Media Rights Deal

Paramount+ to Become Streaming Home of PBR Unleash The Beast

November 5, 2025 - Paramount and PBR (Professional Bull Riders) today announced a new five-year media rights agreement that will make Paramount+ the primary streaming home of PBR's premier tour, Unleash The Beast, starting in the 2026 season beginning December 12.

Under the agreement, for the first time ever, Paramount+ will stream live coverage of the full PBR Unleash The Beast (UTB) season - the highest level of individual bull riding competition spanning five months in 19 cities across 17 states. The partnership builds on the long-standing relationship between PBR and CBS Sports, which began in 2013 and runs through 2030. CBS Television Network will continue to carry the CBS Game of the Week during the 2026 Unleash The Beast Season. This announcement reinforces Paramount's strong partnership with PBR, which also includes Pluto TV's collaboration that began in 2021 with the launch of PBR RidePass, as an exclusive live channel on the platform.

"This deal aligns with our longstanding relationship with CBS and reflects our shared commitment to expanding PBR's reach," said Sean Gleason, PBR CEO and Commissioner. "We are excited to continue this extraordinary partnership and thrilled that this new deal, bolstered by Paramount+, will bring our sport to an ever broader audience"

"CBS Sports has been the home of PBR for decades, and we are proud to deepen our partnership by bringing the Unleash the Beast series to our expanding streaming audience on Paramount+," said Dan Weinberg, EVP, Programming, CBS Sports. "This extension enables us to extend our reach, delivering dynamic PBR content to an even wider audience."

PBR continues to perform strongly on broadcast. In October, CBS aired its highest-rated PBR broadcast of all time, reaching an average of 2.70 million viewers.

Highlights of the 2026 Unleash The Beast season include PBR's debut at TD Garden in Boston and Doak Campbell Stadium at Florida State, as well as reurn visits to Madison Square Garden in New York for the 18th time and to Pittsburgh, PA following back-to-back sold-out nights at PPG Paints Arena in 2024. Kicking off December 12, 2025 in Manchester, NH the 2026 season will culminate in the PBR World Finals: Unleash The Beast, returning to Fort Worth, Texas with events at Cowtown Coliseum (May 7-10) and championship rounds at Dickies Arena (May 14-17).

PBR is part of TKO Group Holdings, which recently announced major agreements with Paramount. Beginning in 2026, Paramount+ will become the exclusive U.S. home for all UFC events - including 43 annual events spanning marquee events and Fight Nights - with select events also airing on CBS. Building on that agreement, Paramount+ also secured the live streaming rights to UFC in Latin America and Australia for seven years beginning in 2026. Additionally, Zuffa Boxing will stream exclusively on Paramount+ in the U.S., Canada, and Latin America beginning January 2026. TKO-owned global sports marketing agency IMG advised PBR on negotiations with Paramount+.

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About Paramount, a Skydance Corporation

Paramount, a Skydance Corporation (Nasdaq: PSKY) is a leading, next‑generation global media and entertainment company, comprised of three business segments: Filmed Entertainment, Direct-to-Consumer, and TV Media. The Company's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS - America's most-watched broadcast network, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, SHOWTIME(R), Paramount+, Pluto TV, and Skydance's Animation, Film, Television, Interactive/Games, and Sports divisions. For more information, please visit www.paramount.com.

About PBR (Professional Bull Riders):

PBR is the world's premier bull riding organization. More than 1,000 bull riders compete in more than 200 events annually across the televised PBR Unleash The Beast tour (UTB), which features the top bull riders in the world; the PBR Pendleton Whisky Velocity Tour (PWVT); the PBR Touring Pro Division (TPD); and the PBR's international circuits in Australia, Brazil, and Canada. In 2022, the organization launched PBR Teams - 10 teams of the world's best bull riders competing for a new championship - as well as the PBR Challenger Series with more than 50 annual events nationwide. PBR events are broadcast on CBS Television Network and Paramount, CW Network and FOX Nation. PBR is a subsidiary of TKO Group Holdings, Inc. (NYSE: TKO), a premium sports and entertainment company. For more information, visit PBR.com, or follow on Facebook at Facebook.com/PBR, X at X.com/PBR, and YouTube at YouTube.com/PBR.