Martial arts is becoming big business in Asia. Despite having its origins in Japan and China, mixed martial arts is still relatively new to the region and as demand for the sport booms, businesses are betting on a strong future.
"Mixed martial arts (MMA) has the potential to become Asia's number one sport; it is on track for that," said Victor Cui, CEO of ONE Fighting Championship (ONE FC), Asia's largest sports media company.
Cui's Singapore-based company organizes MMA events throughout Asia and boasts 90 percent regional market share. It is Asia's equivalent to the U.S.-based Ultimate Fighting Championship (UFC) – the world's largest MMA organization.
"Asian fighters are very relevant on the global arena, but as an entire sport, MMA is still relatively new in Asia," Cui told CNBC.
The level of demand for the sport is huge, Cui said, estimating the business is worth billions of dollars. He receives more than 200 e-mails a day from aspiring fighters and coaches who want to perform at ONE FC events. Impact MMA, a Singapore-based gym that specializes in combat sports, has seen its membership increase dramatically since opening its doors in 2010, with 400 to 500 active members at any given time.
Asian origins
Martial arts in Asia is decades-old. According to martial arts teacher Sifu Bertrand Lim, "Bruce Lee was said to be the father of MMA, because he put together the four pillars of martial arts. In reality, MMA is just a term made popular these days because many believe it to be muay thai, boxing or Brazilian jujitsu." Lim frequently trains with the son of acclaimed Chinese martial artist Grandmaster Ip Man.
Singapore is fast becoming Asia's MMA hub. In addition to ONE FC, the city-state is home to Evolve MMA – widely touted as Asia's training destination of choice for aspiring world champions and there are plans for further UFC international expansion as well as a third location in Singapore. In fact, more than 40 percent of the UFC's $2 billion in annual revenue comes from outside the U.S.
Singapore's One FC also targets China. Earlier this month, the firm announced a ten-event deal with promotion company AMC Live; it will hold events in ten different cities next year. While it's too early to estimate the value in China's market, its scalability is huge given the country's population, Cui said.