Floyd Mayweather vs. Canelo Alvarez sets new PPV record

Floyd Mayweather's bout with Canelo Alvarez was expected to do big business from the moment it was announced. In the days leading up to the fight, Richard Schaefer of Golden Boy Promotions said that the fight would almost certainly set a new pay-per-view revenue record.

That has come true as Showtime announced that the fight did 2.2 million buys for a revenue of $150,000,000. That beats out the old record held by Floyd Mayweather vs. Oscar De La Hoya.

From the Showtime press release:

THE ONE: MAYWEATHER VS. CANELO — ranked as the highest-grossing pay-per-view of all time, with nearly $150 million in U.S. pay-per-view revenue reported to date. The news was announced today by Showtime Networks Inc., a division of CBS Corporation (NYSE: CBS.A and CBS), in conjunction with event promoters Mayweather Promotions and Golden Boy Promotions.

The SHOWTIME PPV presentation of THE ONE surpassed the previous record of $136 million generated by Oscar De La Hoya vs. Floyd Mayweather boxing event in 2007.

Preliminary reports from distributors show pay-per-view buys projected to be 2.2 million. While not fully reported from all distributors, the total buys could challenge the existing record of 2.48 million pay-per-view buys set by De La Hoya vs. Mayweather. The initial report immediately following the De La Hoya vs. Mayweather event in 2007 was 2.15. THE ONE has already exceeded the previous #2 event, the infamous World Heavyweight Championship bout between Evander Holyfield vs. Mike Tyson II (1.95 million, 1997).

So there's still an outside shot that it breaks the all time buy number as well, but 2.2 million at $65 (standard definition) and $75 (high definition) is a success by any measure and anyone who suggests otherwise is out of their mind.

The fight also did huge business in Mexico, where the bout was broadcast on Televisa. As explained by Scott Christ of BadLeftHook:

In Mexico, the fight on Televisa had a 41.1 rating, 77 share, and was watched by 22.1 million viewers in 5.9 million households. These are new records for boxing on TV in Mexico. Canelo's previous high came in April, when he fought Austin Trout and drew 15 million viewers.

I don't imagine this fight will do anything to hurt Canelo's starpower. He lost the fight, but kept coming forward and didn't do anything to embarrass himself or Mexico's proud boxing tradition.