From Muay Thai to entrepreneur: navigating uncertain times with a cash-rich lean business
In this episode of SCMP Conversation: The Next Normal, Gary Liu, CEO of SCMP, spoke with Chatri Sityodtong, CEO and Chairperson of ONE Championship. They discussed how Chatri guided his company through COVID-19 to become the first global sports property to come back online in Asia.
ONE Championship was thriving at the beginning of 2020. They were on track to have a record year until March and the start of the COVID-19 crisis. Throughout March, April, and May of 2020, Chatri’s company could not host any live events. As Asia’s largest global sports media company, live events were the backbone of their business.
However, Chatri and his team did not let a global pandemic stop them for long. They started to focus on finding creative, resilient solutions that allowed them to continue operating safely until the COVID-19 crisis was resolved.
Chatri began working with the Singapore government to develop the safety protocols that would lead the way for the rest of his industry. With the approval of the Singapore government, ONE Championship came back online ahead of every other Asian sports property.
By October, Chatri’s company was hosting a global event with people in the building, and they were doing it safely. They realized that they could successfully broadcast from anywhere in the world without taking their team out of Singapore.
ONE Championship also greatly expanded its content creation. With so many users turning to digital content in a world that cannot have live events, Chatri knew his company had to take advantage of that.
They began developing online content for dozens of platforms, from mobile games to TikToks to remote music fests. Because fans could no longer attend live events and engage that way, ONE Championship had to find new ways to connect with their audience.
With these ingenious solutions, Chatri and ONE Championship ended 2020 with a record high. They have found a way to thrive in a crisis that has devastated many in their industry.
An innovative culture, commitment to success, and strong work ethic are how Chatri and his team overcame a global pandemic. The same values found in most martial artists are exhibited in ONE Championship’s dedication to success in challenging times.
With Chatri Sityodtong at the helm of ONE Championship, the company will almost certainly see the same success in 2021.
Check out the full conversation between Gary Liu and Chatri Sityodtong below:
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