When pound for pound pay-per-view boxing champion Manny Pacquiao stepped out of the ring and into retirement after his April 9 unanimous decision win over Timothy Bradley Jr., so went the second-biggest revenue generator in pay-per-view event history.

Pay-per-view boxing’s all-time revenue generator, Floyd Mayweather, had already hung up his gloves last year. The retirements of PPV boxing’s two top draws leaves the category with huge shoes to fill as it comes off its most-successful year ever — success due largely to the record-setting “Fight of the Century” between Mayweather and Pacquiao on May 2, 2015.

It could be years before another PPV-boxing match rises to match the performance of Mayweather-Pacquiao, which raked in 4.5 million buys and more than $400 million in revenue. But it might take just a few rounds for the sweet science to crown some new champions capable of consistently surpassing the industry’s benchmark of 1 million PPV buys, boxing observers said.

Up-and-coming champions aren’t just getting greater television exposure from traditional boxing outlets like HBO and Showtime. New distribution hubs such as the Premier Boxing Champions series — which airs on NBC, Fox, CBS, ESPN and Spike TV, among other outlets — are affording exposure to young fighters. And digital media, with its reach and immediacy, can help a fighter quickly build a brand beyond boxing circles.

“There’s always going to be the question of who’s next,” In Demand senior vice president of programming and business development Mark Boccardi said. “It’s a cyclical business and since the late 1990s, there’s always been someone to be that guy or those guys, and within the industry everyone is confident there will be a fighter or fighters who can do that.”

Indeed, after such heavyweights as Mike Tyson, George Foreman, Evander Holyfield and Lennox Lewis — as well as lighter-weight fighters like welterweight champion Julio Cesar Chavez — dominated the PPV category in the 1990s, there was a lull before Oscar De La Hoya assumed the mantle in the mid-2000s. Once De La Hoya retired, the stage was set for Mayweather and Pacquiao to rule the PPV event business.

STAR SEARCH

The template for building a PPV fighter has already been established, said Bob Arum, the president of boxing promotion company Top Rank. The key now is to find a fighter or fighters who can follow the game plan.

“It all depends on taking a fighter and putting him in a position where he can attract people to spend money on PPV to watch him fight,” Arum said. “That’s easily said and hard to do.”

Arum, a veteran promoter who worked with Pacquaio and promoted Mayweather in his early boxing years, said that in addition to championship in-ring skills, first and foremost a successful PPV fighter must appeal to as many demographic groups as possible — something both of the aforementioned fighters were able to accomplish over the years.

So who’s closest to stepping into the vaunted PPV ring? The consensus among most boxing observers is that Mexican boxer Canelo Alvarez is poised to make the quickest move to PPV superstar status. The middleweight champion — who’ll fight Amir Kahn in a May 7 HBO-distributed PPV event — has already participated in the third-biggest PPV event of all time: his 2013 fight against Mayweather, which drew 2.2 million PPV buys.

His last fight, in November 2015 against Miguel Cotto, pulled in more than 900,000 buys, according to HBO.

“Clearly, with Canelo, you have a PPV superstar that can transition into the next great era,” Mark Taffet, president of sports marketing/consulting company Mark Taffet Media, said. “The challenge for the sport, in order to create a regular flow of million-buy mega-fights, is to develop a great supporting crew.”

Other up-and-coming fighters like welterweight champion Keith Thurman, junior welterweight champ Terence Crawford, middleweight titleholder Gennady Golovkin, undefeated former super middleweight champion Andre Ward and heavyweight champions Deontay Wilder and Anthony Joshua have been identified as potential draws either on their own, or pitted against one another in PPV mega-fights.

Top Rank will look to build a July PPV card featuring Crawford, Arum said, while the industry is hoping to schedule at least one fall PPV mega-event, although it’s unclear who would headline it.

STILL BUILDING FANS

But as good as those fighters are — and as well-known as they are within boxing circles — they still have yet to develop the broad, diverse audience they’ll need to win in the PPV arena, according to boxing observers.

“It takes time,” said Tony Paige, a boxing broadcaster and sports-talk host on New York radio station WFAN. “The fighters will have to build themselves up with big fights over time to become big PPV draws. If you get enough big wins, you’re driving the bus, so to speak.”

Some observers said the development of the Premier Boxing Champions series, which showcases current champions and young fighters on live fight cards airing on NBC, CBS, Spike TV, ESPN, NBCSN, CBS Sports Network and FS1 — along with other networks like BET and truTV from time to time — as a step in the right direction.

“The sport is not only in the transition to see who ascends to the mountaintop next, but I think there’s a great opportunity with the quickly changing television landscape and technology to reach out and attract the next generation of fans to support the next generation of fighters,” said Taffet, who most recently served as senior vice president of HBO Sports. “It’s a challenge promoters and networks must readily accept to insure a very fertile environment for the sport going forward.”

But offering fights on too many outlets could actually curtail the ability to create one or two mega-stars, Paige cautioned. “It’s hard to build up interest in one particular fighter when that fighter fights one month on one network and then maybe three months later on another network,” he said. “It’s hard for fans to keep up with the schedule.”

Developing continuity in the sport’s message to the consumers is critical if boxing is to build its next wave of top fighters into PPV superstars, Taffet said. “It’s important for consumers to regularly be in touch with the sport, the athletes and the storylines, so that in their increasingly busy, media-savvy days they can develop the attachment that leads to true fan support on an ongoing basis.”

One way to get a fighter’s brand beyond boxing’s core fan base is via social media. Digital platforms such as Facebook, Twitter and Instagram give promoters, fighters and sponsors a chance to continuously feed fans’ appetites in ways that have yet to be fully exploited, Taffet said.

Added WFAN’s Paige: “If you don’t get beyond your core followers you’re just preaching to the choir. What always makes boxers and boxing successful is when you get a crossover audience of people that don’t have anything to do with boxing, but are interested in the fighter.”

Getting to that point will take a combined eff ort from several corners, according to executives.

“It’s not just as simple as everyone getting together and saying let’s just create someone,” said In Demand’s Boccardi. “It’s a combination of the promoter doing their job and finding the fighters, the networks doing their job and helping to develop them, and the PPV industry doing their job to help promote those fighters.”

Mark Taffet is leaving HBO at year-end after a quarter century in its sports department. Most recently senior vice president of HBO Sports, Taffet helped launch HBO’s pay-per-view division, then dubbed TVKO, in 1991 with the Evander Holyfield-George Foreman fight.

Through HBO boxing, Taffet has had a hand in delivering some of the biggest events in PPV boxing history, including two of the top three PPV events of all time: the May 2 Floyd Mayweather-Manny Pacquiao fight, which drew a record $400 million in revenue and 4.4 million buys; and the 2007 Mayweather-Oscar De La Hoya bout, which generated the second-most buys at 2.7 million.

Taffet, who was recently inducted into the New Jersey Boxing Hall of Fame, spoke to Multichannel News programming editor R. Thomas Umstead about his decision to leave HBO at the end of his contract as well as his future plans in the sport. An edited portion of this interview appeared in MCN's Dec. 14, 2015, issue; the full-length version follows.

MCN:What prompted your decision to leave HBO now?

Mark Taffet: I decided that, sitting at the top right now after the biggest year in the history of PPV and ending with the [Nov. 21 Miguel Cotto-Canelo Alvarez PPV fight], there would never be a better time for me to begin the next chapter of my career. Given my passion and energy for the sport, I thought it was time for me to fulfill some of my dreams and work closer with promoters, fighters and other key players in the sport in a way that my job definition at HBO as a television executive wouldn’t accommodate.

MCN:So your plan is to remain in the sport of boxing?

MT: I have a keen interest in helping in some way to shape the next great era of boxing. I feel that it is the most fulfilling next step for me, and I hope to work with a number of players — most of whom do business with HBO — and help them realize their dreams.

MCN:Are we at the cusp of that great era, since Floyd Mayweather says he’s retiring and we’re still in the process of building that next pound-for-pound champion?

MT: I’ve been very fortunate in that I began during the great heavyweight era of Holyfield, [Mike] Tyson and [Lennox] Lewis, and worked through the transition of that era to Oscar De La Hoya, and was part of the transition to the next great era of Mayweather and [Manny] Pacquiao. What happens over the next year or two inside and outside the ring with those fighters and promoters will have a lot to do with the shape of boxing’s next great era, and I would like to be part of that process.

MCN: Along with experiencing the changes of boxing in the ring you’ve also witnessed an evolution in how boxing and other sports and entertainment events are delivered to homes via pay-per-view. How has the change in technology influenced the sport?

MT: Boxing was uniquely suited for pay per view because of the technology that was in place in the late 1980s and early 1990s, when people drove to stadiums, arenas, racetracks and movie theaters to watch big-time boxing on a closed-circuit basis. Pay per view offered a great improvement over that experience by allowing people to sit in the comfort of their own homes. The subsequent development of digital signals, high-definition pictures, surround sound and big-screen TVs took the in-home experience to another level and really helped accelerate the explosion of pay per view from 16 million homes in 1991, when we did our first fight, to well over 100 million homes today, with Mayweather-Pacquiao and Canelo-Cotto having taken place this year.

Technology has always been a driver of boxing pay-per-view, and I believe that we are approaching another one of those eras where technology will have a great impact on the next generation of the sport. Virtual reality, 3D TV, personal and mobile device viewing and video streaming are all likely to be factors in the next iteration of the sport’s growth. It will be a very exciting few years ahead for boxing and for pay per view.

Time will tell whether or not boxing champion Floyd Mayweather will go down as the greatest pugilist in the history of the sport.

In terms of champion sports brands, though, the 38-year-old Mayweather — who won 12 world titles in five different weight classes before announcing his retirement in September — is currently the undisputed, pound-for-pound titleholder.

Read R. Thomas Umstead's Q&A with MCN's Male Athlete of the Year.

Earlier this year, Forbes named Mayweather as the world’s highest-paid celebrity in 2015. The boxer generated a record $300 million this year, obliterating the previous high of $115 million earned by professional golfer Tiger Woods in 2008.

Much of what Mayweather earned this year was generated by his much-hyped May 2 fight against Manny Pacquiao, which set pay-per-view industry records for buys (4.4 million) and revenue ($400 million), destroying the previous record of 2.47 million buys generated by the 2007 Floyd Mayweather-Oscar De La Hoya fight and the $150 million in revenue earned by the 2013 Mayweather-Canelo Alvarez fight.

Mayweather’s Sept. 12 fight against Andre Berto completed his unprecedented six-fight deal with Showtime, which generated about 10 million buys and $800 million in PPV revenue over its three-year span.

COTTAGE INDUSTRY

“There are entire sports leagues and corporations with hundreds of employees who would love to have the economic impact that Floyd has had over the past few years,” Stephen Espinoza, executive vice president and general manager of Showtime Sports, said.

Mayweather, who earns the inaugural Multichannel News male Athlete of the Year Award, has been in the top echelon of boxing since he won the super featherweight title in 1998. Mayweather would go on to amass a record of 49-0 over his 19-year pro boxing career, winning championships in five different divisions against such formidable opponents as the now-retired De La Hoya, Pacquiao and current middleweight champion Alvarez.

“He’s faced everybody and he’s beaten the best in the game,” said Leonard Ellerbe, CEO of Mayweather Promotions, the fighter’s boxing and entertainment promotion company. “He’s beaten these guys in their prime and makes very good fighters look ordinary. Name me one athlete in any sport who is the best at what they do at the age of 38.”

Mayweather’s 2007 fight with De La Hoya, his 2013 bout with Alvarez and this year’s fight with Pacquiao serve as the only PPV events ever to break the 2 million buy mark.

Read about MCN's Female Athlete of the Year, Ronda Rousey.

Mayweather’s brand extends beyond the ring. He took full advantage of the emergence of social media to further perpetuate his personality and persona. Mayweather has more than 12 million Facebook fans and 6.5 million Twitter followers. Observers say Mayweather has used social media effectively to talk directly to his fans and sell his fights as has no other professional athlete.

Over the years, he has also appeared in numerous high-profile media events, from WWE’s WrestleMania to ABC’s Dancing With the Stars, building more awareness for himself, the sport and the brand.

“No one has exploited social media like Floyd Mayweather,” HBO Sports senior vice president Mark Taffet said. HBO distributed several Mayweather PPV events in the 2000s and co-promoted the record-breaking Mayweather-Pacquiao fight with Showtime.

“Floyd has worked very, very hard to achieve the PPV figures that he achieved,” Taffet added. “It was no accident.”

Of course, Mayweather is not without his detractors. They criticize the fighter’s somewhat action-deficient defensive boxing style, as well as his often abrasive personality. But In Demand senior vice president of programming and business development Mark Boccardi said that criticism has worked to Mayweather’s advantage with regards to his PPV fight performances.

POLARIZING FIGURE

“Whether he was ‘Pretty Boy Floyd’ Mayweather or ‘Money’ Mayweather, he created a legion of fans that wanted to both see him win and lose, and there’s a large segment of PPV buyers who bought his fights to see if someone could really beat this guy,” Boccardi said. “What he really did was create both those camps — the pro-Mayweather and pro-Mayweather-opponent camps — and that’s why he was able to generate the PPV buys that he did.”

Added Showtime’s Espinoza: “There are a lot of different opinions on his personality and the image that he portrays publicly. Regardless of those opinions, everyone in the sport has benefited. The sport would not have received the level of mainstream exposure, awareness and worldwide media attention without him.”

As for the future, Mayweather said he will remain retired, and Ellerbe added that the fighter is content to leave the sport behind after a phenomenal career. “He’s done everything he can in the sport of boxing, and he’s ready for the next stage of his life.”

Others however are not convinced, and hope to once again see Mayweather in the ring.

“There are a large number of people who secretly, and not so secretly hope he comes back including TV-distribution companies and Las Vegas touring companies,” Espinoza said. “We’re patiently waiting to see what develops.”