I think the UFC needs to get on board with some sort of tournament style.
What I think the UFC should do is have a tournament every 4 years like the olympics/world cup, etc., featuring the top 4 fighters from each weight class (need some ranking system).
That would make 10 fights for the first show, so maybe have each fight be like one 10-minute round, two 5-minute rounds, etc. so we could watch them all on ppv.
Then for the next show have the finals...featuring 5 fights which would be the final of each weight class.
I think it would be a great event to change things up every 4 years, be a great accomplishment for a fighter to win an event that happens only every 4 years, give fighters who are not the champion something to work for (top 4 ranking), and give the UFC a chance to do an opening ceremony.
Maybe the UFC could even do a medal ceremony at the end.