In recent times, women’s sports have grown at an unprecedented rate. Go back a few years, and it was just a niche market; today, it’s a multi-billion-dollar industry, surpassing financial expectations and forecasts left, right, and centre.
Take Deloitte’s 2024 projection, for instance. It projected that the global women’s sports industry would exceed $1 billion by year-end. It was undoubtedly a promising forecast but not an entirely accurate one. By the end of the year, the global women’s sports industry didn’t just exceed 1 billion—it nearly touched $2 billion.
Per the latest Deloitte reports, the industry generated approximately $1.88 billion in revenue, attracting record-breaking investments and sponsorship deals while breaking global viewership records.
Women’s leagues and athletes, who for decades played second fiddle to men’s leagues and athletes, now stand toe-to-toe with their male counterparts. They are being recognised globally and backed financially by elite investors, sponsors, and broadcasters, for the buzz they have generated is unstoppable.
No longer promoting women’s sports is an act of equality; it’s a lucrative business venture. Safe to say, it’s one of the fastest-growing financial markets today with revenue growth potential that rivals and even exceeds some of the top men’s leagues and athletes.
Exploring the Rise of Women’s Sports
In November 2023, the National Women’s Soccer League (NWSL) secured a four-year media rights agreement with CBS Sports, ESPN, and Amazon Prime Video. The agreement was valued at $240 million, the largest in the league’s history. For context, their previous deal was valued at only $1.5 million.
These landmark broadcasting contracts highlight the recent shift in perspective. Top global networks now understand and recognise the commercial value of women’s sports, as the benefits aren’t just numeric; it’s about making a statement that conveys their brand’s values and commitment to diversity and inclusion while also helping them make millions.
Corporate giants like Microsoft, Nike, Visa, Adidas, and Google share this belief, having recently signed multimillion-dollar sponsorships with top women’s sports teams and athletes.
And what about the public response? It has been exceptional. Global women’s sports events are now routinely shattering viewership and attendance records. See the 2023 Women’s World Cup, for instance. The global event was followed by nearly 2 billion viewers.
The 2024 NCAA Final is another example. The championship game between Iowa and South Carolina captivated over 24 million viewers, even outperforming the 2024 NCAA Men’s Finals.
This trend isn’t limited to sports like soccer and basketball. Other popular sports, such as golf, tennis, volleyball, and softball, are also attracting and engaging millions of viewers worldwide.
Beyond the Screen Impact
The incredible viewership numbers and the rising appeal of the women’s sports industry have attracted major venture capital firms, sports franchises, and billionaire entrepreneurs to the scene. Unlike in the past, their investment isn’t restricted to team ownership but extends to developing state-of-the-art training facilities, launching new digital platforms, and promoting grassroots initiatives.
In the sports industry, everything is interconnected. You invest in the future, and the present value appreciates. That’s exactly what is happening with Portland Thorns FC and Portland’s forthcoming WNBA franchise.
Recently, RAJ Sports, the sports investment platform led by the Bhathal family, announced plans to invest over $150 million in a state-of-the-art training facility for the football club. For context, the club is currently valued at $92 million.
Investments like these highlight how investors now view the future of the industry, understanding that every penny invested today will likely multiply exponentially in the years to come.
Many leading sports investors think the same way, including Marc Lasry of Avenue Capital. They believe that the industry is still in its early phase compared to its already well-established male division. In other words, the market remains largely untapped, making it a prime investment opportunity.
Endorsements and Sponsorships: The Star Power
Beyond women’s sports leagues and teams, individual athletes are now being recognised as marketable figures. Historically, male athletes dominated major endorsement deals and global brand partnerships. But today, female stars are in equally high demand.
A’ja Wilson, the Las Vegas Aces star and two-time WNBA champion, is a prime example. In collaboration with her, Nike recently unveiled her signature shoe and apparel collection, the A’One. And she’s not the only one.
Caitlin Clark is another standout name. In April 2024, she secured an eight-year, $28 million deal with Nike, which includes a signature shoe and a unique personal logo, making her the first female basketball player to receive this distinction.
These high-profile brand partnerships highlight how the world views the women’s sports industry and indicate where the market is headed.
Why Investors Are Chasing Women’s Sports
An untapped market, high growth potential, and lucrative returns are what investors seek, and the women’s sports industry has it all. The industry may still be in its early phase, but it's settling fast. Every day, valuations rise as more high-profile investors and brands step in to drive its growth.
