Women's elite sports are projected to reach a significant milestone, with expected revenues crossing the $1 billion threshold in 2024, according to a report by Deloitte. The estimate, standing at $1.28 billion, indicates a remarkable threefold increase from the figures recorded just three years ago. Even though this amount is sizable, it still pales in comparison to the earnings from men's sports, as the recent $14 billion agreement for the NFL's Sunday Ticket package demonstrates. However, the substantial growth—a 300% increase—highlights the rising prominence and potential of women's sports as a consumer product.
Delving into specific events, the NCAA women's basketball tournament's national semifinals and final in the previous year garnered unprecedented interest, showcasing the popularity of women's sports. The National Women’s Soccer League secured a lucrative TV package worth $240 million over four years, expanding the visibility of women's soccer with broadcasts on major networks. The Las Vegas Aces defending their title with over 889,000 TV viewers for Game 4, more than double the viewership of the previous season, is evidence that the WNBA also saw a rise in viewership.
Furthermore, the upcoming launch of the Professional Women’s Hockey League with teams in prominent cities underlines the growing investment and interest in women's sports. Deloitte's Pete Giorgio emphasized the momentum in this space, stating that "the capital markets agree, the investors agree, and you're seeing it in terms of money flowing into this space."
Anne Blaschke, an associate lecturer at the University of Massachusetts Boston, highlighted the broader implications of increased exposure to high-level women's sports. She emphasized that showcasing women in sports provides a public display of strength, perseverance, and competitiveness that goes beyond traditional roles, offering a platform for remarkable achievements and challenging stereotypes.
The upward trajectory, coupled with notable broadcasting deals and expanding leagues, indicates a promising future for the growth and prominence of women's sports in the world of athletics.