In a historic financial forecast, Deloitte predicts that the market revenue from women's sports is set to cross the one billion dollar mark in 2024. This projection is backed by the rapidly rising popularity and viewership of various women's sports, compounded by lucrative commercial and broadcast deals.
According to Deloitte's TMT Predictions report, the global revenues for women's elite sports are estimated to reach 1.28 billion dollars. Significantly, commercial revenue contributes 55 percent of this total, buttressed by broadcast deals and matchday incomes. The last few years have witnessed an unprecedented growth of over 300 percent, as reported by Jennifer Haskel, insights lead for Deloitte’s Sports Business Group.
Leading the Pack
Women's soccer is leading the charge with an estimated revenue of approximately 555 million dollars. The recent FIFA Women's World Cup final between Spain and England saw an attendance of over 75,000 in Sydney, demonstrating the growing popularity of women's sports. Notably, the NWSL and WNBA in the United States have also significantly contributed to the rising global revenue.
Investment and Visibility
The distinct identity of women's sports, separate from men's professional sports, has attracted a surge of corporate investments. This influx of investment enables clubs and divisions to improve their marketing efforts, potentially leading to more visibility on television and streaming platforms. Moreover, commercial expansion is not without its challenges, as seen in the controversial European Super League proposal in men's football. However, women's sports, being in its nascent phase, may be more agile and adapt better to these challenges.
With the growing societal value placed on women's sports and the increasing importance of the North American and European markets, women's sports are set to carve their own path, marking a new era in the sports industry.