In 2023, women’s sports witnessed a significant turning point, driven by substantial new broadcast contracts, exceptional talents, and unprecedented viewership figures that reshaped the sports landscape.
From the widespread enthusiasm surrounding Caitlin Clark in Iowa to the remarkable turnout of 92,000 spectators for women’s volleyball in Nebraska, women’s sports have never commanded such prominence.
This momentum shows no signs of waning.
Projections from Deloitte suggest that revenue generated by elite women’s sports could exceed $1 billion this year, marking a staggering 300% surge from 2021.
The escalating media agreements and increased sponsorship opportunities are driving remarkable valuations for women’s sports, with numerous teams anticipated to surpass the $100 million mark in value in 2024, according to Deloitte.
The previous year witnessed groundbreaking media agreements for women’s sports, as both the NCAA and NWSL secured historic deals. Various investors, ranging from private equity firms to celebrities, are eager to participate in this burgeoning sector.
Nevertheless, significant challenges persist, particularly concerning issues such as pay parity, access to prime-time slots, and the availability of comprehensive historical data.
CNBC conducted a survey involving prominent female executives in the sports industry, including league commissioners, team owners, and CEOs, to gather insights on the status of women in sports. Some responses have been edited for clarity, style, and brevity.
What do you see as the primary obstacle hindering the growth of women’s sports?
Renie Anderson, the NFL’s executive vice president and chief revenue officer, underscored the imperative to accentuate the exceptional athleticism displayed by female athletes as an opportunity rather than a challenge. Rather than being taken aback by the prowess of women in sports, she advocates for integrating messages of greatness when celebrating achievements in men’s sports. While the greatness exists, it often doesn’t receive the recognition it merits.
The trajectory of women’s sports reached a pivotal juncture in 2023, driven by significant advancements in broadcast agreements, the emergence of extraordinary talents, and unprecedented levels of audience engagement.
From the widespread enthusiasm surrounding Caitlin Clark in Iowa to the packed arena of 92,000 fans cheering on women’s volleyball in Nebraska, women’s sports have never commanded such prominence.
And this upward trajectory shows no signs of decelerating.
According to estimates from Deloitte, revenue generated by elite women’s sports could exceed $1 billion this year, marking a remarkable 300% surge from 2021.
The influx of larger media contracts and heightened sponsorship interest is propelling record valuations for women’s sports, with the values of several teams projected to surpass $100 million in 2024, as per Deloitte.
The previous year witnessed unprecedented media deals for women’s sports, as both the NCAA and NWSL secured groundbreaking agreements. Investors, spanning from private equity entities to notable celebrities, are eagerly seeking opportunities in this burgeoning sector.
However, substantial efforts remain imperative, particularly in addressing issues such as pay equity, equitable access to prime-time slots, and the necessity for more comprehensive historical data.
CNBC conducted a survey encompassing influential female executives in the sports domain, including league commissioners, team owners, and CEOs, to gather their insights on the status of women in sports. Some responses have been refined for clarity, style, and brevity.