Global Revenue from Women’s Sport Predicted to Surpass £1bn in 2024, Says Deloitte
Forecasters at finance firm Deloitte have predicted that the global revenue generated by elite women’s sport will exceed £1 billion for the first time ever in 2024. This projection comes after a year of significant growth, boosted by events such as the FIFA Women’s World Cup. Football is expected to be the highest-earning sport, forecasted to generate £439 million, followed by basketball with a predicted value of £280 million.
The optimistic revenue forecast for women’s sport is based on matchday, broadcast, and commercial revenue. Deloitte’s prediction for 2023 was £771.8 million, while 2022 was estimated at £554.4 million. Commercial revenue, which includes club sponsorships, partnerships, and merchandising sales, is anticipated to contribute 55% of the total revenue. Broadcast revenues will make up 27% of the revenue, with matchday revenues accounting for the remaining 18%.
According to the report, North America is expected to be the largest geographical market in 2024, holding a 52% share, while Europe is projected to have a 14% share. These figures indicate the growing popularity and commercial viability of women’s sports globally.
This prediction from Deloitte comes at the end of a year that witnessed significant growth in women’s sport. Data from the Women’s Sport Trust revealed a substantial increase in women’s sports viewing figures in the UK, driven by events like the football World Cup. The recent Women’s Six Nations accumulated an impressive 10.4 million viewing hours, making it the most-watched edition to date. Other events that garnered substantial attention and viewership included the Solheim Cup in golf, the England women’s cricket team, and the netball World Cup.
Commenting on the exceptional growth of women’s sport, Jennifer Haskel, insights lead for Deloitte’s Sports Business Group, emphasized the increasing distinctiveness of women’s sport as a unique product. Haskel stated, Crucially, women’s sport is increasingly being viewed as a unique product that is becoming ever more distinct from men’s elite sport.
Notably, three years ago, Deloitte’s prediction for the worth of women’s sport was well under £1 billion (£800 million). The new forecast highlights the remarkable progress and potential of women’s sports on a global scale.
Looking ahead, the year 2024 promises to be a busy and momentous one for women’s sport, notably due to the Paris Olympics, which are expected to capture the world’s attention. The growing commercial success of women’s sports paves the way for further investment, development, and opportunities for athletes globally.
In conclusion, Deloitte’s prediction of women’s sport revenue surpassing £1 billion in 2024 is a testament to the rapid growth and increasing popularity of elite women’s sports. More viewers, increased commercial investment, and rising interest from audiences around the world have elevated women’s sports to new heights. As the Tokyo Olympics demonstrated, these events have the power to captivate and inspire, showcasing the incredible athletic prowess of women on a global stage. The future of women’s sport appears bright, with greater recognition and commercial prospects on the horizon.
