Revenue from major women’s sports is set to exceed $1 billion for the first time in 2024, experiencing a staggering 300% increase since 2021, according to a report by leading consulting and accounting firm Deloitte. The report highlights that women’s elite sports – including professional leagues worldwide, high-level amateur competitions like NCAA Division I events, and the Olympics – are projected to generate an estimated $1.28 billion in revenue this year.
While the $1.28 billion figure still pales in comparison to the revenues generated by men’s sports, it represents a significant milestone. The report indicates the rising consumer appeal and potential future growth of women’s sports as a product. Deloitte’s Global and U.S. Sports Practice Leader, Pete Giorgio, emphasized that the standout statistic is the 300% increase, expressing optimism for further growth.
Events such as the NCAA women’s basketball tournament, which showcased national player of the year Caitlin Clark, undefeated South Carolina, and eventual champion LSU, garnered unprecedented interest. Additionally, the National Women’s Soccer League recently agreed to an expanded TV package worth $240 million over four years, ensuring matches will be broadcast on major networks like CBS, ESPN, Prime Video, and Scripps Sports. Furthermore, the upcoming launch of the Professional Women’s Hockey League, with teams based in New York, Boston, Minnesota, Montreal, Toronto, and Ottawa, further exemplifies the growing momentum in women’s sports.
Giorgio affirms that there is significant potential in this sector, evidenced by capital markets and investors increasingly pouring money into it. He highlights the consensus among investors that women’s sports present a valuable opportunity for growth.
As the revenue generated by women’s sports surpasses the $1 billion mark, it is clear that the future holds immense possibilities for the industry. Although still trailing behind men’s sports in terms of revenue, the substantial increase in revenue signifies a promising trend. With more opportunities for exposure, increased television coverage, and expanding leagues, women’s sports are poised for continued growth and greater recognition on the global stage.
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