Women’s sports are set to exceed $1 billion in revenue for the first time ever in 2024, according to a recent report by Deloitte.
Overall, the top tier of women’s sports leagues is projected to generate $1.28 billion next year. The women’s sports revenue figures include professional leagues from around the world, Division I sporting events, and the Olympics.
“There’s something here,” Deloitte’s Pete Giorgio said. “The capital markets agree, the investors agree, you’re seeing it in terms of money flowing into this space.”
Women’s Sports Revenue To Grow By 300% Since 2021
Interest from fans, broadcasting partners, and sponsors has driven revenue growth to new heights, according to the report. Commercial sponsorships and revenue ($696 million) are expected to make up 55 percent of the total $1.28 billion mark. Deloitte has also forecasted $340 million in broadcasting rights (27 percent) and $240 million in matchday revenues (18 percent)
According to one study, for every dollar spent by a corporate sponsor in women’s sports, more than seven dollars is generated in “customer value for that organization”. Some sponsors, including the LPGA Tour, reported up to 400% return in media value on their investment. As a result, LPGA doubled the number of active sponsors between 2019 and 2023, which surpassed 1,000 brands for the first time in June 2023.
Where Are Women’s Sports Growing The Most?
Deloitte believes that the rapid rise of commercial revenue and broadcasting rights will be major drivers of growth moving forward, especially in North America, which is expected to account for 52 percent of women’s sports revenue ($670 million). On the other hand, Europe is forecasted to account for only 14 percent ($181 million) of worldwide revenues in women’s sports.
Soccer is expected to be the most valuable sport, bringing in a whopping 43 percent ($555 million) of women’s sports revenue worldwide. Basketball is next on the list, driving $354 million in revenues (28 percent). Global competitions, including FIFA Women’s World Cup, LPGA Tour, and WTA Tour events are expected to contribute a combined $425 million (33 percent) in revenues in 2024.
For reference, the 2023 FIFA Women’s World Cup generated $570 million in revenue.
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