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While many tend to discount women’s pro sports, they are only continuing to grow in popularity and profitability. In 2024, the global revenue for women’s professional sports surpassed the billion-dollar mark for the first time in history.
Organized sports for women didn’t form until the early 20th century; the Paris 1900 Olympics were the first with female representation.
However, it wasn’t until 1972, with the passing of Title IX, that organized sports began to be recognized on a similar scale to men's. The clause stating that federally funded educational institutions must “provide equal opportunities for men and women” was extremely influential as the pipeline of collegiate to professional sports is pivotal.
The revenue generated by professional women’s sports can be divided into three main categories: commercial, broadcasting, and matchday. Women’s soccer is highly profitable, responsible for 43% of total revenue, followed by basketball at 28%. The majority of total revenue is commercial, as sports broadcasting is still heavily male-dominated. Commercial revenue encompasses everything from sponsorships to merch sales to retail, licensing, etc.
Sponsorships can be very lucrative; multiple sponsors of the Ladies Professional Golf Association (LPGA) have achieved a 400% return on their investment. Sponsoring women’s sports can positively affect a company's brand image through customer association of strength and empowerment with the brand. This aspect is essential in the continuous push for greater representation and visibility of female sports, as consumers are more likely to positively associate a company that supports women’s sports than a company that supports men’s.
One of the largest and pivotal sponsorships in the industry was Procter & Gamble’s $200 million sponsorship to the U.S. Women’s National Soccer Team. The Team also received sponsorships ranging from $1-10 million from Secret Deodorant, Dick’s Sporting Goods, and Athelta. Additionally, the WNBA received sponsorships ranging from $5-10 million from PepsiCo, Microsoft, Mastercard, and The Players’ Tribune. Major sports matches and tournaments are also a large revenue driver. The 2023 FIFA Women’s World Cup, hosted in Australia and New Zealand, netted over $300 million in sponsorship revenue and $570 million in total revenue, breaking history with almost 2 million attendants across the 64 games.
However, despite these overarching gains for the women’s sports industry, there is still a monumental pay disparity between female and male professional athletes. For example, the average WNBA salary is around $100,000, while the average NBA salary is around $10 million. To combat this, there are many organizations, such as the Women’s Sports Foundation, through athletic programs, coaching and scouting, and networking opportunities.
There have been other advancements, such as the U.S. Open hosting the first sporting event in the world to award equal prize money to both men and women. Along with this, the Women’s Tennis Association became the first international sports body to offer twelve months of paid maternity leave for players. Additionally, with the help of Saudi Arabia’s Public Investment Fund, athletes have greater access to fertility treatments.
The remarkable growth of women’s professional sports marks a significant shift in the sports industry. While challenges like pay disparity and limited media coverage persist, strategic sponsorships and increased visibility drive momentum. This upward trajectory signals a new era of equality and opportunity in professional sports.
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