Women’s sports have seen a sharp growth in popularity and revenue to $1 billion globally in 2024. This growth has attracted the attention of different stakeholders in the market such as sponsorships, media rights and merchandising. Many investors and brands, for example, HFM, a leading forex broker, are closely monitoring this growth, recognizing the business opportunities that come with associating with this dynamic market. This increase in interest is backed up by record-breaking attendance at big events for instance the Paris Olympics and the WNBA which shows that women’s sports are not only here to stay but are indeed on the rise in the world of sports and entertainment.
The 2024 Paris Olympics was a significant event in the integration of gender in sports by having an equal number of male and female athletes. This was a great opportunity to showcase the abilities of women athletes and attracted a global audience in the process of realizing the profitability of women’s sports. The WNBA also had a record viewership, a trend that shows that people are increasingly interested in diverse sports events. These successes have been realized in the financial aspect as women’s sports have witnessed a growth of 300% in global revenue within the last three years according to recent statistics.
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This financial boom is not only in ticketing or broadcasting. Women’s sports sponsorships have increased over the years, and brands are now targeting this untapped market. A Deloitte survey established that 99 per cent of brand decision-makers have expanded their spending on women’s sports over the past five years. The reason for this is not only the growing number of viewers but also the specific behaviour of female fans. Studies show that women are more likely to buy sports-related products and engage with their favourite clubs and athletes on social media, thus, creating a large and engaged audience for the brands.
One area that has particularly caught social media attention is the women’s sports fans. These fans often provide a domino effect, commenting and encouraging people to comment, which in turn increases the visibility of the sponsor. This viral phenomenon makes women’s sports interesting to brands that want to increase their visibility. Moreover, the athletes themselves have become role models and have started using their positions to influence social change, advocate for equality and inspire young people. All of these provide more benefits to sponsors as cooperating with such athletes may help improve the brand’s image.
However, from the financial and marketing perspectives, the effects of investing in women’s sports are great. According to the study, 85 per cent of women who had participated in sports activities argued that the skills they learned from the field have been important in their careers. These skills include teamwork, resilience, leadership and discipline that can be easily applied in the workplace to make women successful in other professions. Therefore, by supporting women’s sports, companies and institutions are helping to promote these qualities in the young generation and, in turn, inspire them to be leaders of the future.
