Women’s sports have experienced a significant shift in recent years, with major broadcast deals, record-breaking audiences, and once-in-a-lifetime players taking the spotlight. The growth of women’s sports shows no signs of slowing down, as revenue generated by elite women’s sports is projected to surpass $1 billion in 2024, a 300% increase from 2021. This surge in popularity has led to bigger media deals and increased valuations for women’s sports teams.
However, despite these achievements, there are still obstacles that hinder the growth of women’s sports. Renie Anderson, executive vice president and chief revenue officer for the NFL, believes that the primary obstacle is the need to amplify the athleticism of women in sports. She emphasizes the importance of highlighting the greatness in women’s sports and giving it the attention it deserves.
Jessica Berman, commissioner of the National Women’s Soccer League, points out that women’s sports are 100 years behind men’s sports and faces challenges in building sustainable growth and commercial viability. She emphasizes the need to balance the expectations for fast growth with the reality of the situation.
Cathy Engelbert, commissioner of the Women’s National Basketball Association, highlights the undervaluation of women’s sports assets as a major obstacle. The current models for sponsorship and advertising are tailored to men’s sports and fail to account for the unique aspects of women’s sports, such as diversity and community impact.
Jessica Gelman, CEO and founder of the MIT Sloan Sports Analytics Conference, identifies the lack of available data on performance as a major obstacle. She believes that storytelling enhanced by performance data can create interest and drive viewership. To address this issue, the MIT Sloan Sports Analytics Conference has donated to Sports-Reference to support the addition of college women’s data dating back to 1987.
Jayna Hefford, senior vice president of operations for the Professional Women’s Hockey League, highlights the challenges in securing prime broadcast windows and consistent media coverage for women’s sports. Limited visibility has made it difficult to attract brand support, despite the potential for lucrative returns.
Haley Rosen, CEO and founder of Just Women’s Sports, criticizes legacy platforms for not adequately supporting women’s sports and prioritizing men’s sports in their coverage. She emphasizes the need to meet sports fans where they are, engage them through daily content, and make it easy and fun for them to be women’s sports fans.
Mollie Marcoux Samaan, commissioner of the Ladies Professional Golf Association, emphasizes the obstacles of investment and exposure. While the LPGA has made significant progress in recent years, there is still a need for more investment and partnerships to further grow women’s golf.
To further expand the reach of women’s sports, industry leaders suggest leveraging milestone events and turning them into part of a larger movement. Katrina Adams, former pro tennis player and ex-CEO of the United States Tennis Association, believes that professional athletes can use their platform to speak up about gender equality in sports. Pamela Duckworth, head of Fubo Studios at FuboTV, suggests using attention-grabbing sports moments to tell compelling athlete stories and connect with broader audiences.
The growth of women’s sports can also be supported through marketing strategies that build household names, create rivalries, and promote games or events of consequence. Amy Howe, FanDuel CEO, highlights the importance of positioning star athletes in parity with their male counterparts to attract mainstream attention.
The introduction of name, image, and likeness (NIL) regulations has the potential to further fuel the growth of women’s sports. It offers female athletes the opportunity to make a living legally and build their own brands. However, there are still concerns about how NIL deals might impact team dynamics and long-term development.
Despite the challenges that remain, women’s sports are on an upward trajectory. The increased investment, media attention, and support from fans are driving the success of women’s sports. As more milestones are achieved and more athletes become household names, the future looks promising for women in sports.
