In a groundbreaking revelation, Deloitte, a leading consulting and accounting firm, projects that revenue from major women’s sports is poised to cross the $1 billion threshold in 2024, marking a remarkable threefold spike in just three years. This prediction comes as a beacon of hope for the world of “women’s elite sports,” encompassing professional leagues globally and high-level amateur competitions like NCAA Division I events and the Olympics. According to a recent report released by Deloitte, the expected revenue for women’s sports in 2024 is estimated to reach $1.28 billion, underscoring the rapid financial transformation within the sector.
A Striking Contrast with Men’s Sports
While this growth is undeniably impressive, it’s important to put it in context. Women’s sports revenue, even at $1.28 billion, still lags far behind the staggering revenues generated by men’s sports. For instance, the recent sale of the NFL’s Sunday Ticket package to YouTube for $14 billion over seven years exemplifies the immense financial gulf. Nevertheless, when compared to the state of women’s sports revenue in 2021, the $1.28 billion projection represents a remarkable threefold increase. This surge underscores the rising prominence and potential of women’s sports as a consumer product, signaling a shift in the landscape.
The 300% Surge: A Resounding Achievement
Deloitte’s global and U.S. sports practice leader, Pete Giorgio, expressed his enthusiasm for this remarkable growth, stating, “The total number is interesting, the fact it’s over $1 billion for the first time — but I think the 300% number is the real story.” Giorgio remains optimistic about the future, believing that this upward trajectory will persist and continue to gain momentum in the coming years.
A Bright Future for Women’s Sports
Recent events have showcased the growing appeal of women’s sports. The NCAA women’s basketball tournament’s national semifinals and final, featuring stars like Caitlin Clark and dominant teams like South Carolina and LSU, drew unprecedented interest from fans. Additionally, the National Women’s Soccer League’s expanded TV package, valued at $240 million over four years with broadcasting on CBS, ESPN, Prime Video, and Scripps Sports, signifies a significant step forward. Furthermore, the imminent launch of the Professional Women’s Hockey League with teams in major cities underscores the industry’s momentum.
“The capital markets agree, the investors agree, you’re seeing it in terms of money flowing into this space,” remarked Giorgio. The burgeoning financial success of women’s sports not only signals progress but also underscores the growing appetite for equality and recognition in the world of sports.
In conclusion, the rapid growth in women’s sports revenue represents a transformative shift in the industry, with a bright and promising future ahead. As the numbers continue to rise, so does the hope for greater equality and recognition in the world of sports.