The money game
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The women's sports industry is predicted to break the $1 billion barrier for the first time in total revenue this year — a 300% increase from 2021, writes Axios' Analis Bailey.
Why it matters: The main driver of cash coming into women's sports is commercial sponsorships, followed by media rights and matchday revenues (ticket sales), per Deloitte.
- For women's sports, which have historically been undervalued by networks in terms of media rights, sponsorships have proven critical.
- "We have over 100 advertisers across 50 categories putting money into women's sports, not because it's the right thing to do, but because it's good for business," said Disney/ESPN Advertising president Rita Ferro (full interview).
Case in point: Nielsen's Sports business found that the rights to the women's Super League in Europe were undervalued by $16 billion, Nielsen chief product officer Deirdre Thomas told Axios at the Women's Sports House (full interview).
Driving the news: Brands are endorsing more college women athletes than ever before, thanks to new name, image, and likeness (NIL) rights that have revolutionized commercial opportunities for students.
- Of the top 100 athletes ranked by total NIL deals in 2023, 52 supported women and 48 supported men, per SponsorUnited.
- "I think brands have an incredible responsibility but also an opportunity to help grow the game and grow women's sports," UCLA Bruins guard Kiki Rice told Axios at the Women's Sports House (full interview).
What to watch: "The Money Game," an upcoming docuseries co-produced by Axios Entertainment, Campfire Studios and Shaquille O'Neal, tracks the revolutionary impact of NIL policies on college sports.
- The show debuts this fall on Amazon Prime.
What's next: Axios rounded up some of the biggest women's sporting events through the rest of the year and into 2025, including the WNBA Commissioner's Cup in June and Tour de France Femmes in August.
