For the better part of the last century, women’s sport has been underestimated, overshadowed, and underfunded. Despite the countless achievements and the unwavering passion of female athletes, women's sport was often seen as a niche interest, undeserving of the same attention and investment as men's sport. However, the tides are changing, and the recent statistics highlight a movement that is impossible to ignore.
In the recent findings of the Sports Innovation Lab x Klarna study, the women’s sports merchandise market is valued at a staggering $4 billion per year and is a testament to the growing popularity and commercial viability of women’s sport. This figure alone should eradicate any lingering doubts about the market potential. It's a powerful indicator that fans are not only watching but are also willing to invest through buying merchandise. This financial backing is crucial for the growth and sustainability of women's sports leagues and organisations.
It was also found that 30% of women’s sport fans are purchasing 2x-4x per year and 10% are purchasing five or more times per year. It’s clear that there is a committed and enthusiastic consumer base.
The rise of female athletes producing their own merchandise lines or merchandise lines with global brands is one of the most exciting and revenue generating parts of the women’s sports movement at present. This trend not only empowers athletes by providing an additional revenue stream but also strengthens their personal brand and deepens their connection with fans. Merchandise lines allow female athletes to showcase their personality, style, and values, creating a more intimate and engaging fan experience. For global brands, collaborating with female athletes to create these lines has proven to be highly beneficial. These partnerships boost sales, enhance brand visibility, and tap into the loyalty and enthusiasm of the athletes’ fan bases.
New Balance’s revenue growth of +23% year-over-year coinciding with the launch of their Coco Gauf G1 shoe collaboration is a compelling example. This success story highlights how female athletes can drive significant commercial success for global brands. When companies invest in and celebrate female athletes, they are rewarded with not just increased sales but also a stronger connection with a diverse audience. For female athletes, having their own merchandise lines means greater financial independence and a stronger platform to advocate for the causes they believe in. This dual benefit underscores the importance of supporting female athletes not just on the field, but in all aspects of their professional journey.
Some other note-worthy findings from the research paper:
The National Women’s Soccer League (NWSL) is set to bring in $240 million from 2024 to 2027 as part of the largest media deal in women’s sports history. This deal will increase annual NWSL media rights from $1.5 million to a remarkable $60 million. Such a leap in media rights revenue not only underscores the growing viewership but also reflects a recognition of the intrinsic value that women’s sports bring to the table. This deal is a monumental step toward parity, offering female athletes the exposure and financial support they have long deserved.
According to SponsorUnited, women’s sports are poised to be the driving force behind pushing the total U.S. sports sponsorship market beyond $8 billion. The Women’s National Basketball Association (WNBA) sponsorship for the 2023 season alone is estimated to be worth $860 million, with 307 active sponsorship agreements. This surge in sponsorship is a clear signal that brands are waking up to the influence and reach of women’s sports. Companies are realizing that aligning with women's sports not only boosts their corporate image but also connects them with a passionate and growing fan base.
In 2023, the LPGA witnessed the highest search volume in the past five years, particularly during the week of July 4th. With athletes competing for more than $101 million in official prize money—the highest total in the Tour’s history—and the premiering of live, primetime coverage on NBC for the third and final rounds, it is evident that the appetite for women’s golf is at an all-time high. Fans demonstrated their voracity by actively searching for and consuming all available content around the tournament, showing a deep engagement that sponsors and broadcasters can no longer afford to overlook.
For too long, women's sports have been underestimated and undervalued. But these statistics and trends tell a different story—a story of actual growth and un-dreamt of potential. As we move forward, it is crucial that we continue to support and invest in women's sport.
The Women's Sports Alliance is committed to pioneering the commercial growth of female athletes. The journey has been long, but the destination is within sight. Women's sport is no longer in the shadows; we are stepping into the spotlight, and the world is finally taking notice. Let’s keep pushing forward, breaking barriers, and proving that women's sport is not just viable—we are essential.