Women's Sports Set to Propel Revenue Beyond $1 Billion in 2024
Written by Jade McCrary
Women’s sports are set to exceed $1 billion in revenue for the first time ever in 2024, which is a 300% growth rate from 2021. This is no surprise considering the 2023 FIFA Women’s World Cup generated $570 million in revenue. Gone are the days when women's sports were sidelined.
In recent years, women's sports have experienced numerous victories that highlight the growing recognition and appeal of female athletes. Notable milestones include the WNBA's expansion team in the San Francisco Bay area in 2025, the launch of the United States' first professional volleyball league in 2024 and groundbreaking initiatives such as the Las Vegas Aces' creation of the first-ever women-specific training facility. The NWSL's Kansas City Current also contributed to this wave by establishing a facility solely dedicated to a women's professional sports team. The historic 2023 LSU-Iowa NCAA women's basketball national championship game marked a memorable moment, becoming the most-watched title game in the history of the women's tournament.
This surge in women's sports has not only captivated audiences but also attracted the attention of major brands and venture capitalists eager to invest in its growing appeal. Companies such as AT&T, Deloitte, and Microsoft have become prominent partners, recognizing the immense potential.
Deloitte's latest report sheds light on the primary revenue streams set to propel women's sports into a billion-dollar industry. Commercial revenue, encompassing sponsorships and merchandising, is estimated at $696 million, followed by media rights at $340 million, and matchday tickets & concessions at $240 million.
Soccer and basketball are anticipated to lead the revenue charge. The NWSL secured a monumental media rights deal that will bring in $60 million for 2024 thanks to new broadcast partners Amazon Prime, Scripps, and ESPN/ABC. The influence of the U.S. women's national team, featuring talents like Alex Morgan and Trinity Rodman, has significantly raised awareness for the NWSL, enticing fans to support professional soccer players beyond the national team. Meanwhile, the WNBA is experiencing rapid growth, led by their new expansion team and record-breaking viewership numbers across TV and social media.
Global competitions, like FIFA Women’s World Cup, LPGA Tour, and WTA Tour events are also expected to make a substantial revenue contribution next year.
A pivotal factor in women’s sports growth is the fans' desire to connect more intimately with athletes and get to know them beyond the game. The increasing opportunities for athlete creators have empowered female athletes like Angel Reese, Caitlin Clark, Simone Biles, Coco Gauff, and Megan Rapinoe to not only gain the adoration of fans but also to drive significant awareness for their respective sports, marking a new era of visibility for women in sports.
Mark your calendars for the sporting events lined up in 2024 and be sure to tune in for the progression in women's sports!