Brands urged to reach for the stars of women's sport

Marketers and media companies must get in shape to tap into the global women’s sports sector, which is projected to grow in value to $256.67bn by 2030, up 76% from an estimated $145bn in 2023, or risk being dumped on their backsides.

Europe and the US remain the largest revenue-generating regions, although interest is growing globally, with a recent study finding strong interest in women’s football in Saudi Arabia.

However, it is the US women’s sports sector that is leading the way, projected to grow 250% in value from 2024 to 2030, reaching $2.5bn, driven by surging fandom, record viewership numbers, and increasing sponsorship deals.

That is according to a new McKinsey report, entitled “Closing the monetisation gap in women’s sports”, which shows the US audience for women’s sports is not new – it is primarily existing men’s sports fans with a growing appetite for women’s sports.

In fact, about 80% of sports fans follow both men’s and women’s sports, with the women’s sports fans male being predominantly male (63%) but with a significant female component (37%).

Even so, 57% of women’s sports fans are considered “new” fans, who have started following in the past five years, creating a large addressable audience for brand owners.

Women’s sports fans also value authentic connections to female athletes; avid fans are 27% more likely to purchase from brands endorsing popular female athletes.

Meanwhile, broadcast viewership for women’s sports reached approximately 160 million viewer hours in 2023, up 130% from 2021, with the growth in viewership and fandom attracting higher bids for media rights, with the US National Women’s Soccer League, for instance, seeing a 4,000% increase in the average annual value in 2024 alone.

Report author Ben Vonwiller said: “Women’s sports have crossed an inflection point and enjoy a significant latent fan base and commercial potential.

“While women’s sports today represent less than just 2% of the sports market in the US, the sector is projected to grow 250% to generate $2.5bn in value for rights holders by 2030.

“To capture this potential, stakeholders will need to overcome core challenges such as finding ways to connect with fans whose attention is fragmented or who lack access to televised and live games.

“Early movers in women’s sports have a chance to support the exciting new athletes of today while helping ensure their brands are deeply connected to the superstars tomorrow.”