Sponsorship of women’s sport set for continued growth, new research suggests
A new survey conducted by the Women’s Sport Trust (WST) has revealed that 80% of brands are likely to invest in sponsoring female athletes in the near future.
Currently, most revenue in women’s sport comes via commercial channels such as brand sponsorships, business partnerships, and merchandise sales.
This news comes as the women’s sports industry experiences a widespread increase in recognition, with young WNBA star Caitlin Clark being declared Time Magazine’s Athlete of the Year for 2024.
Sports News Blitz writer Shameeka Voyiya reports on the story.
Massive growth in profitability
Recently published research by the WST shows that brand interest in women’s sport is set to continue growing.
Indeed, four out of five key decision-makers in the world of branding say they are likely to invest in some form of women’s sport sponsorship in the next three years.
This aligns with reports suggesting that women’s elite sport generated over $1 billion in global revenue for the first time in 2024, a marked increase in the industry’s profitability.
Women’s football, individual female athletes, and domestic sports clubs in general are seen as the most attractive properties for prospective sponsors.
READ MORE: WNBA star Caitlin Clark named TIME’s Athlete of the Year for 2024
Empowering women's sport
Tammy Parlour, chief executive of the WST, is optimistic about what the increasing interest means for female athletes around the world.
“There is undoubtedly an incredibly positive story to tell around women’s sport properties,” said Parlour.
“The fact that existing sponsors are seeing the value of their women’s sport sponsorships and want to continue their investment is a real win for the industry.”
Growing stakeholder investment and brand support can be attributed to wider societal shifts around female empowerment and gender parity.
Ultimately, as visibility in women’s sport rises, sponsorships become more valuable and an increasingly attractive investment opportunity for brands, and that can only be a good thing.
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