Elite women's sport is set to hit a major milestone in 2024 as global revenue is forecast to top £1bn for the first time, according to a forecast by financial firm Deloitte. This remarkable growth is attributed to the increase in attendance, TV ratings and increasingly lucrative commercial and television deals.
The expected global revenue of US$1.28 billion represents a significant jump compared to the figures recorded in previous years. Commercial revenue is expected to contribute 55% of total revenue, driven by broadcast contracts and match revenue.
This upward trajectory is evident in the recent successes of major women's sporting events. The FIFA Women's World Cup final between Spain and England, held in Sydney, attracted an incredible 75,784, while the tournament as a whole averaged an impressive 31,000.
Unexpected growth of interest in women's sports
Similarly, the Women's Cricket World Cup 2019 T20 was watched by more than 86,000 viewers as hosts Australia emerged victorious against India. These figures show the growing popularity and engagement of fans in women's sports.
Professional women's leagues also contribute to revenue growth. The Women's Super League (WSL) in England is increasingly using the grounds of the Men's Premier League for their matches. Arsenal, the leading WSL team, aim to fill the Emirates Stadium to its capacity of over 60,000 when they face Chelsea next week.
In the United States, the National Women's Soccer League (NWSL) and the Women's National Basketball Association (WNBA) lead the way in revenue generation. US women's soccer brings in $555 million, while basketball contributes $354 million.
In addition, the Women's Tennis Association (WTA) tennis tour competes equally with the men's ATP tour, further highlighting the financial strength of women's sports. As attendance, TV ratings and broadcast deals continue to grow, women's sports are poised for even greater success in the years to come. Pay special attention to the development of women's soccer and basketball.