Elite women’s sport anticipated to generate over US$1 billion in revenue in 2024

Global consultants Deloitte anticipate women's elite sports to generate US$1.28 billion revenue in 2024 - marking the first time that annual global revenues for women’s sport will have surpassed US$1 billion.

The predicted US$1.28 billion revenue is based on matchday earnings, broadcast and commercial revenue is "at least 300% higher" than their previous valuation three years ago.

Jennifer Haskel, insight lead for Deloitte's Sports Business Group notes "women’s sport is increasingly being viewed as a unique product that is becoming ever more distinct from men’s elite sport.

"This surge in fan and investor engagement is leading to new and improved opportunities for clubs and leagues."

The report also noted that commercial deals by leagues and teams would bring in the majority of the revenue at 55%, while broadcast would account for 27%.

Matchday revenue is expected to grow by 5% from 2023 and contribute 19% to the pool.

The two most valuable women’s sports are projected to be football (US$555 million, 43%) and basketball (US$354 million, 28%), while the largest geographical markets in 2024 are forecast to be North America (US$670 million, 52%) and Europe (US$181 million, 14%).

The report added "in 2024 women's elite sports will continue to be allocated additional prime time broadcast slots, making the women's events easier to find and watch."

The two most valuable women’s sports are projected to be football (US$555 million, 43%) and basketball (US$354 million, 28%), while the largest geographical markets in 2024 are forecast to be North America (US$670 million, 52%) and Europe (US$181 million, 14%).

Deloitte expects valuations for teams and leagues to continue to rise, with several teams’ values predicted to exceed US$100 million in 2024.

Meanwhile, major events and global competitions such as the FIFA Women’s World Cup and Women’s Tennis Association tour are expected to contribute US$425 million - 33% of the forecasted total.

In turn, Deloitte expects that in 2024 women’s elite sports will continue to be allocated additional prime time broadcast slots, making the women’s events easier to find and watch.

Paul Lee, Global Head of Technology, Media and Telecoms Research at Deloitte, shared “women’s sport is on an impressive growth trajectory. However, broadcasters, streamers and social media platforms will have an important role to play in showcasing major events that capture the interest of new and existing fans, while creating an experience that is memorable and impactful.

“The next step will be maintaining habitual viewers who loyally tune in to watch their favourite players, teams and competitions across the season. To do this, sports organisations and media businesses will need to continue to elevate the profile of women’s sport with prime-time broadcasts, as well as investing in digital platforms that make games accessible to all those who want to watch.”

Image: Sam Kerr shoots during the FIFA Women's World Cup 2023 semi-final between the Matildas and England. Credit: Damian Briggs.