Women’s elite sports revenues are projected to hit a record $2.35 billion this year, according to Deloitte, more than triple the market size in 2022.
The consulting firm released its updated projections this week, highlighting the significant growth in women’s sports revenues across matchdays, broadcast deals, and commercial partnerships. Deloitte described 2024 as “a landmark year for women’s sports,” surpassing previous expectations and its initial forecasts.
Over the past year, several major developments have captured attention, including women Olympians at the Paris Games generating over 50% of social media engagement, despite their competitions being less featured than those of men. The WNBA secured a new broadcast deal amid record interest and viewership, while NWSL players reached a new Collective Bargaining Agreement (CBA). Additionally, AC Milan became the first European soccer club to offer automatic contract renewals for players who become pregnant in the final year of their contract.
The report also highlighted ongoing disparities within sports, markets, and even within leagues themselves.
Basketball and soccer are projected to continue being the highest revenue-generating sports, accounting for 44% and 35% of total earnings, respectively. North America (59%) and Europe (18%) remain the leading global markets.
However, even within these top-earning sports, significant discrepancies persist. FIFA’s annual Women’s Football Benchmarking Report, also released this week, revealed that the average salary for women soccer players is $10,900 a year. This figure, however, is skewed by the 16 global clubs that offer average salaries exceeding $50,000. As a result, many female soccer players around the world earn considerably less than the reported average.
The impact extends beyond just salary. Clubs that offer more than $5,000 in salary are also more likely to provide additional non-financial benefits, such as health insurance, housing allowances, and other perks, compared to those that pay less.
Additionally, clubs from FIFA’s Tier 2 and 3 leagues, labeled as “aspiring” and “emerging” leagues, were less likely to offer contracts lasting a year or more. FIFA also found a correlation between higher salaries and improved on-field performance.
Jennifer Haskel, the lead for Deloitte’s Sports Business Group, acknowledged the positive strides in women’s sports but emphasized that there is still much progress to be made.
“Women’s sports are challenging traditional norms and rewriting the playbook to shape the future of the industry,” Haskel noted. “As we look to 2025 and beyond, the real challenge will be for the sports industry, brand partners, and investors to adopt new approaches.”
She highlighted the importance of increasing strategic investment to build a professional global landscape and create a dynamic industry for future generations.
Haskel also stressed the need for women’s sports organizations to establish solid structures, develop clear investment plans, and define long-term goals within a rapidly changing global industry.