Women’s sports need more development! Women’s sports projects are rising gradually
According to a recent estimate, revenues for women’s sports are predicted to increase by 15% by 2026. The study indicates a significant business opportunity for organizations wishing to fund women’s sports projects. Female athletes have seen a watershed moment in recent years in several of the biggest markets in the globe.
Before a landmark lawsuit in women’s sports and the US House vote in 2022 saw it become a mandate to balance pay between genders, the US Women’s National Soccer Team was paid less than the significantly less dominant men’s squad, despite decades of success. The Lionesses’ triumph at Euro 2022, meantime, brought female sports to a level of national prominence in the UK that had never before been achieved.
The success of women’s sports on the field is fueling financial growth behind the scenes even as these profound transformations take place. As fan engagement rises, broadcasters are airing more games, and prospects for advertisers are anticipated to soar as well, fueling the growth trend going forward. PwC predicts that as a result, the market will experience steady expansion over the following three years.
The PwC Global Sports Survey surveyed 507 senior sports executives from 43 different countries. It analyzed the market forces that are predicted to change the sports industry over the next three to five years and examined how these perceptions have changed over the past year.
Overall, it was discovered that executives are extremely optimistic about the future as they finally attempt to move past the crippling effects of the lockdown period. The outlook for growth has improved in the past year from 5 to 6.5%. Increased television rights, the restart of ticketing and hospitality, and rising gambling-related revenues are the main revenue generators of the improving growth.
After the challenging few years, brought on by the Covid-19 outbreak, Clive Reeves, Global Sports Leader at PwC, stated that the sports industry is on the road to recovery and it is wonderful to see in our poll results that the spirit of optimism has returned. Growth estimates are higher than they were in past years because fans are now back in the stadiums and there is considerable consumer demand for sports content.
This perspective brightened over a longer time span. In the upcoming three to five years, more than 70% of executives anticipate that revenues will increase by more than 15%. This prediction is backed up by the increasing interest from media outlets and sponsors, who have forged a number of stronger alliances in the last year in an effort to realize the benefits that women’s sport presents.
Therefore, the majority of sports executives see the women’s sports market as being essential to the expansion of the business in the future. According to PwC, institutional investment is currently taking a more cautious wait-and-see strategy rather than following this trend.
But given that women’s sports are already reaching a wider audience, thanks to increased live coverage, commercial partners who respond first may be setting themselves up for higher sales impacts in the future. 42% of executives cited sponsorship as one of the best options because it may increase access to a female audience and foster positive brand connotations.
A strong flywheel can be set in motion by increasing the visibility of women’s sport on high-reach networks. In order to entice business partners and investors who are eager to support women’s sport and give the necessary financial resources to enable growth at all levels, it is imperative to expand reach and increase fandom.
The recent major investments made in sports leagues and teams by private equity firms and sovereign wealth funds serve as an example of this potential impact. According to a PwC survey, 83% of senior sports executives think institutional investment in this space will increase until 2028.