Women’s sport to make £1bn in revenue for the first time in 2024, says report
Finance experts Deloitte predict that global revenue generated by elite women’s sports will surpass £1bn for the first time next year.
They predict revenue will reach £1.02bn in 2024 after a year of growth featuring the Fifa Women’s World Cup in 2023.
Football is set to generate £439m, and basketball is predicted to be the second most valuable sport with £280m.
The forecast is based on matchday, broadcast and commercial revenue.
Deloitte’s revenue forecast for women’s sport for 2023 was £771.8m and £554.4m in 2022.
Commercial revenue, which includes club sponsorships, partnerships, and merchandising sales is predicted to contribute 55% of revenue, while broadcast revenues make up 27% and matchday revenues contribute the remaining 18%.
World Cup spurs growth
It’s been a truly transformational year for women’s sport as it started to see rapid growth.
Data suggests the summer World Cup – held in Australia and New Zealand- helped increase viewing figures in the UK. This year the Women’s Six Nations attracted 10.4m viewing hours making it the most-viewed edition. The Solheim Cup in golf, the England women’s cricket team and England at the netball World Cup also proved popular.
Jennifer Haskel, insights lead for Deloitte’s Sports Business Group, said there has been “exceptional growth in women’s sport across the globe” and added: “Crucially, women’s sport is increasingly being viewed as a unique product that is becoming ever more distinct from men’s elite sport.”
Three years ago, Deloitte predicted women’s sport was worth “well under $1bn” (£800m).
The news comes ahead of a busy 2024 for women’s sport with the Paris Olympics kicking off, developments in women’s football in England, the women’s Six Nations and athletics World Indoor Championships as well as a host of internationals for England’s cricket team.