What the Rise in Women’s Sports Could Mean for the Economy
We’re still riding the excitement of the Paris Olympics (and we will be for a while!)—how about you?
This historic celebration achieved full gender parity for the first time in Olympic history, where women dominated on the world stage:
Of Canada’s 27 medals, 17 were won by women (18 with one mixed gender event), who also set the majority of our broken records and world bests
If American women were their own nation, they would have won the third most medals, behind only the U.S. and China
But the rise of women athletes and elite sports didn’t start here. From record-breaking viewerships—like the 2024 NCAA Women's Basketball Championship drawing in 18.9 million viewers, surpassing the men’s tournament at 14.8 million, or the 2023 FIFA Women’s World Cup final attracting 13.21 million viewers in the UK alone—to the major influence it’s having on our next generation, the world of sports is shifting.
This momentum means big things off the field, such as an array of economic opportunities and impacts. The surge in popularity of women’s sports is not just a win for gender equality; it’s a game-changer for the global economy.
Why Women’s Sports Are on the Rise
But first, let’s take a moment to look at what’s driving this sector's success. The rise in women’s sports can be attributed to a combination of social, cultural, and economic factors that have converged to create her moment:
Increased Media Coverage: As more networks, streaming services, and digital platforms provide airtime and online space for women’s sports, they’re reaching a broader audience than ever before. Media coverage of women’s sports has nearly tripled since 2021—but that’s only to 15%. Though there’s been movement, there’s still much more to go.
Changing Social Norms: Society’s evolving views on gender equality have led to greater support for women in sports. The fight for equal pay, representation, and respect in sports has gained momentum, leading to policy changes and more equitable treatment of female athletes.
Role Models and Representation: You can’t be what you can’t see. As women’s sports gain popularity, female athletes become role models for the next generation, inspiring more girls to take up sports. Think: Simone Biles, Caitlin Clark, Nelly Korda, and many, many more remarkable women.
Corporate and Brand Support: Companies are recognizing the value of authentic and meaningful messaging, and women’s sport is proving to be a platform to deliver just that. Sponsorship deals and partnerships with women’s sports teams and athletes are becoming more common, and research has found that women’s sport is perceived to be more progressive and inspiring, less money-driven, more family-oriented, and cleaner than men’s sports.
Global Movements and Advocacy: Global movements advocating for women’s rights and gender equality have also played a role in the rise of women’s sports. Campaigns like #EqualPlay and organizations like the Women’s Sports Foundation have brought attention to the disparities in sports and pushed for greater investment in women’s sports at all levels.
Technological Advancements: Thanks to the abilities of streaming and social media, women’s sports have become more accessible and engaging to a global audience, helping to build larger, more diverse fan bases.
These factors, among others, have primed an ideal environment for women’s sports to flourish. As this momentum continues, the economic benefits rise.
Boosting Revenue Streams
The growing popularity of women’s sports is opening up new revenue streams for broadcasters, advertisers, and sporting organizations. With events like the FIFA Women’s World Cup, WNBA games, and other major women’s sporting events drawing millions of viewers worldwide, advertisers are increasingly seeing value in sponsoring these events. This surge in interest translates into higher ad revenues, larger broadcasting rights deals, and more lucrative sponsorship contracts.
From 2023 to 2024, the number of sponsorships in women’s professional sports increased by more than 22% YoY across leagues, teams, and athletes.
Take the 2023 FIFA Women’s World Cup, for example, which not only set new viewership records with the final attracting 13.21 million viewers in the UK alone, but advertisers were also willing to pay premium prices for airtime. The total funding package for media rights increased to $152 million—3x the amount paid in 2019 and 10x more than in 2015.
Such events create an economic ripple effect that trickles down into increased merchandise sales, higher ticket revenues, and boosted tourism in host cities—contributing significantly to the broader economy.
Serving Women Consumers
Women’s sports have the potential to tap into a vast and often under-served market: women consumers. Considering women drive 85% of all consumer spending, this creates significant opportunity as brands are increasingly catering to women audiences with products, campaigns, and content that resonate with them. This shift not only drives consumer spending but also empowers women to see themselves as key economic players.
Image: @thesportsbrapdx
See: The Sports Bra in Portland, Oregon, a bar that only plays women’s sports on its TVs and pulled in nearly $1 million in revenue in its first eight months of business.
Moreover, women athletes are becoming powerful influencers, driving trends in fitness, fashion, mental health, and lifestyle. This influence extends to consumer behavior, where women are more likely to support brands that invest in women’s sports. The result is a virtuous cycle where investment in women’s sports leads to greater brand loyalty and higher consumer spending.
Driving Gender Equality in the Workplace
Beyond the playing field and revenue generation, the rising visibility of women’s sports inspires a new generation of women athletes, leaders, and entrepreneurs. As sports is traditionally a male-dominated industry, this shift helps challenge stereotypes, increase the visibility of women role models, and foster a culture of empowerment, inclusion, and diversity.
Women who excel in sports often develop leadership and advocacy skills that translate to professional success. See: a study shows that 94% of C-suite women have played sports, illustrating how participation can propel them into thriving business careers, thanks to their competitive nature, determination, and strong work ethic.
The economic impact is significant, with growing investment in women’s sports underscoring the financial potential of women-led initiatives.
A Win-Win for All
The rise of women’s sports isn’t just a fleeting trend or stops only at athletic achievement—it's about shifting societal norms, challenging stereotypes, and driving systemic change; it’s a powerful economic force with the potential to reshape industries and unlock new opportunities for growth.
As women athletes gain recognition and success, they pave the way for greater gender equality across all sectors. As more stakeholders recognize the value of investing in women’s sports, we can expect to see even greater economic benefits, from increased consumer spending to more equitable workplaces.
For investors, businesses, and society as a whole, supporting women’s sports is truly a win-win.
In the meantime, you’ll find us excitedly waiting to kick off the Northern Super League season in 2025, Canada’s professional women’s soccer league (cheering especially loud for our home team, the Calgary Wild FC!).
Join us in driving the conversation forward. If you’re as passionate about gender equality and economic growth as we are, join our community to stay updated on insights or get in touch with us and let’s plan to go to a future NSL game together!