London (FBC) Global earnings from women’s sports will surpass $1 billion for the first time in 2024 due to an explosion in popularity, according to financial experts Deloitte.
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New soccer revenue from the highly successful World Cup in Australia and New Zealand in 2023 is expected to reach $555 million in 2024, up from a total of $1.28 billion in 2024.
But more than 50 percent of women’s sports revenue is still in North America, despite the growth of women’s soccer in Europe.
Deloitte expects valuations for teams and leagues to increase, with several team values predicted to exceed $100 million next year.
Jennifer Haskell, head of the Deloitte Sports Business Group comments: “Over the past few years we have seen exceptional growth in women’s sport around the world, with significant improvements in business value, which is driving investor interest.
“Crucially, women’s sport is increasingly being seen as a niche product, distinct from men’s elite sport.
“This fan and investor engagement is leading to new and improved opportunities for clubs and leagues, including larger commercial partnerships, increased attendance and bigger match days.”
The growing popularity of women’s sports is expected to lead to more prime-time broadcast spots and visibility on streaming platforms.
Commercial revenue still accounts for more than 50 percent of total revenue, but that percentage is shrinking due to large distribution deals and matchday attendance.
© 2023 AFP
