Riding the Wave of Sponsorship in a New Era of Women’s Sports.
We can’t all be Katie Ledecky, the most decorated US swimmer of all time with 28 Olympic and World Championship medals and counting. But we can share in success stories like hers, or better yet, write our own success stories through sports sponsorships.
The global sports sponsorship market is projected to reach $108 billion by 2030, up from $66 billion in 2022. Women’s sports are fueling much of this growth. Attendance records were smashed at the NCAA basketball tourney and the FIFA Women’s World Cup. Caitlin Clark became the NCAA Division #1 all-time leading scorer in men’s and women’s college basketball earning her a $28M endorsement deal with Nike and a signature shoe. Names like Serena, Simone, Aliyah, and Danica rarely need surnames for recognition.
Women’s sports are expected to reach record viewership and $1billion in revenue in 2024. Millions of eyeballs are being focused on sports coverage, social media, and events coverage presenting huge opportunities for brands.
There’s no doubt that the time is right for sports marketing and sponsorships. There are big rewards to be had for aligning with a cause, a personality or a team. Ad agencies like MLB Creative are jumping on opportunities for greater reach and target market involvement for clients.
Full disclosure: Yep, we’re a women-owned agency so we’re running the bases on this one. But as avid sports fans, we’ve followed male dominated sports for most of our lives. The Bruins, Panthers, Heat, Pacers, Bucs, Hurricanes, Colts, Cubs – it’s time to talk about sponsorships for women’s sports.
Leveling the Playing FIeld (Literally)
There’s been a huge shift towards equity in sports. Division 1 college athletic programs continue to spend almost twice as much on men’s teams than women’s teams according to the NCAA’s 2022 “The State of Women in College Sports” report. This inequity is even more pronounced on the high school level. It’s great to see the record breaking attendance of 92,000 fans at the Nebraska-Omaha volleyball match which should sway their women’s program funding,
There’s significant growth at the pro level as well. The world’s first purpose-built stadium for a professional women’s sports team, CPKC Stadium in Kansas City supports the NWSL KC Current. And in Orlando, the Pride gave stadium naming rights to Brazilian financier, Inter&Co – with 5 Brazilian National Soccer Team women on the roster, they are rewriting the record books with sponsorship synergy!
Continue this momentum by meeting with facilities managers and sports directors to identify funding options to endear your brand, build loyalty and become a catalyst for change. Fans will love you for it.
Players as Influencers, Endorsers & Role Models
The NCAA NIL (Name, Image, Likeness) policy provides momentum for increased funding for women’s sports through sponsorship. You don’t have to participate on the Nike level but there are numerous ways to support women athletes with a high ROI.
Athletes are influential. Many have developed larger social media followings than the teams or leagues they’re part of. With 12% more women on social platforms, original content such as documentaries and podcasts shared by student athletes opens up sponsorship opportunities for brand building. Tag along with Iconic athletes as they inspire new generations of women in sports, breaking barriers and setting records – and become recognized for supporting women’s sports.
Media Stars & Rising Stars
Keep your eye on the games and watch for trending teams – so many more than just basketball and soccer – like the new professional Women’s Hockey League, softball, lacrosse, rugby, and volleyball. Follow and identify with emerging personalities like young Tennis players Coco Gauff and Naomi Osaka, and Alyssa Thompson the #1 pic in the 2023 NWSL draft at just 18 years old. Here are a few others to watch while still affordable:
From Phenoms to Medal Favorites, 26 Women Athletes Ready to Shine at the Olympics
Top 10 Caribbean Female Caribbean Athletes to Watch for 2024
Symbiotic Media Coverage
The meager “4%” media ceiling representing the share of women’s sports coverage is now a “whopping” 15% in large part due to streaming and social media according to a 2023 study by The Collective. The ESPN broadcast of the 2022 NCAA women’s basketball championship in primetime for the first time earned an average 4.9 million viewers. In 2023 the same championship aired on ABC with 9.9 million viewers – the most-watched women’s college basketball game ever. Mainstream coverage equals growth for women’s sports and targeted opportunities for advertisers.
Wait, there’s more! The Ally Financial one-year, multi-million-dollar ad buy with Disney’s ESPN requires 90% of the investment to be put to women’s sports. The Athletic sports website and Google announced a multi-year partnership with aims to double women’s sports coverage focused on soccer and the WNBA. And the new Women’s Sports Network is prodding ESPN to up their live game coverage.
Creating a Hometown Advantage
Most athletes got their start with community programs like Little League or FIFA Soccer that not only help to develop athletic skills, but nurture the values of drive, exercise, friendship, leadership and sportsmanship. Dollars donated to smaller programs may be the most crucial in supporting athletic dreams. You never know when a grassroots sponsorship could blossom into a larger relationship.
Our MLB Caribbean office calls St. Thomas home, as does WNBA superstar Aliyah Boston. Without programs to hone her talents, she battled convention to play on the 6th grade boys basketball team. At age 12 she had to give up island life to move to the states for greater opportunities. The NCAA women’s player of the year, #1 WNBA draft pick, and pro star with the Indiana Fever are a few of her numerous achievements. Aliyah is now doing something about the lack of opportunities by partnering with Under Armour to run a camp for young female basketball players in the Virgin Islands. Thanks, Aliyah!
Similarly, Nike supports the Elite Youth Basketball League and Adidas assists the Little League World Series by providing uniforms and shoes. Of the many ways of supporting beyond cash are in-kind donations of equipment and uniforms, funding venue rentals, or sponsoring combines to expose coaches and recruiters to promising athletes. We’ve donated seat cushions branded with the team name on one side and a business on the other for teams to sell to raise funds. Often, the smaller the program, the greater your visibility and ROI. It’s great to go to an event where everyone knows your name!
The Endgame
The Olympic motto is “Citius, Altius, Fortius – Communiter” in Latin, which translates to “Faster, Higher, Stronger – Together” to emphasize the unifying power of sport. Businesses and sports can work together in meaningful ways beyond hanging a banner at the Little League field.
Women’s sports have seen a surge in popularity with record-breaking viewership and participation. Yet the disparity between men’s and women’s facilities, program funding and professional sport salaries are vastly different. Earn your Participation Trophy for Equity by partnering with women’s sports – and together – reap the rewards.
According to Aliyah Boston, “Sometimes it’s just about an open door”.
To quote Nike, “Just do it”.
Need help taking your game to the next level? Contact us.