Engaging in sports during youth significantly shapes the future landscape of sports consumption, and the outlook for women's sports is especially promising—a noteworthy addition to the narrative.
Aspen Institute Sports & Society's recent annual analysis focused on the trends influencing sports engagement among youth aged 6-17, revealing a compelling development in 2023:
The dynamics of sports participation are shifting, with an uptick among girls and a decline among boys. In 2022, boys (40%) continued to engage in sports more consistently than girls (35%), based on national data from the SFIA - Sports & Fitness Industry Association. However, the intriguing shift is evident: a decade ago, half of boys regularly participated in sports, while the current participation rate for girls marks the highest since 2013.
Additionally, Deloitte predicts that women’s elite sports will generate global revenues of US$1.28 billion in 2024. This is the first time that annual global revenues for women’s sport will have surpassed US$1 billion. Commercial revenue, which includes club sponsorships, partnerships, and merchandising sales, currently represents the largest share of total revenue (US$696 M, 55%). This is followed by broadcast (US$340 M, 27%), and matchday revenues (US$240 M, 18%).
The two most valuable women’s sports are projected to be football (US$555 M, 43%) and basketball (US$354 M, 28%), while the largest geographical markets in 2024 are forecast to be North America (US$670 M, 52%) and Europe (US$181 M, 14%).
Anticipating positive prospects for the future of women's sports in the US!
It's been quite the year for women's sports. 👏
Our 3rd weekly insight breaks down some of the key metrics.
From University of Nebraska-Lincoln's record-setting attendance for a women's sporting event, to the National Women's Soccer League (NWSL)'s historic media rights deal, it's clear that we should keep an eye on what's to come in 2024.
#Navigate | #SportsBiz #SportsBusiness #WomensSports #NWSL
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