What you probably already know: Women’s sports in the U.S. have reached an inflection point, with fan engagement, media exposure and commercial investment surging. From 2022 to 2024, revenue for women’s sports grew 4.5 times faster than that of men’s, but the sector still captures less than 2% of the total U.S. sports market, according to a McKinsey & Co. report, “Closing the Monetization Gap in Women’s Sports.” Women’s sports could generate at least $2.5 billion in the United States within five years, a staggering 250% increase from 2024. The biggest opportunity is brand sponsorships of teams, leagues and athletes, followed by ticket sales, broadcast media rights and merchandise and licensing deals.
From left, A’ja Wilson, Diana Taurasi and Napheesa Collier at the 2024 Olympics. | Wikimedia Commons photo
Why it matters: There are almost no “women’s-only” sports fans: The research finds that fans who follow only women’s sports constitute just 1% of the total sports fan population, meaning that most of the audience are already serious sports fans (especially of existing men’s sports). Eighty percent of sports fans across the U.S. follow women’s sports, and more than half became fans in just the past five years, underscoring “just how mainstream women’s sports have become.” New fans tend to be initially attracted because of individual players (think Caitlin Clark, A’ja Wilson or Simone Biles) but also due to megaevents such as the Olympics or Women’s World Cup.
What it means: Viewership numbers are skyrocketing especially in the WNBA and the National Women’s Soccer League, but rights for women’s sports are priced much lower than they are for men’s in terms of revenue per viewer hour, presenting “an opportunity for rights holders to increase revenue.” The challenge, though, is converting casual fans into more committed followers through storytelling and data-driven engagement, including social media. Only 39% of women’s sports fans call themselves “avid,” versus 69% for men’s. But those avid women’s sports fans follow an average of 10 sports and spend more than their male counterparts on tickets, merchandise and sponsor products.
What happens next: Several structural challenges threaten growth. Many women’s sports are less visible, appearing on niche streaming platforms rather than mainstream broadcasts. Notably, women’s leagues have shorter histories and a smaller scale, scaring off many investors, sponsors and media companies. The WNBA, for example, receives significantly less airtime than the NBA, but the report notes that the relative affordability of women’s sports should increasingly drive fandom, as average attendance at women’s games rose 55% between 2021 and 2024. Sponsorship dollars are also rising (the WNBA had a record 45 sponsors last season). “Early movers in women’s sports have a chance to support the exciting new athletes of today while helping ensure their brands are deeply connected to the superstars tomorrow.”
