Beyond the game: A case for investing in women’s sports

From the first-ever Olympic Games with gender parity among athletes, to a record-breaking WNBA season that introduced a roster of new household names, powerful women lit up our screens, dazzled fans, and dominated group chats.

As a fan, and as a leader who has championed women throughout my career, I’ve been so excited to see these remarkable women command the spotlight. It feels good to see women win and win big.

But even as the spotlight shines on women’s sports, there are still major gaps in the investment dollars compared to men’s sports. Women’s sports get just 10% of sponsorship dollars, 15% of media coverage, and a fraction of broadcast rights fees compared to men’s sports—despite the rapid growth of fans, viewers, and customers. In fact, elite women’s sports are poised to generate more than $1 billion in global revenues in 2024, experiencing a remarkable 300% growth in just three years.

This is not a fleeting phenomenon, or a flash in the pan, as some may say. Women’s sports are here to stay, and there is tremendous opportunity to get involved. Beyond the opportunity, I believe leaders in business, media, sports, and beyond have a unique vantage point to get in the game and effect real, lasting change. Still on the fence? I’ve put together three critical elements leaders should consider including when they pitch increased investments in women’s sports to their organization.

Share your “why”

For me, the success of women’s sports is personal—and far transcends the field of play.

Growing up, I was the only girl on my town’s baseball team. Despite not having examples of other girls chasing their dreams on the field, my mom assured me, “baby, you can be anything you want to be.” That lesson—that nothing is out of reach—was one of many I learned on the playing field.

I learned I didn’t need to be the best, fastest, or smartest player on the field to become a leader—good leaders don’t play every position, rather, they assemble winning teams. I learned the value of teamwork, discipline, communication, and being part of something larger than myself—all lessons I rely on heavily in my career.

This relationship between sport and career success is certainly not unique to me—in fact, at Deloitte we surveyed the market after noticing a common trend among the top women executives within Deloitte and from our clients: we played sports. The biggest takeaway? A vast majority (85%) attributed playing sports to career success later in life.

Sport is an equalizer, and creating opportunities and encouraging involvement from a young age can be an important step in paving the way for future generations of women leaders. Leveling the playing field, however, may hinge on increased investment in women’s sports.

Uncover—and solve for—barriers

The case for women’s sports seems simple—but organizations still face barriers to investing. To better understand these barriers—and to work toward potential solutions—we surveyed brand decision-makers of organizations currently investing in sports.

Survey respondents indicated unproven business returns, lack of awareness in total reach, financial constraints, and limited industry data emerged as top challenges organizations are facing. I find these barriers far from insurmountable. Words like “unproven,” “lack of,” and “limited,” point to the idea that we are at the beginning of something great, that we are still writing the story of women’s sports.

We know now the industry is growing rapidly—and organizations are incredibly interested in seizing this open area of opportunity. As such, we also collected data on the types of solutions needed to help overcome these investment challenges. Access to industry data and insights, case studies, and best practices topped the list. Simply put, we need more people talking about, researching, and sharing their experience.

One statistic from the research jumps out as exemplary of where we are in this investment journey, and all the incredible places it is sure to lead. A remarkable 93% of brand decision-makers are optimistic about the future growth of women’s sports. The opportunity is here…the opportunity is now!

Collaborate for outsized impact

The good news? We can collaborate to overcome barriers and create an outsized impact through investments. Inspired by this idea, Deloitte and other like-minded organizations are shaping the future of women’s sports with the Athena Pledge.

At its core, the Athena Pledge and its participants aspire to mobilize investment, research, and opportunities in the industry, and to rally other brands to commit to targets in increased spending and support in the women’s sports ecosystem.

We can help shape the future of women’s sports as commitments to invest grow, research brings to light new opportunities, and we collaborate for impact on the path forward.

This is about more than just supporting games; this is about inspiring the next generation of women. Equitable access to capital can provide athletes with the recognition they deserve, while simultaneously creating an outsized impact on society. The spotlight is on women’s sports—now is the time to capitalize on the momentum and effect real change.