Women in sports: Key insights on transformation and impact
Editor’s note: Elizabeth Jackson is chief marketing officer at Collage Group, a marketing research firm based in Bethesda, Maryland.
The sports industry is experiencing an unprecedented transformation with the explosive growth of women's sports. No longer confined as a niche, it has blossomed into a thriving sector teeming with unique opportunities for marketers to forge deeper connections with consumers, and for insights professionals to educate stakeholders. The surge in women's sports is not a temporary wave, but a sustainable movement that is restructuring the landscape of the sports industry.
Key drivers of this growth include the rise of women athletes to celebrity status, the escalating financial impact of women's sports and the mounting engagement of women fans. As the dynamics of sports marketing evolve, measuring participation and fandom increases extend well beyond the promotion of the game. Particularly in women's sports, the fusion of culture and sports has become instrumental in captivating audiences.
The growth in participation, fandom and investment in women's sports isn't a one-off phenomenon. Rather, it's a unique opportunity for top brands to make a lasting connection with consumers. And the time is now.
Women's sports are experiencing a boost, not only due to increased participation but also as a result of shifts in cultural landscapes. Women athletes are now mainstream celebrities, influencing popular culture and inspiring more participation from women and girls. The financial implications are significant, with brands recognizing the potential of this growing market, and researchers better equipped to inform. Women are not just participants in sports but are becoming engaged fans. Brands are focusing their marketing strategies and campaigns to specifically target women athletes and fans.
Data behind the growth of women's sports
The statistics are compelling: From 18.7 million TV viewers for the NCAA women's basketball finals to a $2.2 billion media rights contract, brands are paying attention.
The expansion in women's sports extends beyond mere figures. It's about the individuals who have sparked participation and fandom through their talent and fan engagement. Athletes like Serena Williams and Simone Biles have become household names, inspiring a new wave of female athletes. Collegiate stars have also fueled interest in women's sports, with athletes like Caitlin Clark and Izzy Scane making headlines.
The surge in participation isn't confined to professional sports. Over the past decade, NCAA women's sports grew by more than 16%, with lacrosse, ice hockey and golf acting as the primary catalysts. Collage data indicates that participation overall has increased +9.7 million new women consumers who participate in sport in just two years.
Rugby and boxing were the only two sports that showed a decrease in participation during those two years. However, celebrity status of Olympic bronze medalist rugby player Ilona Maher and the subsequent fandom with 4.7 million followers in Instagram alone around her in “Dancing with the Stars” may be enough to drive an explosion of participation for rugby as well.
Consumer loyalty through support of women’s sports
The expansion of women's sports also ties to where consumers spend their money. Brands that support women’s sports can benefit from increased loyalty, as a reported 37% of all consumers will go out of their way to purchase from such brands. The intersection of culture and women’s sports will unlock significant financial value in sponsorships, advertising and brand experiences that resonate with these consumer segments.
It is evident that media representation of women in sports is increasing. Media plays a pivotal role in promoting women's sports and reaching a broader audience. The rise in media coverage of women's sports has resulted in a boost in viewership and advertising spend. New data from Collage highlights how multicultural consumers are driving much of this fandom.
The future of women's sports
The sports industry has transformed significantly over the past five years. Key voices from diverse cultural segments have been incorporated as commentators, writers, social media producers and experts. This approach allows brands to reach a broader audience who may be more interested in the personalities and lifestyles associated with the sport rather than the sport itself. For instance, content focusing on players' fashion choices has attracted fans who view the players as celebrities or influencers. This approach has resulted in a crossover of fan bases, with increased interest in women's sports from men and vice versa. Insights professionals can use this case study of women and sports to bring new insights across segments and categories to inspire brands to look outside of their category for business growth opportunities.
As we look to the future, the intersection of culture and women's sports is primed to become even more pronounced. As women's sports continue to expand and gain visibility, the opportunities for cultural growth and intersectionality are set to rise. Brands that can effectively leverage this intersectionality will be able to create more personalized and engaging experiences for their audience, leading to increased fan loyalty and revenue.