Spring is in the air, the birds are singing, and millions of sports fans ask each other “is your bracket busted?” College basketball dominates the US sporting calendar in what’s dubbed March Madness and up until very recently it was the men’s game that dominated the conversation.
Step aside fellas.
2024 marked a watershed moment in sports as women’s college basketball eclipsed the men in drama, buzz and most important to marketers, viewership. It was a hopeful moment in time when the disparity between men’s and women’s sports was turned on its head and signaled a wave of change. Or did it? Only time will tell if the spike in interest can be sustained and spread to other sports. Many will tout compelling facts such as the NCAA Women’s Championship game between Iowa and South Carolina getting 18.9MM viewers, more than double from the previous year, shattering records and beating out the Men’s Championship which only had 14.9MM viewers.The game, which featured the-now-household-name Caitlin Clark, was also the most viewed basketball game over the past five years outpacing NBA games during that same period. With stats like that some will say that female athletes’ time has finally come and we’re in a new age of equality.
They’d be wrong.
While all indications are that brand investment in women’s sports is on the rise, the question remains how much should marketers invest in the space? Women’s sports account for 15% of all sports social, linear, streaming and digital sports coverage, an over 3x increase from the previously accepted stat which stated that number at only 4%. This number is expected to reach a 20% total share by 2025.Deloitte predicts that in 2024, revenue generated by women’s elite sports will surpass $1 billion for the first time, with $1.28 billion in total forecast revenues. Women’s sports saw a 20% YoY increase in sponsorship in 2022 alone. These and other indicators are all positive signs of growth but in some regards are simply beating their own benchmarks and still pale in comparison to the avalanche of money invested in men’s sports. Some brands are putting their money where their mouth is with a change in strategy. Financial services company Ally continues to work towards their 2022 50/50 pledge to evenly split marketing dollars between men’s and women’s sports. In 2024 they’ve reached approximately 44% in spend towards the women’s side.dentsu X client Vital Farms is making their first foray into national advertising, focused 100% on women’s sports. They’ll be pioneering a “Girls on Grass” brand initiative in 2024, investing in both the NWSL and LPGA as part of their commitment to progress. Another dentsu X client, Carmax, is a corporate sponsor of both the WNBA (since 2020) and the NWSL (since 2022) The brand is one of just 13 corporate partners of the NWSL, committing to a multi-year partnership in 2022. The brand is also making a push to feature female athletes in their creative
That’s not enough. There is an unequivocal accelerant to the virtuous cycle of growth for women’s sports: disproportionate investment. Investing in women's sports transcends mere sponsorship—it embodies a deeper purpose, one rooted in the fundamental principles of equality and empowerment. By championing female athletes and providing them with the resources and visibility they deserve, brands are not only driving sales but also forging meaningful connections with their audiences. In a world where consumers increasingly seek authenticity and purpose-driven brands, supporting women's sports becomes a powerful statement of values. It signifies a commitment to inclusivity, diversity, and the pursuit of a more equitable society. Increased brand investment means media platforms will be forced to feature more games in higher-rated timeslots, leading to more attention, higher league and team revenue, and ultimately, better career opportunities, higher participation rates, and talent development. More stars will drive more excitement and viewership which leads to more brand investment...and now the cycle feeds itself. Through their investment in women's sports, brands have the opportunity to foster a sense of connection with consumers who share these values, creating a ripple effect of positive change that extends far beyond the realm of athletics. In this way, the quest for purpose, connection, and meaning becomes not just a marketing strategy but a guiding principle that shapes the future of advertising and society as a whole.
Swish.
For more wisdom and insights from other dentsu X leaders worldwide, download our report ahead 2024: branding beyond impact.
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