A new report reveals a new trend in sport: a whopping 21% of UK adults are starting to look more closely at women's sport, a shift that not only raises the profile of female athletes, but also brings a new leap in the commercial value of women's professional sports events.
The rise of top athletes such as American gymnastics superstar Biles, Japanese tennis star Naomi Osaka and China's women's soccer team of Ashley Harris, Ali Krieger and Morgan on the 2021 sports business value list signals that women's sports are gradually closing the gap with men's sports, with Biles topping the list, alongside well-known male athletes such as Crowe and Djokovic.
With the entry of domestic and international brands such as Nike, VISA, TikTok, Pico, and Teppo, the unique charm of women's sports is gradually becoming the favorite of capital.
So what is it about women's sports that is making it more mainstream?
The attention of many women's sporting events has increased significantly, thanks to the excitement and competitive level of the events themselves. For example, last season's Women's Premier League in the last round to decide the champion, Chelsea women's football team eventually won the title; this season's WNBA staged a "Chinese derby", Chinese player Li Yueru's Chicago Sky 88:86 victory over the New York Liberty, Han Xu's team; 2022 women's tennis emerged a number of new stars, and even the first time five people won the title. Five people won the championship for the first time.
The Women's European Championship 2022, which ended last month, was a sensation, with intense matches, sold-out crowds, and widespread media attention that led UEFA President Chevron Chevron to praise it as "the most successful edition ever".
The Women's European Championship final between England and Germany attracted 87,192 fans to the game, setting a new record for the highest ever crowd for a women's and men's European Championship final.
It is worth mentioning that only 67,173 people attended the final of the Men's European Championship between England and Italy last year at the same venue, which was more than 20,000 people less. In the end, England won the championship over Germany, and many media outlets used "Football has finally come home" as the headline of the news, attracting a lot of eyeballs.
The increase in attention was accompanied by a 14-year high of 379,000 viewers for the WNBA.
Approximately 387,000 viewers watched the 2020 WNBA Draft live online via television broadcaster ESPN, the second-most-watched WNBA Draft in ESPN broadcast history.
A report by the Women's Sports Trust (WST) shows that 17.9 million people watched women's sports coverage in the first quarter of 2022, a 67% increase on the same period in 2021, with increased media exposure allowing women's sports events to reach a wider audience.
UEFA is committed to extending the professionalization model of the Premier Women's League to the four major leagues, including France, Spain and Germany, and major media outlets have stepped up their broadcasting and promotion of women's football.
Last season's Spanish women's soccer "national derby" was attended by more than 90,000 people, and the Spanish newspaper Marca reported the event on the front page.
Sky Sports has committed to broadcasting at least 35 to 44 matches per season and at least one free match per round to attract more attention from younger viewers.
Through the feedback of TV data, it is clear that viewers have a strong interest in women's soccer matches.
The survey showed that 68 percent attributed the growth in interest in women's sports to increased media coverage related to them and the improved quality of that coverage.
While the commercial value of women's sports has increased, major brands have balanced their investment in men's and women's sports.
According to Deloitte's study, The Rise of Women's Sports: The Road to Commercialization, women's sports will be able to create a large television audience and create value for sponsors, attracting tens of thousands of sports fans to a single event.
Nike has further increased its commitment to women's football and announced a new long-term partnership with the Football Association (FA) to launch the official match ball of the all-New England Women's Super League (WSL) for the 2022/23 season.
As the core player of Chinese women's basketball, Li Yueru has already won three championships and one FMVP in the WCBA, and now, Li Yueru is on the WNB A game the moment, her exposure will also be further increased.
In addition to brands, many high-profile athletes are also putting big money into the women's sports market.
Just Women's Sports ("JWS"), a media platform focused on women's sports, was founded by Harley Rosen, who realized that only 4% of the sports media was dedicated to covering women's sports, and when it secured a $3.5 million seed round of investment, the media found out that investors included NBA Thirty Five Ventures, the investment firm of famed star Kevin Durant.
This isn't the first time Durant has supported the development of women's sports either, as he joined the advisory board of women's sporting events company Athletes Unlimited in 2019, a company also founded in 2019 that had plans to host a women's softball league and a professional indoor volleyball league.
Meanwhile, the likes of NHL stars Alex Ovchenko, Naomi Osaka and Williams have all taken stakes in teams in the U.S. Women's Soccer League, and women's sports are gaining popularity in investment circles.
According to a report released by Statista in 2018, women's sports received just 0.4% of the total amount of sponsorships across all sports: out of a total sports sponsorship market worth $106.8 billion, only $427 million was spent on sponsoring women's sports, and today with the increasing market value, it's reasonable to believe that women's sports will be receiving even more sponsorship investment.
Women's sports naturally have something that appeals to them.
The women's sports market will exceed $200 billion by 2025, according to a study by consulting firm The Business.
Women in the family often have the right to make decisions about purchases and have strong purchasing power. In China, for example, according to CBNData questionnaire research data, the women's consumer market reaches 10 trillion dollars, and they are more likely to invest their savings in themselves.
Nearly 80% of women in China have fitness habits. According to the 2021 Mass Fitness Behavior and Consumption Research Report released by the State General Administration of Sports, women's sports consumption has grown significantly, with the average total consumption reaching 6,362 yuan, an increase of nearly 50 percent year-on-year.
In addition to traditional sports brands, women's sports sponsorships are filled with beauty and fashion brands such as Mogul and Estee Lauder, right up women's consumer alley.
It is this spending habit of women, coupled with the already inexpensive sponsorship fees, that allows for a higher ROI.
For broadcasters and sponsors, not only does it mean the formation of a growing new consumer base, but it also gives the media and sponsors new opportunities to tell the story of the career paths of female athletes and young girls.
For example, the story of Gu Ailing's growth during the Beijing Winter Olympics, or the story of Quan Hong Chan and Chili Pepper during the Tokyo Olympics, such stories will appear frequently in the public's view in the near future, and this kind of sports marketing is much more pure and grounded.
There is also marketing that shows a sense of contrast in women.
In 2020, Zhang Weili's victory over Joanna in the UFC attracted a lot of attention, while Estee Lauder's signing with her was a surprise, as the high-end beauty brand seems to have nothing to do with mixed martial arts, but it's this sense of contrast that is the most appealing, and shows Zhang Weili's softer side that is different from that of the ring.
As a result, the rewards for brands getting involved, actively promoting women's events and telling women's stories are no longer on a commercial level.
