How Investors Can Benefit From Surging Growth In Women’s Sports

The women’s sports industry has reached a historic tipping point, according to a recent Deloitte report. After a landmark year in 2024 that shattered attendance and viewership records across multiple sports, the women’s sports industry is no longer just about potential. Instead, it’s about delivering real, sustainable growth. The report, “Beyond the billion-dollar barrier: Charting the next phase of growth,” highlights how women’s sports are rewriting the traditional playbook and creating unique experiences that fans are not only eager to be apart of, but also ready to pay for.

What makes this growth even more impressive is that it’s happening across multiple sports and regions. While North America and Europe continue to lead in terms of investment, significant progress is being made in emerging markets like Morocco, Japan, and Australia. Cricket competitions like The Hundred in the United Kingdom and the Women’s Premier League in India are captivating more fans, while volleyball has secured substantial investment with League One Volleyball raising approximately $160 million to launch in early 2025.

Women’s Sports Record Breaking Growth

The 2024 season was a game-changer for women’s sports, exceeding even Deloitte’s most optimistic projections. The surge began with historic moments that captured global attention and continued to build throughout the year: The Paris Olympics achieved 50/50 gender parity for the first time in history, the WNBA negotiated an improved media rights agreement while expanding its fan base, Chinese tennis star Zheng Qinwen made history as the first Asian singles gold medalist, American rugby phenomenon Ilona Maher helped generate historic crowds for Bristol Bears, the inaugural ATHLOS track and field competition drew elite athletes and premium brands.

The most striking testament to this growth was seen in the NCAA women’s basketball championship game between Iowa and South Carolina, which drew 18.9 million viewers making it the most-watched college basketball game in ESPN’s history. The broadcast peaked at 24.1 million viewers during its final minutes, establishing it as the second most-watched women’s sporting event in U.S. television history.

This wasn’t just a basketball phenomenon. The National Women’s Soccer League Championship between Orlando Pride and Washington Spirit averaged nearly 968,000 viewers on CBS, setting a new league record with an 18% increase from 2023. The NWSL became the first women’s soccer league globally to average more than 10,000 fans per game, with total attendance surpassing two million for the 2024 regular season. The WNBA experienced similar growth, with the Finals between the New York Liberty and Minnesota Lynx averaging 1.6 million viewers making it the most-watched Finals in 25 years. The league saw a 50% attendance increase, with the Indiana Fever averaging 17,035 fans at Gainbridge Fieldhouse, a stunning 319% jump from the previous year.

A New Investment Mindset

The report suggests that investment in women’s sports requires a fundamental shift in thinking. Instead of focusing on short-term financial returns, investors should adopt a venture capital mindset driven by long-term vision and societal impact and investment is accelerating at an unprecedented pace. In early 2025, the city of Denver paid a record $110 million expansion fee to enter the NWSL which was more than double the $53 million paid by Boston and San Francisco-based Bay FC just two years earlier. The WNBA is also expanding rapidly, with Toronto (Toronto Tempo) and Portland set to join the league in 2026, bringing the total number of franchises to 15, with plans to reach 16 teams by 2028.

Perhaps an even more telling signal about where women’s sports are headed comes from who’s putting their money behind these ventures. Unrivaled, the 3-on-3 basketball league co-founded by WNBA stars Napheesa Collier and Breanna Stewart, recently announced Stephen Curry as its newest investor. Curry joins an impressive roster of backers including Giannis Antetokounmpo, Carmelo Anthony, Alex Morgan, Coco Gauff, Michael Phelps, and coaching greats Dawn Staley and Geno Auriemma.

This investment by some of the most respected figures in sports has helped Unrivaled secure over $28 million in Series A funding, following a $7 million seed round. The league, which recently completed its first regular season, features top WNBA talent including Brittney Griner, Sabrina Ionescu, Jewell Loyd, Angel Reese, and Arike Ogunbowale. Beyond providing an alternative to overseas play during the WNBA offseason, Unrivaled grants players equity in the league itself which created a new revolutionary concept in professional sports.

The fact that elite athletes and coaches are investing significantly in women’s sports represents a profound shift in the industry. They clearly recognize the exceptional talent, compelling narratives, and immense growth potential in women’s sport. Their willingness to back these ventures financially speaks volumes about where folks leading the industry see the future of sports entertainment heading. As Curry stated upon joining Unrivaled, the league is “setting a new standard for how women’s professional sports should operate,” highlighting both the business innovation and values-driven approach that characterizes this new era in women’s sports.

Importantly, these investments aren’t limited to traditional sports powerhouses in North America. Across the Middle East, governments are directing resources towards grassroots initiatives to increase girls’ participation in sports. In the Asia-Pacific region, countries like Australia have demonstrated significant commitment by upgrading stadiums, enhancing training facilities, and implementing legacy programs following the 2023 FIFA Women’s World Cup.

Winners and Losers in the New Landscape

The rapid growth of women’s sports is creating clear winners in the industry. Athletes like Caitlin Clark, Angel Reese, and Cameron Brink have become household names with massive social media followings. Collectively, these three WNBA players boast over 9.5 million followers across platforms, amplifying engagement among an expanding and young fan base.

This social media presence is particularly valuable as WNBA fans show higher rates of engagement and sponsorship influence compared to fans of other major leagues. According to the Sport Business Research Network’s 2023 recent Annual Study, approximately 80.8% of surveyed WNBA fans report being influenced by sponsorships which is significantly higher than the 68% average found for fans across other major U.S. professional leagues. Media companies that invested early in women’s sports coverage are also reaping benefits. ESPN’s coverage of the NCAA women’s basketball tournament and the WNBA has delivered record viewership, while CBS has seen similar success with NWSL broadcasts.

Progressive leagues and teams that have invested in women’s sports are also seeing their foresight rewarded. The NWSL’s expansion teams now command nine-figure valuations, while WNBA team values continue to rise. New ventures like the Professional Women’s Hockey League and Unrivaled basketball league (founded by WNBA stars Breanna Stewart and Napheesa Collier) are creating additional opportunities for athletes and fans.

However, not everyone is embracing this new era and several groups that risk being left behind. Those who continue to dismiss women’s sports as commercially unviable are increasingly contradicted by hard data showing massive audience growth and investment returns. This outdated thinking is becoming a competitive disadvantage for media companies, sponsors, and investors who fail to recognize the shift in consumer preferences. Additionally, colleges and universities that aren’t investing adequately in women’s programs and NIL efforts for their women athletes are missing opportunities to build powerful brands and attract top talent. As stars like LSU’s Flau’jae Johnson build NIL portfolios worth an estimated $1.5 million through deals with companies like JBL Audio, Apple Cash, and Roc Nation, schools that neglect these opportunities risk falling behind in recruitment and visibility.

Additionally, recent policy decisions also threaten progress. In February 2025, the U.S. Department of Education revoked guidance that applied Title IX principles to name, image, and likeness (NIL) deals. This decision allows schools to distribute the majority of direct payments to athletes in revenue-generating sports which will mean football and men’s basketball players will largely benefit while institutions will allocate as little as 5% to women’s sports. Critics like Catherine Lhamon, former assistant secretary of the Office for Civil Rights, called the decision “appalling” for an administration that claims to protect women and girls’ equal access to sports. Economics professor Andrew Zimbalist described it as “reprehensible,” suggesting it signals an attack on Title IX over the next four years. As a result, the contrast between the winners and the losers couldn’t be clearer. As women’s sports demonstrate continued commercial success, those clinging to outdated stereotypes, structures, and policies risk finding themselves on the wrong side of history and economics.

Keys to Sustained Success and Growth

Despite the remarkable progress, the Deloitte report acknowledges that several challenges must be addressed to ensure this upward trajectory continues. Consistent investment is crucial for developing infrastructure, nurturing talent, and expanding reach. Building a robust pipeline of future stars through grassroots initiatives and clear pathways for aspiring athletes is essential for the long-term health of women’s sports. Further, the challenge now is not simply demonstrating that women’s sports can attract audiences, but about creating sustainable structures that can support long-term growth and provide equitable opportunities for athletes, teams, and leagues.

As women’s sports continue to break barriers and rewrite playbooks, the message from fans is clear: they want more, not less and their buying power is powerful. The two billion-dollar barrier has been broken, and those who recognize this shift and adapt accordingly will find themselves part of one of the most exciting growth stories in the sports industry’s history. As for the others, they’ll be left watching from the sidelines as a new generation of fans, athletes, and business leaders transform women’s sports into one of the most dynamic and valuable properties in global entertainment.