Women’s sport leagues, not teams, are the new investment frontier
Much like England’s women’s rugby team, women’s sport is on a winning streak. Record-breaking crowds at this year’s Women’s Rugby World Cup, Hundred attendance milestones, and rising broadcast deals in basketball all point to the same shift: the commercial gap with men’s sport is closing, fast.
For years, many investors dismissed women’s leagues as worthy but niche, a good idea but one with little or no financial return. That is changing. Shifts in demographics, media consumption habits and corporate priorities now make the sector one of sport’s most promising growth markets.
The numbers are beginning to add up. Management consultancy McKinsey estimates that revenues in women’s sport are expanding over four times faster than in men’s competitions, yet they still represent less than two per cent of the $75bn US sports market. McKinsey projects that US rights-holder revenues could reach around $2.5bn by 2030 – more than double today’s level.
Fans want women’s sport
Younger audiences don’t see sport through the old gender lens. They are digital natives who follow stories and personalities more than long-established hierarchies. In 2024 around 18 per cent of US adults said they follow women’s sports. Three-quarters of those fans are avid live sports viewers, watching six or more leagues on average.
The array of social platforms now on offer gives women’s leagues direct reach, bypassing traditional broadcasters. Matches that once drew a few thousand spectators can now find global audiences of millions online.
And sponsors have noticed. Brands keen to tap into this growing audience are flocking to women’s competitions. Media coverage has nearly tripled since 2019, showing rising exposure. What was once a sideline is becoming a prime marketing platform.
Built for innovation
Women’s leagues are also unencumbered by decades of old-fashioned contracts and vested interests. They can start fresh, with formats that suit modern audiences and technology from day one. Shorter seasons, flexible scheduling and tournament play make them easier to package for global streaming.
Data and analytics can be baked in from the outset. Dynamic ticket pricing, personalised content and direct-to-consumer subscriptions are easier to implement when there are no legacy systems to unpick. Some competitions are already experimenting with richer, interactive broadcasts.
The NCAA women’s basketball final this year offered a “Megacast” with multiple commentary feeds and data-enhanced views, letting fans customise their experience in real time – an approach that smaller, fast-growing leagues can adopt even more quickly.
Italy’s women’s volleyball league (Lega Volley Femminile, LVF) is another case in point. Volleyball is among Italy’s most practised sports, with about 1.5m female players and 7.5m fans, making it the number one sport among young girls. In the 2023–24 season LVF attracted 10.6m TV viewers – an 83 per cent rise in two years – with 215m digital video views and 517,000 in-venue spectators. These numbers rival or exceed those of many long-established men’s competitions, representing a tremendous opportunity.
Capital with patience
The opportunity is clear, but it’s not a quick trade. Building sustainable leagues requires long-term investment in facilities, youth systems, and international calendars. Flashy buy-outs and rapid flips rarely create lasting value.
Patient capital – money prepared to stay and build alongside athletes, federations and communities – is essential. Backers who take the long view can help set governance standards, protect athlete welfare and develop business models that reward performance both on and off the pitch.
As England full-back Ellie Kildunne put it ahead of today’s Rugby World Cup final, success comes when teams “trust the process” they have been on. The same principle applies to investors in women’s sport: real value is created not in weeks or seasons, but by staying the course over years.
Human dividends
The returns go beyond the financial; women’s sport provides visible role models and normalises equality in schools, workplaces and boardrooms. Young people who see women competing at the highest level expand their sense of what is possible. That effect strengthens the case for sustained support, even if it doesn’t appear on a balance sheet.
Time to act in women’s sport
The next decade will decide whether women’s leagues become mainstream global properties or remain underexploited. The fundamentals favour growth: audiences are expanding, sponsors are eager, and digital distribution lowers barriers. What’s needed now is capital, conviction, and competence to match the momentum.
Women’s sport isn’t a sideshow or a lighter version of the men’s game. It’s a dynamic market in its own right, with formats, audiences and commercial potential that demand equal attention. Investors who move early – and stay the course – will help define the next era of global sport and stand to benefit when that future arrives.
Nicole Brachetti Peretti is the founder of NJF Holdings