Women's elite sports revenue will cross billion dollars in 2024: Deloitte

[November 30, 2023]  (Reuters) - Annual global revenue for women's elite sports will cross the billion-dollar threshold for the first time in 2024, Deloitte said on Wednesday.
 
The predicted $1.28 billion revenue based on matchday earnings, broadcast and commercial revenue is "at least 300 per cent higher" than their previous valuation three years ago, Deloitte said.

Pan-Am Games - Santiago 2023 - Basketball - Women's Team Final Gold Medal Match - Colombia v Brazil - Polideportio Nunoa, Santiago, Chile - October 29, 2023 Colombia's Manuela Rios in action with Brazil's Erika De Souza REUTERS/Dylan Martinez/ File photo

"Women’s sport is increasingly being viewed as a unique product that is becoming ever more distinct from men’s elite sport," said Jennifer Haskel, insight lead for Deloitte's Sports Business Group.

"This surge in fan and investor engagement is leading to new and improved opportunities for clubs and leagues."

Commercial deals by leagues and teams would bring in the majority of the revenue at 55%, while broadcast would account for 27%, Deloitte said.

Matchday revenue is expected to grow by five per cent from 2023 and contribute 19% to the pool.

Soccer and basketball are predicted to be the most lucrative sports for women in 2024, bringing in 71% of the total global revenue.

"In 2024 women's elite sports will continue to be allocated additional prime time broadcast slots, making the women's events easier to find and watch," Deloitte said.

(Reporting by Chiranjit Ojha in Bengaluru; Editing by Christian Radnedge)

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