By 2024, it is expected that women will earn 71% of the worldwide income from sports like basketball and soccer, making them the most lucrative sports overall. This surge in fan and investor engagement is creating new and improved opportunities for clubs and leagues. According to Deloitte, television will generate 27% of the money, while the majority of the revenue (55%) will come from commercial arrangements made by leagues and teams. Matchday income is anticipated to increase by 5% starting in 2023, adding 19% to the total revenue.

Basketball is expected to generate a wealth of $354 million, or 28%, and North America (US$670 million, or 52%) and Europe (US$181 million, or 14%) are predicted to be the two biggest markets in 2024.

Caitlin Clark celebrates WNBA’s win

According to a forecast by business consulting firm Deloitte, women’s sports are expected to generate a record-breaking revenue of $1.28 billion by 2024. The company’s research covers various industries, including media, telecom, and artificial intelligence.

Boardroom has disseminated this news on their official Instagram pages, accumulating images of WNBA champions and NCAA players such as Caitlin Clark, Breanna Stewart, and Aja Wilson. The post was captioned, “For the first time in history, global revenue for women’s sports will surpass the $1 billion mark, per @deloitte.” The $3 million NCAA star Caitlin Clark shared this ecstatic news on her Instagram stories.

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The estimated revenue is at least 300% greater than Deloitte’s first projection for women’s sports in 2021. This prediction marks that women’s sports revenue will surpass $1 billion annually. Deloitte’s estimate is based on three primary revenue streams – matchday, broadcast, and commercial.

Read More: Breanna Stewart vs. A’ja Wilson: Will the 2023 WNBA Finals Amass the Largest Viewership in League History?

The commercial revenue includes club sponsorships, partnerships, and merchandise sales, accounting for 55% of total income, or $696 million. Matchday and broadcast revenues come next, with $240 million (18% of total income) and $340 million (27% of total revenue), respectively.

The historic rise of stats in the WNBA

The number of people watching the WNBA has climbed by 27% over the previous year. The USA’s new prime-time game during the NBA off-season is not surprising.

The WNBA season of 2023 had a wider media reach than any other season in the franchise’s 27-year existence.

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The franchise is experiencing the economics it has always wanted thanks to the rate of growth in viewership. ESPN used the occasion to showcase the WNBA’s steady increase in viewership by sharing a number of data points on their official Twitter account.