The GIST: On Wednesday, talent agency Wasserman’s women-focused research branch The Collective released The New Economy of Sports – Part II, produced with the Royal Bank of Canada. The report offers unparalleled insights into how the growth of the WNBA and NWSL will result in huge returns for investors.
By leveraging 40 key indicators such as market dynamics and team performance, the study projects that NWSL and WNBA teams combined will increase in value by at least $1.6B in the next three years, bringing the cumulative value of these teams to more than $4.3B. She is the moment.
📺 Media rights unlock revenue like nothing else. By 2027, Wasserman estimates the WNBA will see 32% viewership growth while the NWSL will see a 24% boost, likely thanks to their new media rights deals worth $2.2B and $240M, respectively. Both leagues also expect meteoric rises in attendance — 48% for the W and 42% for the NWSL YoY.
💪 Women’s sports fans are movers and shakers. Wasserman followed up existing research by finding fans of WNBA clubs are 13% more likely to buy merchandise from their favorite teams compared to NBA fans. Women’s supporters are also 18% more likely to be younger and 67% more likely to earn higher household incomes than men’s sports fans.
💥 New teams are blowing up the leagues. Expansion franchises account for 40% of league valuation growth, which tracks for newer NWSL clubs like Angel City FC, San Diego Wave FC, and Bay FC. While the W’s latest expansion teams have yet to officially hit the court, the Golden State Valkyries have a record 20K season ticket deposits, while Portland’s team has at least 7.5K.
✨ Celebrities are cashing in. Unlike the typical billionaire boys’ clubs in men’s leagues, WNBA and NWSL teams often have diverse ownership models, which has allowed PE and celebs to get in on the game. WNBA and NWSL teams are 1.7x more likely to have celebrity owners compared to NBA and MLS teams — nearly 40% of W teams already have a famous owner.
💰 Brands are lining up for coveted real estate. Top NWSL clubs command $1.4M average annual value (AAV) for front-of-kit sponsorships, and leading W teams earn $1.1M AAV for front jersey patches. It counts to get in front of women’s sports fans — they’re 54% more aware of and 45% more likely to consider buying from brands supporting the women’s game. Putting women first pays off.
