The Future of Women’s Sport is NOW!

Women’s sport is in the ascendancy in recent times like never before. In comparison to the previous decades, there has been a multifold increase in the professionalism of women’s sport, along with a rise in levels of commercial interest, viewership, and prize money for athletes. The headlines have been dominated by the potential of the women’s game and the huge impact it could have on the whole sports industry. In January 2022, it was reported that the top-10 highest-paid women earned a total of $167 million in 2021, which is a substantial increase of 23% from 2020. [1] There have also been unprecedented attendance and viewership numbers across sports, in football, cricket, and rugby, to name a few. The sports industry is a highly dynamic field which reflects the wider social attitude and evolution. Amidst all this unpredictability, women’s sport is set to provide a growth opportunity for the sports industry.

In the UK, women’s football was banned from 1921 to 1971, and in the USA, it’s been only 50 years since Title IX came into effect – a law which prohibits gender-based discrimination in government-funded education programmes, including sports. In other areas of the world, it has not found the patronage that men’s sport has always had. This shows that women’s sport is young and there is a long way to go. This further highlights the monumental opportunity for rights-holders and brands alike.

Viewership on the rise

The UEFA Women’s Euros 2022 recently concluded in England with the host nation winning the championship after defeating Germany in the finals. The tournament was held across 10 venues spread over 25 days, culminating in a total of 31 matches. The English triumphed in the final at the historic Wembley Stadium against Germany on the back of an extra-time winner from Chloe Kelly. This is England’s first ever major tournament win in more than 56 years, and the records don’t stop there. The Euro 2022 final set records for both television viewership and stadium attendance, thereby highlighting the growing financial potential of the women’s game.

The final at Wembley Stadium was attended by 87,192 fans. This figure is a record for a major men’s or women’s Euro final. It has broken the previous record set by the Euro final of 1964, played between Spain and the Soviet Union at the Santiago Bernabeau stadium in Madrid, as well as surpassed the attendance for an international women’s game in Europe. At EURO 2022, over 574,000 people attended the matches, which also attracted over 300 million viewers worldwide. [2] There has been a 58% increase in viewing figures for UEFA EURO 2022 in comparison to the previous edition. [3] Furthermore, the European Broadcasting Union (EBU) members have also reported record TV viewing figures for the UEFA Women’s EURO England 2022.

A cumulative total of more than 1200 hours of live coverage of the EUROs was broadcast by the EBU members throughout the course of the tournament, reaching an audience in excess of 280 million.[4] It was also observed that the semifinals and the final produced excellent viewership numbers for national free-to-air broadcasters, with the popularity of these matches skyrocketing across Europe. The BBC has announced a peak audience of 17.4 million during the live coverage of the final, making it the most-watched women’s football match ever on UK television. [4] Additionally, there were 5.9 million online streams of the final via the BBC iPlayer and the BBC website and app. [4] Even in Germany, ARD reported record-breaking figures with a 21.8 million audience for the final, making it Germany’s most watched women’s football match ever. [4]

In the UK, the broadcast audiences for women’s sports have doubled from 2021 to 2022, according to new figures from the Women’s Sport Trust (WST).[9] This research also found out that people who watched women’s sport between January and July in 2022 rose to 36.1 million from 17.5 million in the equivalent period in 2021.[9] Furthermore, the WST also reported that the Women’s Super League saw an almost fourfold increase in viewing hours for the 2021-22 season as compared to the previous season.[10] The 2021-22 season recorded 34.048 million viewing hours up from the 8.83 million hours in the 2020-21 season.[10] These are record breaking figures which has resulted in almost a third of the UK population watching women’s sports in 2022.

In the United States of America, the home of the reigning Women’s World Cup winners and the most successful team in the competition, delivered an average audience of 971,000 with a peak audience of 1.2 million viewers for the final between England and Germany.[5] This is the most-watched match on ESPN networks in 2022 beating the previous high of 732,000 average viewers for the Wales-Ukraine Men’s World Cup Qualifying Playoff Final.[5] Previously, during the 2019 FIFA Women’s World Cup final between USA and Netherlands Fox streaming viewership was reported to be 14.3 million. In comparison, the 2018 FIFA Men’s World Cup final between France and Croatia had a total viewership of 11.4 million on Fox which means the women’s final attracted more than 25% higher audience in the United States.[5] 

In addition to the international scenario, the viewership is on the rise in club level competitions as well. According to UEFA’s report titled ‘The Business Case for Women’s Football’ the number of viewers for the Champions League Final in 2022 doubled as compared to 2021. With over 14 million views on the UEFA Women’s Champions League YouTube channel there were over 11.6 million views across the quarterfinals in the first season. With fans tuning in from over 230+ countries for this tournament it culminated into a record of 3.6 million global live viewership for the final on 21st May 2022 between Olympique Lyonnais and FC Barcelona.[6]

Women’s Football Fandom

Fandom of women’s football in Europe has been on a steep rise in recent years and is expected to grow further in the medium and short term. Currently, there are 144 million fans of women’s football in Europe, and that number is expected to rise to 328 million by 2033. Women’s football has one of the fastest-growing fan bases in sport, attracting both fans that are new to football and existing football fans. The UEFA report ‘Business Case for Women’s Football’ finds that almost 1 in 3 fans of the women’s game are new to football. [6]

An interesting fact about EURO 2022 is the huge participation of children in the mega spectacle. Around 100,000 out of the total 574,875 tickets sold across the tournament were child tickets. [7] The reason behind this surge can be attributed to the affordability of the tickets. The tickets for an adult and a child for the EURO 22 final ranged between £22.50 and £75, while those for a group stage game cost from £15 to £30. [7] Earlier, generations could and would watch football at all levels together. This was how the match-going baton was passed over to newer generations, expanding the fan base constantly. Football fandom is about the feeling of belonging to a community. Football fans want to experience the matchday atmosphere and they want to be a part of the collective. A newer generation of fans can be ushered in by making it affordable to watch live matches. EURO 2022 has given valuable lessons to the sporting industry to increase footfall, develop newer geographies and develop a newer generation of fans, which would be immensely important in the long run.

Way Forward for women’s sports

The current commercial value of women’s football in Europe is €116 million and is expected to increase six-fold to about €686 million by 2033.[6] These figures are forecasted on the back of value generated by domestic clubs, domestic leagues, and intercontinental competitions and an expected sponsorship value of €295 million by 2033. [6] Women’s leagues all around the world are attracting major sponsors and landmark broadcast deals. With a view on this considerable future growth, there are new women’s sports leagues being launched in various countries. In India, the Board of Control for Cricket in India (BCCI) is all set to launch the Women’s Indian Premier League (WIPL) to get underway in March 2023. The WIPL would consist of 6 franchises and there are already potential investors ready, including the existing Indian Premier League franchises along with other entrepreneurs and consortiums. [8] 

Owing to the unprecedented numbers and the growing popularity of the women’s game, many in the sporting industry believe that this is a watershed moment for women’s sports as a whole. EURO 2022 could be the much-needed launching pad for women’s sports to achieve its potential. It is important for the sporting industry to grab this opportunity with both hands and leverage technology to strategize for the future of women’s sports. Data-driven decision making backed by advanced analytics is required to attract this new fan base and build long-term relationships.

Even though these are encouraging signs, the road ahead has a few challenges too. Vinai Venkatesham, CEO of Arsenal Football Club, wants the women’s game to be financially sustainable over the next 10 years. Highlighting the immense opportunity in the WSL, he emphasized on finding new revenue streams and getting revenues closer to costs. One of the criticisms of women’s football has been its reliance on the money from the men’s game and Venkatesham believes this can change. It is essential to increase visibility to establish a major footprint in the fanbase, thereby reaching its full potential. It is critical for broadcasters and rights-holders to create a compelling product by understanding the desires of the fanbase to build exposure and revenue. If you would like to discuss further on similar topics and explore new developments in the Sports industry you can get in touch with me on my email: Mayank.Pawar@exlservice.com

References

1.     Dominic Grainger, WPP Sports Practice (2022, July 7). What is the future for Women’s sport? What is the future for women’s sport? | WPP

2.     Irene Garcia Perez, Bloomberg, Asia Edition (2022, August 1). Euro 2022 Smashes Football Records, Except Prize Money. Euro 2022 Smashes Football Records, Except Prize Money - Bloomberg

3.     UEFA.com (2022, July 26). UEFA Women’s EURO 2022 becomes most watched Women’s EURO in history. UEFA Women’s EURO 2022 becomes most watched Women’s EURO in history | Inside UEFA | UEFA.com

4.     EBU Operating Eurovision and Euroradio Press Release (2022, August 3). EBU Members on a high after record UEFA Women’s TV viewing figures. EBU Members on a high after record UEFA Women’s EURO TV viewing figures | EBU

5.     Mac Nwulu (2022, Aug). UEFA Women’s EURO 2022 Final Delivers ESPN’s Top Soccer Audience in 2022. UEFA Women’s EURO 2022 Final Delivers ESPN’s Top Soccer Audience in 2022 - ESPN Press Room U.S.

6.     UEFA.com (2022, August 16). The Business Case for Women’s Football. The Business Case for Women’s Football | Inside UEFA | UEFA.com

7.     Suzanne Wrack, The Guardian (2022, August 9). Women’s Euro 2022 showed how to attract a disengaged younger audience. Women’s Euro 2022 showed how to attract a disengaged younger audience | Football | The Guardian

8.     Ed Dixon, SportsPro Media (2022, August 16). Women’s IPL first season set for March 2023. Women’s IPL first season set for March 2023 - SportsPro (sportspromedia.com)

9.     Ed Dixon, SportsPro Media (2022, September 7). Women’s sport UK viewers double to 36.1m in 2022, says study - SportsPro (sportspromedia.com)

BBC Sports (2022, June 8). WSL: Viewing hours in 'near fourfold' increase according to new figures - BBC Sport