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Driving Change: Investing in Women’s Sports for Equity and Representation

SpeakerS:

Jocelyn Moore, DraftKings, OppFi, Omaze, Independent Board Director
Alexys Feaster, Founder & CEO, The Kinship Advisors
Diane Gotua, Advisor, Mitchell & Ness
Ticha Penicheiro, Former WNBA Basketball Player, VP, On Time Agency
Christine Simmons, Founder CEO, Alis Volat Propriis, LLC

“There's a huge gender gap in pay, sponsorship, and facilities. Male athletes earn on average 21 times more than female athletes.” Jocelyn Moore
“Corporate sponsors want to invest in women's sports because it's profitable now. It's not a charity case or a tax write-off.” Ticha Penicheiro
“Making sure that brands show up and represent that same nature will be critical to the continuance of the meteoric rise that we're seeing.” Christine Simmons
“We hear about media rights deals all the time—they get all the press—but there's so much more to the investment opportunity, whether it's naming rights, sponsorships, ticketing, merchandising—the list goes on and on.” Diane Gotua
“We can't have this conversation without talking about young girls. Let's take a step back—how are we investing in young girls and communities to drive long-term impact?” Alexys Feaster

Key takeaways:

  • Forecasted revenue increase: Women’s elite sports are projected to generate over $1 billion in revenue in 2024, marking a 300% increase in the industry’s valuation. 
  • Historic media rights deals: The NCAA’s 2024 season commenced under a new $920 million ESPN deal, with over half allocated to the women’s March Madness Tournament, showcasing increased investment in women’s sports media rights. 
  • Salary improvements: The average WNBA salary increased from over $102,000 in 2022 to $116,000 in 2024, indicating progress, albeit at a slow pace. 
  • Introduction of charter flights: For the first time in 27 years, WNBA teams have access to charter flights, improving players’ travel conditions and overall professionalism of the league. 
  • Facility enhancements: Teams like the Las Vegas Aces and Seattle Storm have invested in their own facilities, contributing to better training environments for female athletes. 
  • Disparities highlighted: Male athletes earn on average 21 times more than female athletes, with significant gaps in sponsorship and facilities as well. 
  • Comparison caution: While recognizing disparities, it’s important to compare the WNBA’s progress over its 27-year history rather than directly with the NBA’s 75 years, acknowledging different growth trajectories. 
  • Beyond media rights: Investment opportunities in women’s sports extend to naming rights, sponsorships, ticketing, and merchandising, not just media deals. 
  • Authentic engagement: Brands like Ally Financial have tied their destiny to women’s sports, showing how corporations can authentically drive fan engagement and promote equity. 
  • Influence on youth: The presence of female role models in sports inspires young girls, something that was lacking in past generations. 
  • Unapologetic representation: Female athletes today are embracing their authentic selves, which attracts more attention to women’s sports and encourages societal shifts in perception. 
  • Grassroots development: Emphasizing the need to invest in young girls and communities to drive long-term impact in advancing gender equity in sports. 
  • Athletes as change agents: Athletes are leveraging their platforms for social impact, contributing to greater equity and representation both on and off the field. 

Action items:

  • Cross-Sector collaboration: Encourage partnerships between businesses, media, and sports organizations to invest in women’s sports infrastructure and development programs. 
  • Financial incentives: Provide more lucrative sponsorships and endorsement deals to female athletes to narrow the pay gap. 
  • Storytelling initiatives: Develop campaigns that highlight the stories of female athletes to build stronger connections with fans and inspire the next generation. 
  • Broadcast opportunities: Secure more broadcasting deals for women’s sports to increase exposure and revenue streams. 
  • Facility investments: Allocate funds for state-of-the-art training and competition facilities dedicated to women’s teams. 
  • Travel accommodations: Ensure consistent provision of charter flights and superior travel conditions for female athletes. 
  • Community programs: Invest in local initiatives that encourage girls’ participation in sports from a young age. 
  • Educational opportunities: Provide resources and programs that educate young athletes about career opportunities in sports beyond playing. 
  • Fan engagement platforms: Utilize technology to enhance fan interactions, such as interactive apps and virtual events. 
  • Data analytics: Use analytics to understand audience demographics and tailor marketing strategies accordingly 
  • Equal pay legislation: Support policies that aim to reduce the gender pay gap in sports. 
  • Funding for women’s sports: Lobby for increased funding at the national and international levels to support women’s athletic programs. 
  • Empower athletes: Encourage athletes to use their influence to drive social change and advocate for equity.
  • Social responsibility initiatives: Partner with athletes on community projects that address broader issues of inequality.

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