Why Investing in Women's Sports Is Bigger Than Most Realize

Bloomberg OriginalsAbout 2 min readJun 20, 2025Watch original
THE SUMMARYAI-generated

Key Concepts:

  • Women's Sports as a Mega-Trend
  • Fan Acquisition Funnel (Non-Fan -> Casual Fan -> Avid Fan)
  • WNBA Viewership vs. Media Rights Discrepancy
  • Future Growth Potential of WNBA Media Rights

Women's Sports as a Mega-Trend

The speaker identifies women's sports as a "mega-trend" and a "mega-theme" worthy of support from various angles: as a fan, for engagement, and as an investment opportunity. The speaker emphasizes the incredible talent of female athletes, suggesting they have been historically under-marketed.

The Fan Acquisition Funnel

The speaker introduces the concept of a "funnel" for fan acquisition. The goal is to convert individuals who are not currently fans into casual fans, and then nurture those casual fans into becoming avid fans. This funnel approach is presented as a fundamental strategy for growing the fanbase of any sport.

WNBA Viewership and Media Rights Discrepancy

The speaker highlights a significant disparity between WNBA viewership numbers and the media rights revenue the league receives. While WNBA viewership is stated to be approximately 30% of the average NBA game viewership, the WNBA only receives about 2% of the media rights money compared to the NBA. This discrepancy is presented as a clear indicator of undervaluation and future growth potential.

Future Growth Potential of WNBA Media Rights

The speaker poses a rhetorical question about the future of WNBA media rights, implying that they are poised for substantial growth. The argument is based on the current undervaluation of the WNBA relative to its viewership numbers, suggesting that media rights deals will inevitably increase over time to better reflect the league's popularity and engagement.

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