Simone Biles will compete on the balance beam at the USA Gymnastics Olympic Trials on Sunday. … [+]
One of the biggest sports news for 2024 is the continued growth in the popularity of women's sports. Viewership and attendance for women's sports are soaring, driving increased media rights fees and valuations. Advertisers are taking notice, and in March, WPP's GroupM, one of the world's largest media buying companies, announced a commitment to double the advertising dollars allocated to women's sports. GroupM's clients include Ally, Coinbase, Discover, Google, Mars, Nationwide, Unilever and NBCU's Universal Pictures.
The continued growth of women's sports is impacting the Olympic movement. The upcoming Summer Olympics in Paris will see gender parity for the first time, with half of the 10,000+ athletes participating being women. The increase in women participating in the Olympics has been slow and steady. In 1964, only 13% of athletes were female, but by 1984, that figure had risen to 23%, by 2012, 44%, and by 2020, 48%. By comparison, in 1900, when Paris first hosted the Olympic Games, there were only 22 female athletes (2.2%) and they participated in just two sports: tennis and golf.
In Paris, 329 medal events will be held, 152 of which will be women's and 20 mixed. Additionally, 28 of the 32 sports will be fully gender-balanced. The governing body, the IOC, will require each country to have at least one female and one male flag bearer at the Opening Ceremony. The Olympics will also see improvements in broadcasting women's events; the IOC plans to air the men's and women's events equally in primetime. Additionally, for the first time, the final event of the Olympics will be the women's marathon, instead of the traditional men's marathon.
“The Olympic Games are a rare opportunity for female athletes to receive equal attention as their male counterparts. We know that each Olympic Event has an optimal time slot for global broadcast, and we have adapted the schedule to ensure a balanced number of medal events and total competition time for both genders within those times,” IOC member Nawal El Moutawakel said in a written statement.
As part of its 7,000 hours of broadcast time, NBCU plans to broadcast premier events from athletics, swimming, gymnastics, and other newsworthy events in primetime. As women win medals and get more coverage, NBC has noticed an increase in female viewers. Kentucky Derby These are the only two major television sporting events that consistently draw more female viewers than male viewers.
“At NBCUniversal, our Olympic coverage has always been committed to showcasing the best athletes in the world, regardless of gender, and Paris 2024 will be the first Olympic Games in history to feature an equal number of female and male athletes,” said Mark Marshall, chairman, Global Advertising and Partnerships, NBCUniversal. “Advertising with female-focused content has been one of the most common requests we've received for this Olympic Games, and we're incredibly proud to dedicate more than half of our primetime coverage to women's sport in our biggest live event of the year.”
Additionally, reports suggest that the Paris Olympics could bring in more than $1.4 billion in advertising dollars for NBCU, with an estimated $400 million coming from those involved in Olympic marketing, including women's sports, for the first time. Many executives believe there is a huge marketing opportunity in marketing to women at the Paris Olympics and beyond.
Jenny Wall, Chief Marketing Officer at VideoAmp, said, “The rise of women's sports is a seismic shift in the marketing world, providing unprecedented opportunities for brands to drive awareness and connect with passionate audiences. Professional female athletes serve as influential role models for young girls and inspire a new generation of powerful female athletes and fans. From Sheryl Swoopes' groundbreaking Nike shoes to Mia Hamm's multi-brand endorsement deals to Puma's early investment in Serena Williams, stars in female sports have always had passionate fanbases, but a significant gap remains. Shockingly, 90% of sponsorship still goes to men's sports, which have less than 50% of the engagement of women's sports. With gender parity finally achieved in the 2024 Olympics, it's time for brands to follow suit. Investing in women's sports isn't just good business, it's great business.”
Jo Kinsella, President of XR Extreme Reach, said: “From the foundations laid by pioneers like Billie Jean King to the trailblazing achievements of athletes like Caitlin Clark, we have come a long way. The incredible women competing in this year's Olympics will not only make history, but will also light the way for future generations of young girls who dream of following in their footsteps. These athletes are redefining what is possible and igniting the flames of ambition in every young girl watching as they pioneer a brighter future.”
Natalie Bastian “As women's sports continues to enjoy momentum, female athletes are set to take center stage at this year's Olympics,” said global chief marketing officer Thies in an email. “The 2024 Summer Olympics in Paris is a great opportunity for brands to ride the wave of growing popularity of women's sports. Viewership numbers are set to be record-breaking this year, and a focus on female athletes will allow advertisers to connect with a highly engaged audience.”
“Ultimately, the Paris Olympics is an opportunity to raise the profile of women's sports, celebrating both the athletic talent of female athletes and their broader impact on the world stage. It also provides an opportunity for brands to raise the importance of supporting female athletes in line with their mission of equality,” said Tania Salaarvand, executive vice president of hospitality and entertainment at Globant.
Jenn Chen, CRO and president of Connatix, added: “It's been exciting to see the increased attention on women's sports this year, with momentum building even more in the lead up to the Paris Olympics. A new type of sports fan is emerging — they're younger, they're female, and they're more interested and paying attention than ever before not only to the games but also to the athletes themselves.”
Team USA will have 314 women (53%) of the 592 athletes competing in Paris. The women's field will feature many familiar faces to viewers. Seven-time medalist Simone Biles, arguably the greatest female gymnast of all time, will be competing in her third Olympic Games. Swimmer Katie Ledecky, who has already won seven gold medals, will be competing in her fourth Olympic Games. Track and field sprinter Sydney McLaughlin-Levrone, a two-time gold medalist at the Tokyo Olympics, will also be competing. At last month's Olympic Trials, McLaughlin-Levrone broke her own world record in the 400-meter hurdles.
The U.S. women's basketball team will also be looking to win its eighth consecutive gold medal. While first-year WNBA stars Kaitlyn Clark and Angel Lece are not on the team, 42-year-old Diana Taurasi will be looking to win her record sixth gold medal. The U.S. women's soccer team will be looking to win its first gold medal since 2012 (and fifth overall); however, with the exception of 2016, the U.S. women's team has won a medal in every Olympic Games since the sport began in 1996. Without big names Megan Rapinoe and Alex Morgan on the team, the team will look to captain and three-time Olympian Lindsey Horan for leadership.
In recent years, women on the U.S. team have won more medals than men, despite competing in fewer sports. The U.S. women, who won a record 66 medals at the Tokyo Olympics, would have been fourth in medal counts (behind the U.S., China, and Russia) if they were an independent nation. Below are the medal counts for the past four Summer Olympics:
Gold Silver Bronze Total % US Medals
2008 15 25 16 56 50.0%
2012 30 13 15 58 55.8%
2016 27 17 17 61 50.4%
2020 23 22 21 66 58.4%
Source: S&P
Leading up to the Paris Games, NBC's coverage of the U.S. Olympic Trials drew a significant audience. With Simone Biles topping the Olympic Trials, NBC and Peacock averaged 7.6 million viewers in primetime, making it the most-watched Olympic Trials telecast in eight years. NBC's live coverage of the U.S. Olympic Swimming Trials averaged 3.2 million viewers in primetime on NBC and Peacock, up 20% from the 2021 Trials. At the Trials, Katie Ledecky won three events.
Besides the record viewership of the NCAA Women's Basketball Tournament, other women's sports have also garnered attention among viewers. For example, an average of 3.4 million viewers tuned in to watch tennis star Coco Gauff win the 2023 U.S. Open, the most ever for a major women's championship match. Last year, golf's U.S. Women's Open more than doubled in viewership compared to the previous year. According to S&P, the volleyball match between the Nebraska Cornhuskers and the University of Nebraska at Omaha Mavericks drew an audience of 92,003, setting a world record for a women's sporting event.
For the first time, Deloitte predicts that revenue from women's elite sport will surpass $1 billion in 2024, reaching a total of $1.28 billion – at least 300% higher than in 2021.
