The Future of Women’s Sports in a $31 Trillion Economy

Women wield extraordinary economic power – and it’s only getting larger. Globally, women currently control an estimated $31.8 trillion in consumer spending and within a few years (by 2028) they are projected to control about 75% of all discretionary spending. These numbers are staggering. To put it simply, women are becoming the world’s most influential consumers. This economic clout will have ripple effects across all industries, and sports is no exception. As women’s share of spending approaches the $31 trillion mark, the implications for women’s sports are profound: from how leagues are funded, to how brands engage with female fans, to the opportunities female athletes will enjoy.

In this article, we’ll explore what this $31 trillion economy means for women’s sports. Why are brands and investors suddenly so keen on women’s leagues? What trends are emerging as we look toward the future? We’ll look at how sponsorships and contracts are evolving, and examine case studies like the WNBA, the Women’s World Cup, and the new Women’s Premier League in cricket. Finally, we’ll zoom out to the bigger picture of societal and economic shifts that are driving a new era for women in sports. Strap in – the business of women’s sports is set to surge, and here’s why.

What a $31 Trillion Spending Power Means for Women’s Sports

By 2028, women are expected to control about three-quarters of the world’s discretionary spending – an immense financial influence. This growth in women’s spending power is a game-changer for sports in several ways:

First, brands will follow the money. If women are making the bulk of purchasing decisions, advertisers naturally want to win their attention and loyalty. Sports have traditionally been a powerful way to reach consumers – but historically, sports marketing was aimed mostly at men, because men were perceived as the primary audience. Now that dynamic is shifting. Women not only watch sports (both men’s and women’s), but they also hold the purse strings for their households on many purchases. This means that companies see women’s sports as an ideal platform to engage female consumers directly. Instead of viewing women’s sports as a fringe interest, marketers now recognise it as a direct channel to the world’s most important consumers.

Secondly, more women with disposable income means more support for women’s sports. Fans invest in their sports passions – through buying tickets, merchandise, subscriptions, etc. As more women attain higher income and wealth, they are in a better position to spend on sports they enjoy. This could translate to higher attendance at women’s games, more buying of jerseys and gear of women athletes, and more clicks/subscriptions for women’s sports content. In other words, women’s leagues stand to benefit from a growing base of financially empowered fans. We’re already seeing hints of this: for example, the 2023 Women’s World Cup had record attendance and merchandise sales, driven in part by strong support from female fans worldwide.

From the perspective of sports businesses (leagues, teams, broadcasters), the $31 trillion female economy is a massive opportunity. It’s prompting them to tailor offerings to attract female viewers and consumers. We see networks adding more women’s events to their lineup (because they know women fans will watch, and bring their purchasing power with them). We see teams upping their marketing towards women and families, making the game-day experience more inclusive. The bottom line: as women dominate consumer spending, women’s sports transform from a nice-to-have into a strategic must-have for the sports industry’s growth.

How Brands and Advertisers Will Respond

Brands and advertisers are already adjusting their strategies to align with the rising economic influence of women – and this is accelerating as we approach 2028. Here’s how we expect them to respond in the realm of sports:

• Significant Budget Increases: Companies are earmarking more of their marketing budgets for women’s sports. According to recent industry surveys, a whopping 82% of brands plan to increase their investment in women’s sports in 2025
• Marketing Messages that Resonate: Advertisers will craft campaigns that speak to values important to women, often leveraging women’s sports as the backdrop. For instance, we might see more commercials that celebrate women’s empowerment, teamwork, and athleticism – themes that align well with women’s sports. Brands understand that authenticity is key: merely slapping a logo on a women’s event isn’t enough. We already see examples like Nike’s powerful ads featuring women athletes (even airing during big events like the Super Bowl to underscore their importance), or Dove’s sponsorship of a women’s soccer team promoting body positivity. As women control more spending, brands will double down on messaging that forges an emotional connection with female fans through sport.
• New Product Categories in Sports Sponsorship: With more women making purchasing decisions in categories like healthcare, finance, and consumer goods, these industries are now more interested in women’s sports as sponsorship vehicles. For example, we’re seeing growth in sponsorship from sectors like pharmaceuticals, fashion, and consumer tech in women’s sports – areas that in the past weren’t prominently advertising in sports. A case in point: skincare and beauty brands have sponsored events like the Women’s Euro and WNBA, recognizing that a significant portion of the audience is female. We can expect categories like home goods, travel, and retail (where women often drive buying decisions) to ramp up their presence in sports marketing, particularly targeting women’s sports audiences.
• Community and Grassroots Engagement: Another way brands will respond is by investing at the grassroots level, not just the professional level. Since part of appealing to women consumers is showing a genuine commitment to women’s sports, many companies are funding girls’ youth sports programs, college tournaments, and development leagues. This both builds goodwill and helps cultivate the next generation of athletes and fans. For example, insurance brand Allianz sponsors training camps for young female soccer players in addition to high-profile pro events. Expect more of this holistic approach, wherein brands create initiatives around women’s sports participation (scholarships, clinics, mentorship programs) as a way to deepen their connection with the female audience.

In short, advertisers will increasingly treat women’s sports as mainstream, not a side project. They’ll put real money and creative energy behind it. The era of half-hearted token ads during a women’s game is fading; it’s being replaced by full-fledged marketing strategies centered on women’s sports. This response is both a reaction to women’s economic power and a recognition that the audiences for women’s sports are growing and are valuable in their own right. By aligning their campaigns with women’s sports, companies position themselves to win the hearts (and wallets) of the demographic that will drive $31 trillion in spending.

Emerging Investment Trends: Sponsorships, Contracts, and Funding on the Rise

The surge in interest isn’t only coming from advertisers. Investors and sponsors are also infusing women’s sports with unprecedented capital, leading to several emerging trends:

Bigger Sponsorship Deals and Endorsements

Sponsorships in women’s sports are not just more numerous, they’re also bigger in scale. As viewership and attendance records are broken, brands are willing to sign larger checks than ever before to be affiliated with top women’s sports properties. We’ve seen companies committing multi-year, multi-million dollar deals for naming rights and partnerships that would have been unheard of a decade ago.

One trend is that brands are seeking long-term partnerships with women’s leagues, indicating confidence in sustained growth. For example, Nike and Microsoft have significant ongoing sponsorships with the WNBA, and just recently, Google and Ally became founding partners in new women’s sports initiatives with multi-year commitments. Endorsement deals for individual female athletes are also getting richer: tennis superstar Naomi Osaka and skier Eileen Gu have landed sponsorship contracts on par with top male athletes. And in soccer, players like Sam Kerr and Alex Morgan now feature in global advertising campaigns for mega-brands (Visa, Coca-Cola, etc.), reflecting high endorsement values.

A concrete illustration: the Women’s Super League in England landed that record £30+ million title sponsorship with Barclays. demonstrating that even domestic women’s leagues can command serious money. Similarly, the U.S. women’s national soccer team has more sponsors today than ever, including corporate giants like Visa, AT&T, and Budweiser specifically supporting the women’s side independent of the men’s team. All this points to a future where sponsorship of women’s sports will be a standard part of marketing budgets, not an afterthought. Industry data already showed women’s sports sponsorships up ~20% year-over-year in 2022. and that growth is trending upward as we head toward 2028.

Larger Contracts and Pay for Athletes

With more money flowing into leagues, we are starting to see bigger contracts for female athletes and bigger prize purses at major events. This trend is likely to accelerate. When leagues have higher revenues from media rights and sponsorships, they can pay players more competitively and attract top talent (and thus improve the on-field product, creating a virtuous cycle).

Some recent milestones give a taste of what’s to come:

• In U.S. soccer, a new collective bargaining agreement ensured that for the first time the U.S. Women’s National Team players will earn equal pay to the men’s team for international matches and tournaments. This was a landmark moment supported by increased revenue around the women’s game (such as World Cup prize money increases and sponsorship) that made pay equity financially feasible.
• In basketball, WNBA star Breanna Stewart made headlines by signing high-value marketing deals and advocating for charter flights and better conditions, pushing the league toward higher standards that will likely reflect in future salaries. The WNBA’s salary cap and player max salaries have grown under its latest bargaining agreement, and if revenues keep rising as projected, we could eventually see the first million-dollar annual salary for a WNBA player within a few years – something once thought impossible in that league.
• Internationally, some women’s soccer club players in Europe are now earning six-figure salaries, and clubs are beginning to pay transfer fees for female players. The top players in the Women’s Super League (England) or France’s Division 1 Féminine can earn incomes that allow full-time professionalism and comfort, a stark change from years past. As club competitions gain viewers (e.g., the UEFA Women’s Champions League now draws significant TV audiences), sponsors and owners invest more, boosting player pay.

This trajectory suggests that the pay gap in sports will narrow: female athletes will still on average earn less than male athletes in 2028, but the gap will be much smaller than today, especially at the elite level. For investors and brands, that’s a good thing – it means women’s sports is retaining talent and becoming more competitive and entertaining, which in turn attracts more fans and sponsors.

Dedicated Funding and Investment Funds

Another exciting trend is the emergence of dedicated investment funds and venture capital aimed at women’s sports. Investors see that women’s sports properties (teams, leagues, media startups) are undervalued assets with huge growth potential, so they are starting funds specifically to capitalize on this opportunity.

For example, a private equity firm called The Monarch Collective recently raised $100 million earmarked for women’s sports investments. This fund, led by industry veterans, plans to invest in women’s leagues, teams, and related media ventures – essentially betting that these entities will rise significantly in value. Similarly, an investment group named Mercury 13 launched a €100 million fund to acquire and elevate women’s football clubs in Europe. Even traditional VC firms are looking at women’s sports startups (such as dedicated streaming platforms or merchandise companies) as a hot area.

We’re also seeing major capital raises for new leagues and teams. In the United States, a group of investors (including basketball legend Magic Johnson) announced plans for a new women’s professional softball league with strong funding. In 2022, the WNBA itself raised $75 million from investors – the largest-ever capital raise for a women’s sports property – to fund growth and expansion. And in women’s volleyball, a startup league called LOVB (League One Volleyball) secured $100 million in new funding to build a pro league and youth development system (lovb.com.)

All this dedicated funding is important because it provides the resources to professionalize and market women’s sports properly. Instead of shoestring budgets, teams can now hire top coaches, build training facilities, and improve production quality for broadcasts. This in turn makes the product more appealing to fans and sponsors. By 2028, we could easily see multiple women’s sports unicorns (ventures valued at over $1 billion) – perhaps a media platform specializing in women’s sports content, or a flagship team or league with a sky-high valuation. What was once considered a risky investment is now seen as a smart play, with Goldman Sachs even forecasting women’s sports to grow into a multi-billion-dollar ecosystem in coming years.

Case Studies: WNBA, Women’s World Cup, and Women’s Premier League (Cricket)

To understand how these trends are playing out, let’s look at a few real-world case studies of how different women’s sports properties are capitalizing on this shift:

WNBA (Women’s National Basketball Association)

The WNBA, long the premier women’s basketball league globally, is entering a new era of growth. After years of steady but slow progress, the WNBA is now riding a wave of investment and popularity. Recent seasons have seen record viewership, rising attendance, and an influx of new sponsors.

In 2023, the WNBA Finals drew the highest TV ratings the league had seen in over a decade, and the league reported its highest total season attendance since the early 2000s. This boost is partly thanks to exciting young superstars (like Breanna Stewart and A’ja Wilson) and increased coverage on ESPN and ABC. But it’s also driven by strategic investments: the WNBA secured a $75 million capital raise to improve marketing and expand the league. The results are tangible – marketing around the WNBA is far more visible now, and sponsors are responding enthusiastically.

New corporate sponsors have joined the WNBA’s roster, including some that, as noted, had never sponsored sports before. For example, Skims, a women’s apparel brand, became an official sponsor and found creative ways to engage (it even launched WNBA-branded clothing). Other newcomers like Bumble (a female-focused dating app) and Glossier (beauty products) signed partnerships, recognising the WNBA’s audience aligns with their consumer base. Traditional sports advertisers like State Farm, Google, and Coca-Cola have also increased their WNBA activations. State Farm even centered an entire ad campaign around the league during the playoffs.

Crucially, the WNBA is expanding for the first time in years. It announced plans to add at least two new teams in the coming seasons. One expansion franchise in the Bay Area (San Francisco) was awarded with a record expansion fee of around $50 million – a startling figure considering previous expansion fees were just $1–2 million. This shows investors are confident in the WNBA’s future growth and are willing to pay a premium to be part of it. The new owners in San Francisco and an expected team in Portland or elsewhere will invest in local marketing and facilities, further boosting the league’s profile.

All of this illustrates the WNBA’s transformation from a league that was surviving on goodwill to one that is thriving as a business. By 2028, the WNBA could very well double its media rights revenue (with a new TV deal on the horizon) and feature more teams, more games on national TV, and players with higher salaries supported by that growing revenue. It stands as a case study in how aligning with the broader empowerment movement (women’s spending power, push for equality) and smartly leveraging it – through sponsorships and expansion – can turn a corner for a women’s sports league.

FIFA Women’s World Cup

The FIFA Women’s World Cup has rapidly become one of the biggest sporting events in the world in its own right. The 2023 Women’s World Cup in Australia and New Zealand demonstrated the event’s massive potential:

• It set records with approximately 2 billion viewers globally tuning in across the tournament
• The tournament also broke attendance records, with packed stadiums. Australia’s matches regularly had 70-80,000 fans, and overall attendance crossed 1.9 million, the highest ever for a Women’s World Cup
• Commercially, sponsorship for the Women’s World Cup hit new highs. FIFA introduced for the first time dedicated women’s World Cup sponsors (separate from the men’s tournament sponsors). Companies like Visa, Adidas, and Coca-Cola heavily activated around the event, and some brands (e.g., Xero, a software company) sponsored specifically the women’s World Cup, not the men’s, to show support and gain visibility in that space. The sponsor roster was nearly as full as the men’s World Cup, indicating robust corporate interest.
• Perhaps most importantly, the prize money tripled to $110 million (from $30M in 2019)

The Women’s World Cup case study shows how a top-tier women’s sports event can become a global spectacle and a commercial success. It has inspired many stakeholders: more young girls saw heroes on the world stage (driving grassroots participation up), broadcasters saw that investing in women’s sports yields huge audiences, and sponsors saw an engaged worldwide demographic to connect with. Future editions (2027, 2031) will likely continue this trajectory, possibly fetching even larger media deals and perhaps even turning a profit for FIFA (which was not the case in early years). The $31 trillion economy of women’s spending power is on full display here – travel companies, apparel companies, consumer products all know that a significant portion of that World Cup audience making purchasing decisions are women, and they plan accordingly by being visible at the event.

Women’s Premier League (Cricket) – India’s $500M+ Gamble

A fascinating case study comes from India, where cricket is king. In 2023, India launched the Women’s Premier League (WPL), a professional T20 cricket league, amid enormous investment and fanfare. It’s a prime example of betting big on women’s sports in a growing economy.

The Board of Control for Cricket in India (BCCI) auctioned five franchise teams for the inaugural WPL – and the response blew past expectations. The five teams were sold for a combined ₹4,670 crore (approximately $572 million) This jaw-dropping figure surpassed the franchise prices of some other established sports leagues. For example, one WPL team (based in Ahmedabad) sold for about $158 million alone. These valuations underscore that investors believe women’s cricket in India will be extremely lucrative in the long run, tapping into the country’s huge cricket fanbase, which includes hundreds of millions of female fans. In fact, the WPL team auction bids even exceeded the first men’s IPL team auctions back in 2008 in some cases, signaling how times have changed.

Following the team sales, the WPL secured a media rights deal with Viacom18 worth ₹951 crore (~$117 million) for 5 years. This means roughly $23 million per year for broadcasting the women’s matches – an unprecedented sum for women’s cricket. The broadcaster streamed the games widely (even offering free digital streaming to build audience) and lined up 35+ advertisers for the WPL’s first season broadcasts. Companies like Tata and Dream11 (fantasy sports) came on as sponsors, showing that big brands in India consider the WPL a premium property to associate with.

The inaugural season of the WPL was a hit: in its opening week, the league reached over 50 million viewers across India, and the final match reportedly drew a peak concurrent viewership in the millions on streaming. For a brand-new women’s league, these numbers are very promising. On the ground, the matches in Mumbai had enthusiastic crowds, and the standard of play was high, with international stars from Australia, England, etc., joining India’s best. Notably, some of the top female players earned around $130,000–$410,000 in the player auction to join teams – these are life-changing contracts in women’s cricket, enabled by the influx of money. For example, Indian batter Smriti Mandhana was signed for about ₹3.4 crore (~$410k), one of the highest salaries in women’s cricket globally.

This Women’s Premier League case demonstrates a few key things: the power of merging women’s sports with an economy where female consumers are significant and sports fandom is huge. India has a massive population with growing income, and importantly, a large portion of TV viewership of cricket is women. By establishing the WPL, the cricket board essentially created a new product that caters to that audience and gives sponsors additional exposure. It’s a bet that the millions of women who love cricket will support a league of their own, and early signs indicate they will. The WPL could inspire similar approaches elsewhere – for instance, other countries or other sports might launch women’s leagues with major investment rather than starting small. It’s a model of going big out of the gate, backed by the notion that women’s sports can stand on their own commercially.

If the WPL continues on this trajectory, by 2028 it could be one of the richest women’s sports leagues in the world, second perhaps only to the WNBA or UEFA Champions League in rights fees. Its success would also prove to any doubters that women’s sports can capture huge markets if marketed correctly. The league is essentially compressing into a few years the kind of growth that took decades for others, thanks to India’s unique market conditions and the overall tide of women’s sports momentum.

The Bigger Picture: Societal and Economic Shifts Changing the Sports Industry

The rise of women’s sports is not happening in isolation. It’s part of a bigger picture of societal and economic change. Understanding these broader trends helps explain why the sports industry is transforming now:

• Societal Push for Gender Equality: Over the past decade, there has been a powerful global movement advocating for women’s equality in all fields – workplace, politics, and yes, sports. Campaigns for equal pay (like the U.S. women’s soccer team’s legal fight), the #MeToo movement empowering women’s voices, and increased visibility of women leaders have all contributed to a culture that expects and values women’s achievements. In sports, this means there is greater public and media interest in women’s competitions than in the past. Broadcasters know that showcasing women’s sports is not just morally right but also expected by viewers who want to see representation. This cultural shift has effectively paved the way for the economic changes; sponsors and networks have the social license and encouragement to invest in women’s sports and often get praised for it. It’s “good PR” to be seen as a champion of women’s sports, which certainly incentivizes companies to step up.
• Women as Decision-Makers and Sports Fans: As we noted, women now drive a huge portion of consumer spending. They are also nearly half of sports fans. Any notion that sports is a “men’s only” domain is outdated – women make up roughly 40-50% of the fanbase in many major sports. For example, women accounted for about 45% of the NFL’s Super Bowl viewership in recent years, and similarly high portions in the Olympics. This has forced the sports industry to rethink old marketing approaches. Leagues are now actively trying to court female fans, and one way to do that is elevating women’s sports (because it’s something many female fans are especially interested in) and promoting female athletes as icons. The industry has realized that growing the overall sports audience in a saturated market requires engaging more women and girls. That’s why you see, for instance, the NCAA putting more emphasis on the women’s March Madness tournament – they know it can draw in new viewers and create more total interest in college sports, rather than just slicing the same pie.
• Unbundling of Deals: Traditionally, women’s teams or events were often bundled with men’s in sponsorship deals – for example, a company would sponsor a men’s team and “get” the women’s team as add-on visibility for free or nominal cost. Now, as women’s sports prove their standalone value, we see a gradual unbundling of these deals
• Media Technology and Streaming: Another factor aiding women’s sports is the rise of digital streaming and social media. It’s easier than ever for niche content to find its audience without needing a primetime TV slot. Dedicated streaming services and social platforms have given women’s sports a way to grow their followings organically. For example, the NWSL used Twitch (a streaming platform) to air games globally, finding new international fans. Women’s sports highlight clips often go viral on social media, attracting younger viewers. This tech-driven democratization of sports content meant that by the time networks got on board, women’s sports already had millions of engaged followers. It essentially reduced the risk for broadcasters to give women’s sports a chance. Now that they have, the synergy of TV and online media is pushing women’s sports further into the mainstream. By 2028, we might see women’s sports innovating in direct-to-consumer streaming or interactive fan experiences, keeping them on the cutting edge of media – something that can influence the whole sports industry.
• Changing Consumer Expectations: Today’s consumers, especially younger generations (Millennials and Gen Z), expect brands and entertainment properties to reflect their values. There is a growing expectation of diversity and inclusion. For the sports industry, this means that having only men’s sports heavily promoted feels incomplete or even alienating to many in these generations. Leagues and sponsors recognize that to stay relevant with younger audiences, they need to champion women’s sports and the stories of female athletes. We see broadcasters during co-ed events (like the Olympics) giving equal billing to women’s competitions because they know that’s what viewers want. Also, men’s sports fans themselves are increasingly embracing women’s sports once they’re exposed to the high quality of play – the old biases are fading. In many households, dads and daughters might watch WNBA games together just as they watch NBA games, for instance. The sports industry is adapting to this more inclusive fan culture. When the NCAA women’s final in 2023 outdrew several of the men’s Final Four games in TV ratings

In essence, women’s sports are rising on a tide of both economic might and social progress. The $31 trillion economy is one side of the coin; the other side is a society that increasingly demands equality and representation. Together, they form an unstoppable force that is reshaping how sports are marketed and consumed. The industry is moving toward a more balanced model where women’s sports are not a mere afterthought but a core component of business strategy.

Conclusion: Women’s Sports as a Growing Business Opportunity

Not long ago, women’s sports were often viewed as an act of philanthropy or PR – something companies did to “do good” rather than to drive profit. That era is over. Women’s sports have proven to be a savvy business opportunity, one that is growing faster in many respects than the traditional sports market.

Looking ahead to the next few years, here’s what we can expect:

• Continued Revenue Growth: Women’s sports leagues will see significant increases in revenue from media deals, sponsorships, and ticket sales. We may witness the first women’s sports league reaching the $1 billion valuation milestone. Brands that invest now could reap major rewards as franchise values climb (much like those who invested early in UFC or esports saw huge appreciation).
• Integration into Mainstream Marketing: It will become standard for major marketing campaigns to include women athletes or teams. You might see the day where, say, a Pepsi Super Bowl commercial features as many female sports stars as male ones, reflecting parity in marketing presence. Big events like the Women’s World Cup or WNBA Finals might attract advertising rates approaching those of top men’s events, especially if viewership trends continue rising.
• Innovation and New Ventures: The growth opportunity will also spur innovation. We could see new women’s sports leagues (in sports that don’t yet have them, or new formats), more cross-border collaborations (e.g., a Women’s Club World Cup in soccer with global sponsors), and tech-forward fan engagement tailored to women’s sports audiences. Entrepreneurs will launch startups around merchandise, betting, or fitness related to women’s sports, contributing to an ecosystem that creates jobs and economic activity.
• Social Impact Aligned with Profit: One of the most encouraging aspects is that this business boom in women’s sports also carries positive social impact – empowering women and girls through sport. Unlike some industries where profit can conflict with social good, here the two go hand in hand. The more women’s sports succeed commercially, the more role models are spotlighted, and the more opportunity at grassroots levels for girls to play and aspire to careers in sports. This virtuous cycle means stakeholders from governments to nonprofits will also support the growth (through initiatives like building facilities or mandating equal coverage), further fueling the engine.

For the general sports fan, all of this means more entertainment and choices. We’ll have high-quality competitions year-round, with women’s leagues filling what used to be off-seasons or complementing the sports calendar. The storytelling and personalities in sports will be richer because they’ll include the journeys of female athletes overcoming odds and making history.

From an investor or advertiser standpoint, women’s sports are no longer a niche – they are an essential piece of the $31 trillion consumer economy puzzle. Companies that embrace this reality stand to gain market share and brand strength; those that ignore it may fall behind or appear out of touch.

In conclusion, women’s sports in a $31 trillion economy is a story of potential being realized. It’s a story of inclusion yielding innovation and profit. It’s turning what was once considered a “small market” into a global powerhouse of fandom and commerce. As we approach 2028, it’s increasingly clear that the future of sports will be shaped equally by women and men – on the field, in the boardrooms, and in the hearts of fans. And that future, driven by both social progress and economic wisdom, looks very bright indeed for women’s sports.

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