Women in Sport: Sponsorship Growth
We know through the Fan Project that women’s sports is the path to growth for the entire sports industry and now is the time to invest. The growth is undeniable, but are the changing dynamics of the sports landscape impacting how much these athletes are getting paid?
We are going to look at data from 2010 and 2020 to demonstrate the changes that have happened in the industry over time. Looking at total earnings, winnings, and endorsements.
Source: Forbes
Source: Forbes
Here are the key points we can extract from this data.
The Top Earners are Making More
Naomi Osaka is bringing in roughly $13 million more than Maria Sharapova was in 2010 in the top spot. Serena Williams and Osaka are making similar amounts to their male counterparts such as Rafael Nadal and Novak Djokovic.
The Rest are Making the Same
Despite the significant growth with the top earners, the rest of the top 10 is making around the same amount they were in 2010. Although the accumulative earnings for the top 10 are higher with a total of $112.5 million in 2010 compared to $135 million in 2020.
The Top Earners Make Vast Majority of Earnings Through Endorsements
Naomi Osaka made $34 million of her $37.4 million from endorsements (90% of earnings) and Serena Williams made $32 million of her $36 million from endorsements (89% of earnings). That’s more than Sharapova was making in total in 2010. The rest of the top 10 is about 50/50 between prize money and endorsements besides Alex Morgan who makes 91% of earnings through endorsements.
Tennis Continues to Dominate
In 2010 five of the top 10 earners were in tennis in 2020 that number is now nine. You can note this as a decrease in earnings for athletes on the LPGA or other women’s sports or an increase in earnings for women’s tennis players.
It’s worth noting that Serena Williams is the only athlete to appear on both lists, showing consistency throughout the decade.
Alex Morgan Representing Women’s Soccer in the Top 10
It’s big to see a women’s soccer player make this list. We all know that it’s growing thanks in part to the U.S. Women’s Soccer Team, but it takes a lot considering how low their salaries are compared to the other athletes on this list. It shows people are investing their time and money into women’s soccer.
It’s clear that more money is flowing into women’s sports specifically through endorsements and sponsorships. It may seem that the top earners are the only ones that are growing, but the net earnings are up and the sponsorship money has never been higher in women’s sports. Take a look at the recent deal between Bally Sports and the Phoenix Mercury. The $66 million deal spanning 15 years is described as the largest official team sponsorship in the history of women’s sports. The sports betting market in the U.S. is constantly developing, and this deal is a big step in creating more betting opportunities for women’s sports. Fluid fans are more engaged with sports content when they are able to practice the fan behavior of bet, and this deal will help bring more eyeballs and engagement to the growing WNBA market. This gives you an idea of the direction women’s sports is heading and businesses need to get on the bandwagon before it’s too late.