Women's sports licensing one of the fastest-growing segments in the U.S.
A new McKinsey report identifies women’s sports as one of the fastest-growing segments in the U.S. sports industry, while highlighting a persistent gap between audience interest and commercial returns. Between 2022 and 2024, revenues in women’s sports grew more than four times faster than those in men’s sports, yet the sector still represents less than 2 percent of the overall U.S. sports market.
Additional $2.5 billion in value by 2030
McKinsey estimates that closing this monetization gap could unlock an additional $2.5 billion in value by 2030, increasing total revenues from roughly $1 billion in 2024 to more than $2.5 billion. Growth is being driven by rising sponsorship demand, increasing live attendance, merchandise sales, and particularly media rights, which remain undervalued despite record-breaking viewership for leagues such as the WNBA and NCAA women’s basketball.
Discovering women’s competitions in recent years
The report also highlights strong fan momentum, with many fans following both women’s and men’s sports and a growing number discovering women’s competitions in recent years through global events like the Olympics and the FIFA Women’s World Cup. However, several challenges continue to limit the sector’s full commercial potential.
Main Barriers to Full Monetization:
- Fragmented fan attention, as audiences often follow multiple sports rather than focusing on a single league
- Fewer highly avid fans compared to men’s sports, despite higher spending levels among deeply engaged supporters
- Limited access and visibility, with many competitions broadcast on smaller networks or less prominent streaming platforms
- Lower commercial maturity, as women’s sports lack the long-established revenue structures and deal history of men’s leagues
McKinsey concludes that women’s sports are at a critical inflection point. With targeted investment, improved accessibility, stronger media partnerships, and more strategic marketing, the sector has the potential not only to close the monetization gap but to exceed current growth projections in the years ahead.