PricewaterhouseCoopers (PwC) has published its annual Global Sports Survey, which highlights the growing optimism among sports experts regarding women’s sport.
The report found that 85% of sports officials are forecasting double-digit revenue growth in women’s sport over the next three to five years, underlining that the sector is undergoing a transformation as stakeholders increasingly recognise the potential of women’s sport as a dynamic growth engine within the wider sports industry.
The survey identified several strategies that are considered crucial to attracting new viewers to women’s sport. The most important of these are:
- Increased promotion (18%), including advertising and competitive ticket prices
- Improving live broadcasting of events (16%),
- Improving the matchday experience through better food options and improved accessibility (13%)
Other strategies include encouraging athlete storytelling (12%) and ensuring family-friendly planning (12%), highlighting the multi-faceted approach needed to encourage engagement and support.
Investment and innovation
The 411 experts surveyed from 46 countries cited teams and leagues (41%), gaming (22%) and technology (17%) as the most important areas of investment. The popularity of minority and joint venture investments is also increasing significantly, with both supported by 36% of sports leaders.
Despite the optimism, 44% of respondents cited financial concerns as a significant barrier to hosting large events. While investments in infrastructure (25%) and benefits for tourism (24%) are acknowledged, challenges remain in attracting public support (19%) and finding suitable facilities (15%).
To overcome these challenges, 64% of experts advocate new event models, and 60% stressed that future major events should use existing venues to ensure sustainability. The concept of a multi-location model is favored by 86% as the optimal approach for hosting major events.
Technology and future prospects
The survey also shed light on the integration of technology, with 59% of sports leaders saying there is no clear strategy for generative AI (GenAI) despite the potential for growth. Obstacles such as funding and capacity needs were highlighted, creating an opportunity for early adopters to gain a competitive advantage.
The PwC report highlights that the sports sector remains highly attractive due to continued revenue growth driven by media rights and sponsorship deals. It also points to the emergence of more sustainable business models: 83% of executives recognise the need for new business models to attract investment.
Expert commentary
Clive Reeves, PwC’s global sports expert, noted: “The report provides valuable insights into the state of the sports industry and its future prospects from some of the world’s leading executives and sports strategists. Despite economic uncertainty, the industry remains optimistic and poised for growth. This summer in particular underlines the appeal that sport continues to have – from the men’s UEFA Euro 2024 to the Olympic and Paralympic Games in Paris.”
outlook
Sports leaders remain cautiously optimistic, expecting market growth of 7.3% over the next three to five years. Women’s sports in particular have made great strides in the past year, and the promising growth potential has yet to be exhausted.
As interest in women’s sport continues to grow, a focus on media coverage, fan engagement and investment activity remains critical. The opportunity to create unique experiences tailored to new audiences presents an exciting challenge. The challenge is to balance improving the sports product with overall development, ensuring a sustainable presence while deepening the understanding of fan demographics to increase engagement.
This outlook not only reflects the ongoing evolution of women’s sport, but also underscores the broader trends shaping the future of the sports industry.
