The current age of women’s sports holds excitement like no other. Records and barriers continue to be broken as the seasons turn. For example, the 2023 NCAA Division 1 Women’s Basketball Tournament saw a peak in popularity and high-level performances. The championship game featuring Iowa’s Caitlin Clark and LSU’s Angel Reese reached a staggering 9.9 million viewers. The bar for performance and entrainment in countless other sports has also been raised. Thus, it is no surprise that investment in women’s sports is increasing, per a report from Sports Innovation Lab (h/t The Hockey News).

Women’s sports investment is on the rise but can go even higher

Sports Innovation Lab is a company run by women’s hockey legend Angela Ruggiero. The company conducted a report finding that 83% of brands plan to increase their investment in women’s sports in 2024. Despite the increase in the number of companies investing, it was found only nine percent of companies’ budgets were spent on the sector.

The briefing offers some reasons why full investment potential is not being reached. One notable reason was poor time slots and lack of media coverage. This problem is being addressed by a major media company. ESPN recently made a deal with the NCAA to broadcast the first NCAA-sponsored women’s basketball NIT-style tournament next year.

This deal will give women’s basketball and, consequentially, other college sports more visibility on ESPN’s various platforms. This is one step to capitalize on the increasing excitement.

Whether Simone Biles continues her legendary gymnastics career, or Catilin Clark and Angel Reese face off in heated battles, women’s sports continue to grow and companies can yield great financial returns on investments in them.