The WNBA is set to make huge strides with its upcoming national media rights package, securing approximately $2.2 billion over the next 11 years, averaging about $200 million annually. The substantial increase in revenue represents a significant boost from its current deals, which are valued at around $50 million per year. The new agreements provide an opening for the league to potentially earn more as it continues to grow.
The NBA played a pivotal role in negotiating these new media rights deals for the WNBA during its recent rights talks. The NBA secured an 11-year contract valued at around $75 billion with major players like Disney, NBC and Amazon. Following suit, the WNBA also established its national media rights agreements with ESPN, NBC, and Amazon. Each of these companies will have their own dedicated WNBA packages, according to reporting from The Athletic’s Mike Vorkunov, expanding the league’s visibility and accessibility to a broader audience.
These new deals were approved by the NBA’s board of governors on Tuesday, although they have not been finalized yet. Warner Bros. Discovery, the parent company of TNT, holds matching rights for an NBA rights package and has not yet decided whether to exercise them. This pending decision could influence the finalization of the WNBA’s agreements.
WNBA media rights deal set to surpass NWSL’s media rights deal
The WNBA’s current media deals, which are set to expire after the 2025 season, include partnerships with Disney, Ion, CBS and Amazon. The new agreements could potentially increase the league’s media rights fees by six times, marking a significant financial upswing. Additionally, the WNBA plans to sell two more rights packages, projecting to bring in another $60 million annually from these deals. The move is expected to help the WNBA capitalize on the growing interest in women’s sports and increased media spending.
The recent success of the NWSL, which secured a new media rights deal worth $240 million over four years, highlights the burgeoning market for women’s sports. The WNBA’s new contracts are poised to surpass these figures annually, exceeding even the optimistic projections of Commissioner Cathy Engelbert. Earlier this year, Engelbert expressed her goal to at least double the league’s rights fees, a target that the WNBA is now set to surpass.
In an effort to ensure that the league’s growth is adequately reflected in its media deals, the WNBA has built-in protections within the new agreements. These include a clause for revisiting the deals with the media partners in good faith talks after three years. This provision allows for a potential repricing of the deals to better align with the league’s growth and market value.
Overall, the WNBA’s new media rights package is a monumental step forward for the league. With substantial financial backing and expanded media coverage, the WNBA is well-positioned to continue its upward trajectory. This not only highlights the growing spotlight on women’s sports but also sets a precedent for future media rights negotiations in the sector.
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