Serena Williams might be enjoying retirement, but women’s sports are the play in advertising. In 2024, WPP, the world’s biggest ad agency, committed to doubling the amount it spent on the category, while Deloitte predicted global revenues of women’s sports will reach $1.28 billion by year’s end.
Last spring’s NCAA women’s basketball championship game had 19 million viewers, more than ever before, according to Nielsen. TV viewership of WNBA has tripled since last year. Companies across the sports sector are seeing the potential for profitability.
Some are calling this “the Caitlin Clark effect,” after the NCAA Division I all-time leading scorer raked in endorsements from Nike, State Farm, and Gatorade. In tennis, Emma Raducanu — who went from unknown to instant stardom at the 2021 U.S. Open — has deals with Nike, Dior, Tiffany & Co, and Porsche. (The trend seems to be: A new star emerges and draws audiences never imagined before.)
The Paris Olympics, too, sent ad spend soaring, with several women giving dizzying performances to record viewership:
- For Team USA, Katie Ledecky became the most-decorated female Olympian — and the face of Athleta over the next five years.
- Simone Biles broke 13 world records, taking home four golds and a silver. During commercial breaks, she could be seen in a Visa ad.
- Sha’Carri Richardson came away with silver in the 100m — and a spot from Nike.
This all coincides with the boom of another player in the sports world: gambling.
Since the 2018 Supreme Court decision that allowed states to legalize sports gambling, the industry has enjoyed rapid growth. Last year, it brought in $11 billion, a 44.5% YoY increase. And it’s getting plenty of assists from the Caitlin Clark effect: Bets on the WNBA’s opening night were up fivefold in 2024 over the previous season — when Clark was still playing in college.
“You saw people … giving out their women’s college basketball bracket, which is something that was totally new,” says Sean Green, CEO of the Sports Gambling Podcast Network. “Her game was so exciting; draining super deep threes made it a fun share on social media.”
Like traditional advertisers, sports gambling companies are putting significant ad dollars behind the WNBA.
“If you open up your sports betting or fantasy app these days, it’s not uncommon to see a Caitlin Clark or Angel Reese betting promo … I never saw a WNBA player featured in a promo until this year,” Green says. “Sports gambling companies live off of first-time depositors, aka new customers, and Caitlin Clark gets people who may not normally bet interested.”
Research even suggests women sports gamblers outperform men. That may be up for debate, but women’s sports will continue to explode in popularity. You can bet on it.