Endorsements for women's teams, leagues and athletes continue to rise
The GIST: More brands are riding the women’s sports tidal wave than ever before. Deal tracking platform SponsorUnited published a report yesterday that indicates endorsements for women’s teams and leagues increased 21% YoY in the U.S., Europe and Australia, while athlete sponsorship jumped 18%.
The details: Finance companies struck 30% of the deals between September 2021 and 2022, more than any other industry. NWSL partner Mastercard was the most active brand, followed by fellow league sponsor Ally.
- Though apparel and accessories companies ranked second overall, Nike led companies in all categories for women’s sports endorsements. Literally just doing it.
The big winners: As for athletes, soccer star Alex Morgan landed the most endorsements (27), with tennis icon Serena Williams right behind her (26). Morgan had more agreements than any major U.S. men’s league athlete, and counts Chipotle, Coca-Cola and Google as her biggest partners. Sheesh.
- On the league side, the number of LPGA sponsors grew 30% after the Tour added nearly 1K partners in the last year, 18% of which were new relationships. The WTA ranked second in the category after seeing 22% sponsorship growth YoY.
The untapped categories: Naturally, plenty of opportunities still remain. Per the report, 89% of available sportsbook property inventory is still up for grabs in women’s sports, along with 75% of beer endorsements and 99% of NFT agreements.
- By comparison, only 52% of sportsbook opportunities are open in men’s sports, while the same is true for 36% of beer sponsorships and 74% for NFTs.
Zooming out: The report highlights both the market’s gradual embrace of women’s sports and who holds the most stock in terms of marketability. It also serves as a reminder that women athletes and their agents must be extremely strategic to reach such heights — Morgan rose to the top due to her self-made branding strategy.
