GroupM, a media buying arm of WPP, has announced its plans to double its annual investment in women’s sports. This initiative is a significant step in promoting gender equality and empowering female athletes. The company is set to create a dedicated marketplace to facilitate deals and provide opportunities for advertisers to engage with this growing sector of the sports industry.
According to estimates from consulting firm Deloitte, women’s sports are projected to generate over $1 billion in revenue in 2024. This is a clear indicator of the increasing interest and support for women’s sports across different platforms. Basketball, in particular, has seen a surge in popularity with rising ratings for NCAA tournament games and the WNBA.
GroupM’s Chief Investment Officer, Matt Sweeney, emphasized the importance of investing in women’s sports and providing advertisers with unique opportunities to connect with audiences. The company is committed to securing broadcast sponsorships, bespoke packages, and grassroots investments with leagues and athlete-owned entertainment companies.
Data and measurement firm EDO has conducted studies on the impact of advertising in women’s sports on brand image and commercial objectives. The findings revealed that ads featuring female athletes were significantly more effective than average ads on broadcast and cable. This highlights the potential for brands to reach a diverse and engaged audience through women’s sports programming.
Despite the progress made in recent years, there is still a significant disparity between men’s and women’s sports advertising. GroupM’s initiative aims to address this gap and provide advertisers with innovative and impactful ways to promote their brands. The growing audience for women’s sports presents a valuable opportunity for brands to connect with consumers in a meaningful way.
GroupM’s decision to double its investment in women’s sports is a positive step towards promoting gender equality and supporting female athletes. By creating a dedicated marketplace and offering unique opportunities for advertisers, the company is leading the way in championing women’s sports. This initiative has the potential to drive growth, increase brand impact, and optimize business outcomes for advertisers who choose to invest in women’s sports.