A version of this article first appeared in the CNBC Sport newsletter with Alex Sherman, which brings you the biggest news and exclusive interviews from the worlds of sports business and media. Sign up to receive future editions, straight to your inbox. Last week, when I spoke to media executive-turned-investor Jeff Zucker , he said the biggest story in sports business right now is the growth of women’s sports. (Spoiler alert: This week’s guest for The Four Questions, Endeavor Executive Chairman Patrick Whitesell , says the same). “In women’s sports, we have seen record-setting levels of interest in the WNBA, NWSL, and women’s college basketball, and I expect women’s sports to continue to grow as top female athletes continue to break through culture,” Zucker told me. Followers of women’s athletics already know some of the highlights: The NCAA women’s basketball finals had higher ratings than the men’s final this year. Late last year, the National Women’s Soccer League agreed to new domestic rights deals worth $240 million with Amazon , CBS , ESPN and Scripps – a 40-fold increase over the league’s previous deal. The WNBA struck a new media rights deal of its own in July for $2.2 billion over 11 years, with a reevaluation after 2028 that could lead to even higher fees. That’s a significant increase over the $60 million per year the league made in its previous rights deal, but it’s still a far cry from the $7 billion per year the NBA will bring in, illustrating how much room there’s still to run. The WNBA has been the flag bearer for women’s sports as a growth play and an investment opportunity in all facets: team ownership, merchandising, sponsorship and expansion. The regular season ended Sept. 19, and the ratings statistics are staggering. It was the most-watched WNBA regular season ever across ESPN platforms, up 170% from last year with an average of 1.2 million viewers per game. The WNBA had its highest total attendance in 22 years, up 48% from last season. WNBA merchandise sales from the league’s online store and in-person New York City location were up a combined 601% from 2023, according to a league spokesperson. If you didn’t think there was general exuberance around the WNBA, the legendary CBS newsmagazine show “60 Minutes” just dropped a 13-minute segment on the league’s rise this past Sunday. But whenever it feels like everyone is piling in one side of a trade, I believe it’s CNBC’s job to look at the other side. Every investment opportunity…
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