GroupM, the media buying arm of advertising giant WPP, plans to double its annual investment in women's sport and create a dedicated marketplace to facilitate deals.
The company said the initiative will launch in 2024-25, with an initial roster of advertisers including Adidas, Google, Ally and Unilever, with more brands joining in the future. Consulting firm Deloitte estimates that women's sports will generate more than $1 billion in revenue by 2024. We're seeing growth in several sports, especially basketball, with ratings up for NCAA tournament games and the WNBA.
Matt Sweeney, GroupM's chief investment officer, said: “Our industry has seen incredible results from investments in women's sports over the past few years, but even with continued momentum, investment is only a fraction of total media spending on sports.” we. “Starting with pre-negotiations this year, our team will capture higher win-win opportunities for advertisers. GroupM advertisers will flip the script on how they invest in women’s sports. It is challenging the market and will continue to play an important role in the future.”
The opportunities GroupM is looking at range from broadcast sponsorships and bespoke packages to grassroots investments with leagues and athlete-owned entertainment companies.
“With the growing demand for women's sports and our responsibility to strengthen the women's sports market, our team has created a wealth of bespoke opportunities to increase brand impact, enhance advertising effectiveness and optimize business outcomes. We're committed to delivering the best to advertisers,” Dennis Ocasio said. Executive Director of Investments, GroupM “We have seen rapid viewership growth and strong viewership, with our women's sports programming subsequently ranking as some of the most-watched broadcasts overall. Advertising alongside women’s sports is effective.”
Data measurement company EDO studied the impact of advertising in women's sports on brand image and commercial objectives. Among the findings, there was one statistic that caught my eye. Adidas ads featuring female athletes were 69% more effective than the brand's average ad on broadcast and cable in 2023.
“As well as prioritizing investment in women's sport as a whole, we need to challenge the way we buy and sell advertising and sponsorship packages,” said Martin Brich, executive director of sports and live investments at GroupM. “For years there has been a disparity between men’s and women’s sports advertising, but now there are more opportunities across women’s sports. We hope that this will help them implement effective investment strategies and increase overall sports advertising.”
