Women’s sport | More than a movement, a new economy

“You have to see it as a start-up. It’s going to take people who believe in us, who see the value of that…”

Spoken by hockey player Karell Émard, during an interview with The Press in 2019, these words sounded an awful lot like a prophecy. The one who is now a players’ agent spoke at the time about the project of a strong and sustainable professional circuit, when the Canadian League had just declared bankruptcy. Five years later, not only is the Professional Women’s Hockey League (LPHF) beginning the second campaign of its existence, but a real economy of professional women’s sport has also been established.

A projection by Deloitte published last year estimated that globally, the industry would generate some $1.3 billion in revenues in 2024. This was an increase of 300% compared to predictions by the same company three years earlier.

What has mainly changed? The injection of considerable sums, whether through private investment or sponsorships. Women’s sport, suddenly, is no longer looked down upon or seen as a by-product of men’s sport, but as a viable and profitable financial vehicle. Income is no longer theoretical, but real. In 2023, an Australian study estimated that each dollar invested would generate a value of $7.29.

“The product was so beautiful, we knew that someone, somewhere, could take us where we wanted,” emphasized Karell Émard, Thursday, in reaction to the 2019 discussion mentioned above on the potential of a league women’s hockey. History, obviously, proved him right. Last year, billionaire Mark Walter, owner of the Los Angeles Dodgers, invested the capital necessary to create the LPHF. And success followed.

“It’s as if, suddenly, people realized that it was legitimate,” continued Karell Émard. Someone believed in it as we believed in it. »

Supporting figures

The Press met the ex-Canadiennes player last Thursday at the launch of Pivot collective, an NPO whose objective is to “maximize the opportunities offered by women’s sport”, particularly on an economic level. As part of this event, a series of discussions took place on different themes linked to the growth of this industry.

Among the panelists on hand was Ashley Curran, Associate Vice President, Sports Partnerships, Canadian Tire. The company announced plans to allocate 50% of its sponsorships to women’s professional sports by 2026.

Involved in sport for decades, the channel wanted to follow the shift in tectonic plates that is underway, M explained to us.^me Curran.

Thus, in 2023, the company subsidized a study by Women and Sport in Canada, carried out in partnership with the company Boston Consulting Group. This approach made it possible, perhaps for the first time, to accurately describe the Canadian women’s professional sports market and, above all, its growth potential.

It paints a portrait of loyal, committed supporters with an enviable demographic profile – wealthier and more educated than the national average, for example.

And above all, we expose an unprecedented economic reality: “An expanding market which presents a relatively low initial investment cost, but whose long-term earning potential is considerably high. »

In the United States, the WNBA (basketball) and the NWSL (soccer) were proof of success. Figures in hand, and while the rumor intensified around the creation of the LPHF and the future Super League of the North, in soccer, Ashley Curran was confident in his ability to convince the senior management of Canadian Tire to change its strategy investments in professional sport for the benefit of women.

“I took this to the top, and our CEO [Greg Hicks] agreed with the story and its potential, explains M^me Curran. Our corporate mission is to make life better in Canada. Why shouldn’t women have a place to play? »

The manager is convinced that other brands will follow suit. Quite simply because “to engage the public, there is no better market to invest in than women’s sport at the moment”.

The “good news”

The real explosion experienced by women’s professional sport does not, however, mark an outcome, but rather another step towards equity.

Few people saw business opportunities in this industry five or ten years ago. And there are still plenty of skeptics left to confound. It is in this spirit that Katia Aubin, communications and marketing expert, created Pivot collective.

This sports enthusiast, who until recently was vice-president at Sid Lee, had long cherished the project of “connecting” the business community with the “ecosystem” of women’s sport. Companies, she believes, can go much further to make their investments profitable, with a different approach from the one they have known for generations. And sports organizations, whether leagues, teams or federations, are still learning to navigate a still-nascent economic framework.

In other words, she wants to “spread the good news” today; especially not in a more or less defined future.

“I hear again: we’re going to wait to see if it works. But what to wait? wonders M^me Aubin. I want to demonstrate all business opportunities […]. It’s not just Victory and Roses. There are plenty of properties, plenty of places where we can help [le sport] to rise. »

“What is important is not to treat this product like any other,” she insists. It’s not just sport, we can do a lot more than just show a logo. Brands can have much more impact. »

For years, the women’s sports community has been saying that the fruit is ripe, that all that remains is to pick it. It is clear that this has never been more true than now.