NWSL in the Top 10 Most Innovative Companies at no. 5!

National Women's Soccer League (NWSL) is No. 5 on the list of the Fast Company World’s 50 Most Innovative Companies of 2024. Explore the full list of companies that are reshaping industries and culture.

The National Women's Soccer League (NWSL) is experiencing a remarkable surge in growth and investment, positioning itself as a trailblazer in the world of women's professional sports. Under the leadership of Commissioner Jessica Berman , who took the helm in 2022, the league has seen a significant increase in team valuations, attendance, and media rights deals.

In a groundbreaking move, the NWSL auctioned off expansion rights in Boston and the Bay Area for an impressive $53 million each in 2023. The new owners have pledged to invest a total of $100 million and $125 million, respectively, into their teams. This development, along with the record-breaking $63 million sale of the Portland Thorns in January and the recent valuation of San Diego Wave FC at $113 million, has reset the enterprise value of NWSL franchises by more than tenfold.

The league's success is fueled by its rapidly growing audience. In 2022, regular season attendance increased by 26% to 1.2 million people, while viewership of CBS broadcasts saw a 41% leap. Leveraging this growth, the NWSL negotiated a landmark media-rights deal worth $240 million, which will see 118 games broadcast across various platforms each season for the next four years. This deal, 40 times more valuable than the previous agreement, aims to increase the league's visibility and attract new fans through consistent appointment viewing and increased exposure.

Berman has also focused on building the league's reputation as the home of the world's best players. The NWSL has tripled staff in key areas, including hiring Julie Haddon as the league's first-ever chief marketing officer and Lauren Lopez to lead a people and culture team responsible for player onboarding and post-retirement support. These investments are crucial in recruiting top global talent and expanding the league's global audience.

The NWSL's core demographic is the youngest of any professional sport, and teams are capitalizing on this unique fandom through innovative community outreach and programming. For example, when Alyssa Thompson, the first NWSL player recruited out of high school, missed her prom due to a match for Angel City FC, the team organized a prom night theme for fans and players, creating an atmosphere that sets the league apart from men's sports.

Unlike European soccer leagues, where women's teams are subsidiaries of men's, the NWSL operates independently. While this structure may limit access to the vast resources available to men's teams, Berman is confident in the league's ability to prove its investment thesis: direct investment in the NWSL can drive growth and returns.

The 2024 NWSL season kicked off on March 16th at the Kansas City Current's new $117 million CPKC Stadium, the world's first women's professional sports stadium. This milestone demonstrates the league's commitment to investing in infrastructure and creating a sustainable future for women's soccer in the United States.

As the NWSL continues to grow and attract investment, it serves as an inspiration for other women's professional sports leagues around the world. With visionary leadership, innovative marketing strategies, and a dedicated fan base, the NWSL is poised to become a global powerhouse in the world of sports, paving the way for greater gender equality and increased opportunities for female athletes.

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