Your guide to the WNBA

Many will know my love of basketball, especially from a grassroots and women’s game perspective. It’s perhaps the biggest sports growth opportunity across non-US countries and with such a diverse fanbase, a chance to really engage and unite nations.?

Following the rapid growth across women’s football, women’s basketball is enjoying a similar rise - from the London Lions taking out the EuroCup to the WNBA breaking records week-by-week.?

With the WNBA season having just tipped off and huge names such as Caitlin Clark and Angel Reese joining the league, this week’s newsletter is a deep dive into the magical league driving change. It’s a long one, but save it down and it might just become your go-to guide!?

?

?? B R A N D? [and business] M O V E s ??

The business of the WNBA?

The first WNBA season tipped off in 1997. In today’s format, it’s made up of 12 teams, some linked to NBA teams and others completely separate, with a goal to increase this to 16 by 2028. Two teams have already been confirmed to join by 2026, including the highly-anticipated Golden State Valkyries.?

The league saw immediate success at launch, followed by a steady decline until the global Covid-19 pandemic saw more fans engaging with players and the interest in women’s sport grow.?

Around the same time, there was a huge investment worth ￡75m that would last five years and aim to develop the game into this entertainment and lifestyle property. Three years in and the WNBA has seen $200million in revenue and smashed almost every record on the books.

The WNBA season hosts 40 games (up from 36) and there is a far shorter off-season compared to the men’s. This is mostly down to access to arenas, pay and opportunity. During off-season, many players will play in oversea leagues / tournaments to continue earning given the low salaries in the WNBA. This is beginning to change due to new legislation introduced in 2024 that means players are fined should they go overseas - paired with increase in salaries and opportunities for extra earnings such as the ‘play-off pot’.?

The 2019 rebrand?

Until 2019, the WNBA was heavily linked to the NBA in terms of brand, even though they remained separate entities. Enter the hugely celebrated re-brand that moved the brand into new territories, fully owning the ‘W’ in WNBA and developing a structure that would catapult the brand into a full entertainment and lifestyle property. The success of this has been seen ever since.??

What’s changed?

Why the sudden growth in WNBA? What has been driving it? A few things:?

1. Star power: in America, women’s college basketball is flying with the recent NCAA finals beating out the men’s in terms of viewership. This is largely due to college stars like Caitlin Clark, Angel Reese and Cameron Brink who have built their own following and fandoms thanks to the introduction of NIL (name, image, likeness sponsorship deals) and have this year, been drafted into the WNBA bringing their star power with them. Wider than this, WNBA stars have been recognised as the most vocal when it comes to social justice and causes, the most relatable to fans and the most accessible - so it’s no wonder we are seeing this growth
2. Expansion in teams: as mentioned, the WNBA is expanding from 12 teams to 16 - with Golden State Valkyries and Toronto confirmed so far. Opening the league up to Canada is brilliant of course, but it’s the Valkyries sparking the biggest excitement - not only are they linked to the legendary Warriors but San Fran’s heavy tech input, incredible diversity as a community and with basketball at the core, it’s an important target for audience growth. It also helps that Silicon Valley pockets run deep and in basketball.?
3. Improved business structure: the business structures of the WNBA have been iffy - with over-investment in some teams, and lack of investment in others. We’re now seeing legislation on equal opportunities coming in with the likes of WNBA funded chartered flights as well as negotiations on the Collective Bargaining Agreement and broadcast rights. These changes, amongst others, could see a dramatic change in the profitability and opportunities within the game, alongside the commercial partnership structure which we we go into more in the next section of this newsletter.?
4. Celebrity interest: with the likes of Tom Brady, Sue Bird, Steph Curry, Alex Rodriguez, Dwayne Wade, Magic Johnson and Michelle Williams all investing in teams and support, the added stardom is only increasing awareness and visibility.?
5. Investment in facilities: for most teams, attendance at games is restricted to a few thousand but with added pressure for teams to build or adopt bigger arenas, access to the live games will be better than ever.?
6. Exhibition games and broadcast: for the 2024 season, tip-off games were shown on Disney+, opening the games up to a huge and different audience. Broadcast is also improving with more games available on Amazon, ESPN and other streamers, not just the WNBA App.
7. Women’s sport is growing in general: it’s not just basketball and the WNBA seeing monumental growth, but women’s sport in general is enjoying a radical increase in visibility, attendance and fandoms.
8. A shift of focus to entertainment and marketing: where previously the WNBA relied heavily on the game itself, in recent years the shift has been made to invest more in the marketing - storytelling and content specifically - to truly make this global property.?
9. Inclusion of the WNBA in wider NBA and sporting opportunities: from NBA 2k to opening up betting across states and developing WNBA Fantasy, the game has opened up to different platforms and interactive opportunities.?

???♀? P A R T N E R? P L A Y? ???♀?

What it is

The WNBA commercial structure is unique, brilliant and working. All commercial partners - dubbed WNBA Changemakers - who are brought on must focus on enhancing and transforming the brand and business - it is not just selling logo space or being a tickbox in a brands EDI strategy. Partners must adhere to this, investing time and resources into fan and player experiences as well as facilities and training.?

?

Key partners and what they’ve delivered against the agreement

• Deloitte: completely overhauled the WNBA app and websites
• Google: working to improve visibility through improving their search engine algorithms (think Correct the Internet)?
• Nike: contributed to the $75m capital, invested in developing kits that linked teams to their chosen social justice causes and owns the grassroots areas of the WNBA?
• US Bank: works with players to manage their money, making smart decisions on investments and savings?
• CarMax: dedicated to increase brand awareness of the league, teams and players themselves with the ultimate ambition to make every player a household name
• AT&T: working to improve connection and technology through broadcast and visibility of the players, teams and league - most recently signed on to sponsor Amazon's coverage
• Voice in Sport: committed to unlocking the power of mentoring for the next generation of athletes by creating accessible opportunities for young girls and future leaders to learn from professional athletes

You can read more about the WNBA Changemakers and the impact in the 2023 impact report.

?? P O W E R? S O U R C E ??

The key facts and figures you need to know?

The business

• The WNBA was founded in 1996 with the first season tipping off in 1997
• The league is made up of 12 teams: Atlanta Dream, Chicago Sky, Connecticut Sun, Indiana Fever, New York Liberty, Washington Mystics, Dallas Wings, Las Vegas Aces, Los Angeles Sparks, Minnesota Lynx, Phoenix Mercury, Seattle Storm
• There are four new teams coming, with two announced: Golden State Valkyries, Toronto (name TBC)?
• Each year, teams play 40 games a season
• The league is currently valued at $1billion?

Growth in numbers?

• 21% increase in viewership?
• 100% increase in social media consumption
• 36% increase in social media video views
• 50% increase in merchandise sales
• 10% increase in subscription sales
• 20% increase in teams follower growth (average)?
• 46% increase in engagement for teams?
• 93% increase in ticket sales?
• 750% increase in jersey sales?
• 2.45m tuning in to watch 2024’s draft (thanks Caitlin Clark)?
• 3x teams have sold out season tickets already?
• 1x marketing person leading WNBA marketing - now 26?

A little different this time around but hope this has been helpful and as enjoyable to read as it was to research and write!

Sources: WNBA, Fast Company, ESPN, Forbes, Time, The Athletic, Sylvain