It’s time for rights holders to readdress the value opportunity in women’s sport
This is the final blog in a three-part series exploring the state of women’s sport during the Covid-19 pandemic. Part one, on the role of the media, can be read HERE, while part two on the role of brands can be found HERE
As well as a heavy load of disruption, uncertainty and upset, the coronavirus pandemic has also afforded a moment of pause and reflection. Rights holders are no exception – in the short-term, they have been gifted a reset opportunity to readdress their offering – for men’s and women’s sport – but particularly, to diversify and tailor their offer for brands in the women’s game.
There is a need for rights holders to amend the way they market women’s sports rights and to better articulate the value opportunity – the flexibility of asset packages, the tangible returns the partnership can deliver. Data points to the fact that at least half of the fans of women’s sport are men, so it’s not just a case of demographics.
Rights holders need to lean in to the value add and points of difference women’s sport can offer; less red tape to push the boundaries and shape their activations at early stages of negotiations, more willingness and collaboration from female athletes who want to see the sport grow, harnessing the potential to tell powerful and inspiring stories that brands can be a part of. Rights holders need to be braver and more confident when valuing these rights – if it carries a suitable price tag, it will be more valued, and only then will brands truly sit up and listen.
Any rights holders that are still marketing women’s sport as a ‘bolt-on’ to the men’s are wasting the value. It’s time to recognise these points of difference and repackage women’s sport as an appealing standalone proposition for specific brands, in turn, reducing rights wastage and bolstering commercial opportunities for the rights holder.
Commercial representatives for women’s sport can learn from the mistakes of the more established men’s sport and come to the market with a leaner and more innovative and approach to partnerships that will make the game even more attractive to brands. As well, they are rarely tied into long-term contracts – they have the nimbleness to adapt and change the model, in a way that long-term men’s sport contracts do not.
The National Women’s Soccer League in America is leading the way with their innovative approach – harnessing this opportunity to attract new fans. While all women’s team sports look to be off the agenda in the UK for at least six months, the NWSL was the first league to return in the US – male or female. And already, they are reaping rewards, with The Telegraph reporting major sponsors signing up, including a three-year deal with telecommunications company Verizon. The NWSL also accredited their speedy return to live action, ahead of the men’s operation, to their ‘nimbleness’.
Inspiration can also be drawn from the cricket’s new tournament format ‘The Hundred’ – the first time the ECB have brought men’s and women’s cricket together under the same unified tournament structure. There is a £600,000 total prize pool split evenly between the men’s and women’s competitions (albeit now postponed). Though the coronavirus pandemic hasn’t changed the ECB’s intention to award new full-time contracts to 40 female players this year, and they have committed to keeping up their £20 million investment in the women’s game. There is still much progress to be made to achieve gender parity in the sport, but an innovative move from the ECB to demonstrate to broadcasters and sponsors the value they place on women’s cricket.
In tennis, The ATP and WTA have spoken for several years about the possibility of merging the two tennis federations. This pause in sporting activity provides an opportunity for rights holders to strategically plan to bring the men’s and the women’s game under one unified umbrella. Rights can be offered up to sponsors as one unified package – increasing their value, as well as a fantastic opportunity to bolster the exposure and opportunity for the women’s game.
Rights holders have a tangible opportunity in the immediacy to make effective and innovative changes that will help bolster their commercial offering long-term. But they must act quickly, stalling decisions is a sure-fire way of shrinking back into the old ways of thinking. Rightsholders need to work with broadcasters and sponsors to repackage women’s sport – to realise its potential for all stakeholders. Reverting to the same model would be a lost opportunity for rights holders, as well as the industry at large.
Victoria Monk is Senior Communications Manager at ESA member CSM Sport & Entertainment | @Viki_Monk