Sports Business

From The Gist Team

Hi again!

The legal battles over TikTok’s ban in Montana have officially begun. Five creators in Big Sky Country sued the state last Wednesday, arguing that the law violates the First Amendment.

  • We’ll keep you posted as the TikTok saga unfolds, but in the meantime, we’re here to tip off the week on a high with a WNBA–themed update on the business of women’s sports. Shall we?

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WNBA

🏀 In their superteam era

Source: Ethan Miller/Getty Images

The GIST: The WNBA’s superteams are scoring super business wins. Before the WNBA season tipped off last Friday, both the Las Vegas Aces and NY Liberty reported increased 2023 ticket sales thanks to the buzz surrounding both teams’ new roster additions.

The details: Aces season ticket sales rose from 4K in 2022 to 5.5K this year, while Liberty season ticket memberships jumped 200% (!!!) YoY. The Brooklyn-based team also enjoyed “significant” increases across all ticket categories, including single-game and group purchases.

  • Players on both teams say they felt the hype ahead of the season, especially in the Big Apple. Hundreds recently turned up to a Liberty open practice, where Sabrina Ionescu (pronounced yo-NESS-coo) signed autographs and snapped selfies. Let’s hear it for New York.

The strategy: Commissioner Cathy Engelbert specified rivalry development as one of the league’s top marketing plays, and the superteam era is already delivering. ESPN also plans to embrace the cross-country storyline and will air seven Aces games and nine Liberty fixtures during the regular season.

Zooming out: Compelling narratives are the most authentic way to build the WNBA’s brand, and should translate into tangible returns like game day revenue for teams and viewership. The same was true for Iowa’s run to the March Madness championship game this year, when record-smashing audiences tuned into ESPN to watch Caitlin Clark.

  • The knock-on effect should also provide benefits for players if Clark and LSU champ Angel Reese are anything to go by. Iowa paused season ticket sales because of unprecedented demand, and Reese’s name, image, and likeness (NIL) valuation went from $371K to $1.4M post–March Madness. Sky’s the limit.
Olympics

🥇 Post mates

Source: Pier Marco Tacca/Getty Images

The GIST: Teamwork makes the Olympic dream work. NBC launched Fortius on Thursday, a program to help between 15 and 20 Olympic or Paralympic hopefuls build their brands ahead of next year’s Games — and potentially ensure NBC’s return on investment for the event.

The details: Staff across the company’s portfolio, including NBC Sports and Bravo, will assist athletes with social media strategy, including specifics like when and what to post. The NBC team will also help athletes understand social media metrics, ultimately allowing them to judge brand deals and promotional work for themselves.

  • Athletes expected to participate in the free service include volleyball player Jordan Thompson, surfer Carissa Moore, rock climber Brooke Raboutou, and breakdancer Sunny Choi.

The context: NBC hopes Fortius hooks audiences that will then enjoy a wide range of programming from Paris next year. The stakes are fairly high for the company — it paid $7.75B for Olympic broadcast rights until 2032, and next year’s edition follows record-low U.S. television audiences for the Tokyo and Beijing Games. Sacré bleu!

Zooming out: Fortius’ success could help NBC increase ratings after the network pledged to air more events than ever before, especially on streamer Peacock. Even if athletes in the program don’t receive primetime TV spotlights, the program might help NBC capture niche but highly-engaged audiences on its digital platform. Social butterflies.

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🤨 Did you know?

Source: The GIST

Did you know that women's pro basketball, tennis, and soccer have seen a 100%+ growth in viewership in the last five years?

Did you know that young women (aka our GISTers) are leaders in their workplaces and communities?

Did you know that 85% of The GIST’s audience identify as women, and 70% are business professionals?

If you want to reach the next generation of great business decision-makers, we can help.

Quick Hits

🏀 WNBA games with PlayStation

Hours before Friday’s season tip-off, the WNBA inked a multiyear partnership with PlayStation. The brand will support the league’s marketing efforts beginning with July’s All-Star Game and also signed endorsement deals with Arike Ogunbowale (pronounced ah-REE-kay oh-goon-bow-WAH-lay), NaLyssa Smith, and Zia Cooke. GG.

📺 ESPN welcomes BG home

ESPN pulled out all the stops for Brittney Griner’s WNBA return. The network had on-site talent for the Phoenix Mercury's Friday trip to LA and yesterday’s home game, alongside a crew at ESPN HQ in Bristol, Connecticut. ESPN also teased Friday’s game during the NHL playoffs and opened yesterday’s coverage with a video narrated by Sue Bird.

🥎 Hally’s NIL home run

On Friday, Hally Hair signed NIL deals with 12 softball players at three schools — LSU, Georgia, and Tennessee. The athletes will promote the brand’s new Shade Stix during the NCAA softball postseason, following in the footsteps of 25 beach volleyball players during this month’s championship.

📉 Highlight reels for Gen Z

According to a recent study, 34% of global sports fans aged 18 to 24 prefer to watch highlights over live games. Gen Z is the first generation to choose highlights over the real thing, but 30% in the age group would rather watch live events in their entirety, and 25% enjoy both.

Buzzer Beaters

🏀 The WNBA tipped off this season with 35 league sponsors, including new Changemaker partner CarMax.

🎓 The National Labor Relations Board filed a complaint against USC, the Pac-12, and the NCAA, asking them to classify the school’s athletes as employees.

✍️ Under Armour signed deals with WNBA trio Diamond Miller, Laeticia Amihere, and Marina Mabrey.

🎥 WNBA stars including Kelsey Plum and Arike Ogunbowale appeared in Google’s “WNBA Game Day Fits” spot, which debuted during Friday’s Sparks vs. Mercury matchup.

📲 The LA Sparks inked a partnership with privacy-focused social media company MeWe and will collaborate on a content series with the brand.

💰 The Seattle Storm is reportedly the WNBA’s only profitable team, but other teams aren’t exactly “over here crying poverty,” per an ownership group source.

🥍 Charlotte North will star in the first episode of Going Pro, the Athletes Unlimited lacrosse docuseries that debuts at 9 a.m. ET today on their YouTube channel.

Together with Boston Children's Hospital

There’s nothing worse than being sidelined by sports injuries. That’s when the nation’s top pediatric orthopedic department arrives to save the day: Boston Children’s Hospital develops programs to prevent injuries before they happen, new treatments to heal the ones that do, and recovery plans to help athletes bounce back faster.

The GIST's Picks

Here’s what passed The GIST squad’s vibe check this week:

☀️ How to glow up

With Hyper Skin. Target stubborn dark marks and hyperpigmentation with Hyper’s line of treatments and serums. Bonus? It’s a female-founded brand that’s changing the game.

💻 What to read

This NYT article on the rise of racket sports in the U.S. Weaving through tennis, pickleball, and newcomer padel, it breaks down each sport's popularity and competition.

📈 What to participate in

This survey. If you work in sports, help the Women in Sports Data team plan for their upcoming hackathon, which helps amplify women's voices in sports analytics across the technical spectrum.

📧 What to subscribe to

The Assist. Focused on making career and personal development actually enjoyable, they’ll send free, four-times weekly actionable tips straight to your inbox. Level up your game today.