GroupM, the media buying arm of advertising giant WPP, has announced its plans to double its annual investment in women’s sports. This initiative is a step towards creating a dedicated marketplace to facilitate deals and promote women’s sports on a larger scale.
The initiative, set to begin in the 2024-25 upfront, has already gained support from major advertisers including Adidas, Ally, Coinbase, Discover, Google, Mars, Nationwide, Unilever, and Universal Pictures. With such key players on board, the initiative is expected to gain momentum and attract more brands in the future.
According to a estimate by consulting firm Deloitte, women’s sports as a category are projected to generate more than $1 billion in revenue in 2024. This projection showcases the potential for growth and success in the women’s sports industry.
Matt Sweeney, Chief Investment Officer of GroupM US, emphasized the impact of investing in women’s sports and the need for increased support in the industry. Advertisers are promised elevated opportunities that will drive brand impact, increase ad effectiveness, and optimize business outcomes.
Data and measurement firm EDO has conducted studies on the impact of advertising in women’s sports on a brand’s image and commercial objectives. One of the findings revealed that Adidas ads featuring female athletes were 69% more effective than the brand’s average ad on broadcast and cable in 2023. This statistic highlights the effectiveness of women’s sports advertising and the potential for brands to leverage this opportunity.
Opportunities in Women’s Sports Advertising
GroupM is eyeing opportunities ranging from broadcast sponsorships and bespoke packages to grassroots investments with leagues and athlete-owned entertainment companies. Denise Ocasio, Executive Director of Investment at GroupM, expressed the commitment to enhancing the women’s sports marketplace and providing advertisers with unique opportunities to engage with audiences.
GroupM’s initiative to double its investment in women’s sports is a significant step towards promoting gender equality in sports and providing advertisers with valuable opportunities to connect with diverse audiences. This strategic move is expected to have a positive impact on the industry and pave the way for further growth and development in women’s sports.