Sport is unrivaled when it comes to the ability to spark passion and a sense of community. Sponsors take advantage of this and spend billions trying to gain popularity through sports. Sadly the women’s sports sponsorship accounts for only 0.4% of total sports sponsorship.
Just how big is the gap between sports sponsorships for men and women?
Let's look at the Indian women's cricket team- The official partners for the team include big brands like Hyundai, Paytm, Nike, and Byjus. So on the surface, there seem to be a lot of sponsors. However, very few individual members have sponsorships, and even those that do, have a long way from their male counterparts. In the male team, disgraceful members like Hardik Pandya have enough brand deals with their names. Most lesser known sports teams don't even have sponsorships.
Even when the female player is well known and the gap between viewership in that sport isn't that high, the gap between sponsorships still exists- this looks like Novak Djokovic getting $25 Million while Serena Williams getting $18 Million in sponsorships.
Why are these sponsorships important?
Sports sponsorship is an internationally recognized and utilized marketing tool that is rapidly increasing in popularity. Much like normal sponsorships, a brand or organization sponsors a sports team or athlete to assist with their sporting endeavors.
Sponsorships are especially important for women because often, individual sponsorships help these women stay in the industry without having to get a second or backup job, much like some of the Indian women's cricket team had to until 2017. Secondly, these sponsorships bring awareness about the existence of these sportswomen and their sport and increase viewership.
Why should brands invest in women's sports?
a. Women’s sports teams deliver an ideal demographic target market at a small price, compared to a male team, who are likely to charge a lot more.
b. Due to the fact that there has been so little marketing and sponsorships offered to women athletes and sports teams, the scope for promotion through sponsorships is huge.
So shouldn’t this market be presenting itself as a major opportunity for investment and sponsorship opportunity, rather than being disregarded?
Why isn't enough sports sponsorship there for women now?
The background of the decision maker, the corporate culture, the media, and pre-existing values and beliefs can have a significant effect on a sponsor’s decisions. People tend to believe that women's sports can never be as popular or successful because of sexist ideologies passed on for decades, preserving the male dominance in sports, despite the overwhelming evidence that proves otherwise: like the booming popularity of women's sports and their success, breaking records set by men.
Until those barriers and prejudices are overcome, women’s sport and sponsorship opportunities will remain the same.