Zero. That’s the number of women in the 2024 list of the world’s 100 highest-paid athletes. Meanwhile, male athletes collectively earned $9.9 billion.
Opinion
Male athletes earned $2.2 billion via endorsements in 2024, underscoring the stark reality of the gender gap in investment in sport.
Meanwhile, the highest-earning female athlete – Coco Gauff – earned a commendable $48 million, but even an impressive sum of this calibre wasn’t enough to crack the top 100 as the cut-off stood at $60 million.
The absence of women in this list isn’t just an isolated issue within the sporting world. It’s a glaring business oversight, signalling that the commercial power of female athletes and the untapped market they represent is still being overlooked despite the rapidly growing fanbase for women’s sports.
“How much longer will the industry ignore its biggest growth opportunity?”
Clare Starling
The neglect not only fails female athletes but also misses out on a major business opportunity for sports organisations, brands, and media companies. Research from the Victorian Government Office for Women in Sport and Recreation reveals that Australia’s women’s sporting industry is projected to be worth $49 billion in customer value over the next 15 years, yet the current commercial approach falls woefully short.
Women’s sports receive a mere 10 – 12 per cent of total media coverage in Australia, compared to 80 per cent for men’s sports1. The lack of exposure is a self-perpetuating cycle; less screen time translates to fewer sponsorship opportunities, driving down potential earnings for female athletes.
The excuse that women’s sports don’t generate enough revenue is a convenient but misguided one. The real problem is that they are rarely given the equal airtime required to generate revenue in the first place.
To break this cycle, women’s sports need the same level of exposure as men’s. This means prime-time slots, high-quality coverage, and the kind of storytelling that highlights their achievements, not just the often superficial angles that are crafted.
When women’s sports are featured in prime-time slots and covered with a professional lens, it increases their marketability and builds a more loyal fan base. Brands that are increasingly looking for opportunities to invest in high-growth markets will see the value in women’s sports if they are given the same level of coverage as men’s league. The 2023 FIFA Women’s World Cup is clear evidence of this; record-breaking viewership, sold-out stadiums, and an economic impact of over $1 billion (according to the Australia Host City Impact Study by Nielsen).
Related
Sponsorship in women’s sports also needs a paradigm shift. Too often, it is framed as corporate social responsibility, rather than a business opportunity. In reality, investing in women’s sports is not just the right thing to do; it’s a smart business decision.
The global sports sponsorship market is valued at over $113 billion, yet only 10 – 15 per cent of that is directed toward women’s sports. Directing such a small percentage towards women’s sports is not only a poor business decision for brands, but a missed opportunity.
Why? In the last three years, women’s sports fan communities have shown a 40 per cent higher growth rate than general sports audiences (according to the Sports Innovation Lab, 2022). This exhibits a seven per cent higher transaction rate for brands that proactively support women’s sports. Those who continue to ignore the opportunity will risk falling behind in a rapidly changing marketplace.
To capitalise on this growth, sponsorship models must evolve. Brands need to shift away from bundled sponsorships, where women’s sports are included only as an afterthought, and instead develop targeted, high-impact sponsorship deals that highlight the unique appeal of female athletes.
In Australia, female athletes face unique challenges, particularly in tier two sports like Water polo, Athletics, and Soccer. Many elite athletes in these fields are forced to relocate overseas to secure professional contracts that provide a liveable wage. Eighty per cent of investment in women’s sports goes into infrastructure and administration to build and support women’s sports, rather than a percentage going directly to the pockets of female athletes themselves. This forces athletes to juggle multiple careers or seek other means of support.
“This isn’t just a gender pay gap, it’s a multi-billion-dollar blind spot that brands, media, and sports organisations are failing to capitalise on.”
Clare Starling
Until we see meaningful changes in the investment, media coverage, and commercial strategy for women’s sports change, the cycle will continue.
The question isn’t ‘Can women make the top 100?’ It’s ‘How much longer will the industry ignore its biggest growth opportunity?’
The market is ready, the talent is undeniable, and the financial potential is clear. Brands, media companies, and sports organisations have an opportunity to change the conversation and tap into a rapidly expanding market. Women’s sports aren’t a niche; they’re the future. We need to start treating them that way.
Clare Starling is the co-founder of Inner Sanctum Sports Management, which is focused on unlocking opportunities for female athletes while delivering compelling commercial strategies for brands looking to connect with them. With a focus on advocacy, strategic brand partnerships, and career development, Inner Sanctum is the connective tissue between brands and athletes.
