Women’s sports are ready to take Canada by storm

The GIST: Women’s sports are ready to take Canada by storm. A study published Monday revealed that the nation’s professional women’s sports market is currently estimated to be worth $110M to $148M, providing the first step towards understanding the untapped Canadian landscape.

The findings: Around 67% of the market value comes from women’s sporting events hosted in the Great White North and international competitions featuring Canadian women athletes. The three most valuable events? The Olympics, tennis’ National Bank Open, and golf’s CP Women’s Open.

• Sponsorship and broadcast revenue from the Olympics drives 40% of the entire market share on its own, while 15% of the overall value is related to star Canadian women athletes’ endorsements.

The fanbase: Canada’s budding women’s sports audience is the definition of target demo — 40% of the country’s avid fans are aged 18 to 34 and 30% represent communities of color. By comparison, Canada’s men’s pro sports fan base only hits 30% and 20% in the respective age and race groups.

The recommendations: Among other things, the study suggests that Canada’s nascent pro women’s sports scene diversifies its revenue sources instead of relying heavily on broadcast bucks. Potential solutions include luring international investors and leaning into inclusive messaging. Equity always wins.

Zooming out: This study provides the first true glimpse at the money Canada is leaving on the table without professional women’s sports, and the timing couldn’t be better. The country will welcome a soccer league (and perhaps a PWHPA startup and WNBA team) soon, and the powers-that-be now have numbers to begin selling ROI to sponsors and investors alike.

• As the world’s ninth-largest economy, Canada should also be able to successfully book international stakeholders and drive up the market’s value with some serious investment. Not a bad business case for women’s sports, eh?