Bank of America Institute shares new data insights on women’s sports fans

The GIST: This week, the Bank of America Institute — the bank’s internal think tank that analyzes consumer behaviors and trends from customer data — shared insights into how customers are engaging around women’s sports. The data supports trends we’ve seen, with these new numbers further strengthening the business case for women’s sports. Let’s dive in.

🚀 Women’s sports viewership in the U.S. has nearly tripled since 2020. Both traditional and social media outlets are increasingly catering to this audience that skews younger, affluent, and digitally native. It’s what happens when you put women’s sports on TV.

🥊 These engaged fans pack a punch. They’re driving greater live attendance, merch sales, and social media fandom, with surging interest in soccer, basketball, rugby, and cricket positioning the sector to grow at warp speed.

💰 These affluent, avid fans are pushing exponential revenue growth. The study projects more than 250% revenue growth across U.S. women’s sports by 2030, citing examples like soccer’s rapid influx of private equity investment.

🤝 And sponsors recognize the fiscal power of women in sports. Women are driving fandom growth across women’s sports and saw the wealth they control increase by 51% between 2018 and 2023. Their median deposit account balances are up 35% from the 2019 average, and according to Bank of America data, their discretionary spending growth outpaces male customers.

The takeaway: It’s no coincidence financial brands are branching out from golf and tennis to meet women’s sports fans: They’re proven to be brand-loyal, and are willing to spend on travel for their fandom. Ally’s been rewarded for its commitment in this space, making a strong case for what the financial sector can gain from broad women’s sports sponsorship. Deposit that in the memory bank.