A new whitepaper, Rise of Women's Football - A Movement, Not a Moment , highlights the accelerating growth of women's football and the pressing need for increased investment and media coverage.
New research finds that over half (54 per cent) of the global population aged 16-64 is interested in women's football, yet 76 per cent of fans feel they do not see enough coverage of the sport. With the game's rapid ascent, now is the opportune time to invest in and champion women's football.
Associate Professor in Accounting and Sport Finance at the University of Portsmouth, Dr Christina Philippou , is an expert in football finance. She was one of the researchers contributing to the paper, which was commissioned by SPORTFIVE.
Dr Philippou has written and leads football finance courses for the Premier League's leadership program, and co-authored two reports on football financial sustainability for the Department for Culture, Media and Sport published alongside the Government Response to the Fan Led Review of Football Governance and the White Paper Consultation . She has also contributed to the government-commissioned independent report , led by former Lioness Karen Carney MBE, into the future of women's football.
We have seen dramatic increases in revenue in women's leagues and clubs over the last few years, though this is still concentrated in less risky markets and more globally recognisable brands. While broadcasting and match day income is increasing as interest and funding go into the development of the game, it is commercial partnerships that are leading the way, with a large number of brands that have previously avoided football - from make-up to baby products - pushing into the space and changing perceptions along the way. This can only be a good thing for the future of the sport.
Dr Christina Philippou, Associate Professor in Accounting and Sport Finance at the University of Portsmouth
The whitepaper examines the evolving commercial landscape of women's football, providing a roadmap for brands, rightsholders, media platforms, and fans to navigate and contribute to the sport's flourishing ecosystem.
Key insights include:
- 196 million fans of women's football aged 16-64 across six key markets: Australia, France, Germany, Spain, the UK, and the US.
- 75 per cent of fans feel they do not see enough coverage of women's football.
- National teams are the primary driver of fan engagement.
Women's football is experiencing unprecedented growth, with soaring popularity and commercial opportunities emerging across all levels. In 2024, it became the most valuable women's sport globally, generating an estimated €500 million in annual revenue, accounting for over 45 per cent of the total revenue of women's sports worldwide. While still a fraction of the men's game, which generated €38 billion in Europe alone, the rapid growth of women's football revenue, a 300 per cent increase since 2021, highlights its vast potential.
Dr Philippou explains: "In many ways, the commercial landscape of women's football is viewed akin to that of a start-up industry, mainly because it inevitably gets compared to the mature market for men's football.
"We have seen dramatic increases in revenue in women's leagues and clubs over the last few years, though this is still concentrated in less risky markets and more globally recognisable brands. While broadcasting and match day income is increasing as interest and funding go into the development of the game, it is commercial partnerships that are leading the way, with a large number of brands that have previously avoided football - from make-up to baby products - pushing into the space and changing perceptions along the way. This can only be a good thing for the future of the sport."
The whitepaper analysed four key components shaping the future of women's football: fans, brands, media, and players.
The findings from 'Rise of Women's Football - A Movement, Not a Moment' illustrate the immense potential of the sport and the necessary steps to maximise its commercial and cultural impact. As women's football continues its rapid ascent, stakeholders across the industry must act now to shape its future.
