Women's sports is in the spotlight, and the WNBA is ready to take advantage.
WNBA Commissioner Cathy Engelbert spoke on CNBC on Monday, April 8, the day after the dramatic NCAA Women's National Championship game, and talked about how she expects her league to grow over the next few years.
One of the most important drivers to any success for the league is its media rights deal — and Engelbert said it wants to "at least double" its deals which all expire after the 2025 season.
The league has deals with ESPN, Ion, and Prime Video — the last of which was extended until 2025 per an announcement on April 5. ESPN's deal paid the WNBA $27 million in 2021 and peaks at $33 million for the final season, while the Ion deal pays about $13 million annually, according to The Next.
The details of the Prime Video extension are unclear.
WNBA Commissioner Cathy Engelbert just told CNBC that the WNBA hopes to "at least double" its media rights fees for its next deal. The league's deals with ESPN, ION and Prime Video all run until the 2025 season.
— Colin Salao (@colincsalao) April 8, 2024
"Women's sports rights fees have been undervalued for too long."…
But doubling that media rights deal means that the league could be looking at a cumulative deal at around $100 million per season. In comparison, last year, the National Women's Soccer League (NWSL) signed a deal worth $60 million annually after its previous deal was worth just $1.5 million a year.
"We're setting this league up not just for the next three to five years with this next media rights deal, but for the next 30," Engelbert said.
She compared the value of this media rights deal to the NBA in the 1980s when prior 1987, the league would air at least some NBA playoff games on tape delay.
Engelbert pointed out the importance of Larry Bird and Magic Johnson to the growth of the men's league — which is an apt comparison as the WNBA's media rights deal comes as Caitlin Clark is expected to be drafted with the first pick in the 2024 WNBA Draft on April 15.
Clark has brought unprecedented attention to the women's game as Iowa's Final Four and Elite Eight games were the most-watched women's basketball games in history. The viewership results for Sunday's Championship Game are still unavailable, but they're expected to smash records.
The last two Iowa games were the most-watched Women's Basketball games in history. The UConn F4 game in particular obliterated past numbers.
— Colin Salao (@colincsalao) April 7, 2024
Today's National Championship between Iowa and the University of South Carolina will likely break that record again — especially because… pic.twitter.com/HAa0Et9glb
Her effect has already translated to the WNBA before she's even been drafted. The Las Vegas Aces announced on Friday that the team will play its July 2 game against the Indiana Fever — the team expected to draft Clark — at T-Mobile Arena instead of its usual home site of Michelob Ultra Arena.
T-Mobile Arena has a seating capacity of about 18,000, about 50% more than Michelob Ultra Arena.
Fever ticket prices have also been up across many of the team's websites.
The get-in price for the first Indiana Fever game in Chicago on June 23 are at $160, before taxes and fees.
— Colin Salao (@colincsalao) March 5, 2024
For perspective, the get-in tickets for the next home game on June 27 against the two-time defending champion Las Vegas Aces are at $25.
The Caitlin Clark effect. https://t.co/ybAnrdSCbn pic.twitter.com/awYPS7WN5s
Engelbert herself recognized Clark's effect, and also cited the "confluence" of the grand stage and other big names like Paige Bueckers, Angel Reese, and Kamilla Cardoso that have shaped this moment. She knows the WNBA is well-positioned to reap the benefits of this rise.
"You need three things in sports: Household names, rivalries, and games of consequence, and March Madness had all of that," Engelbert said. "We're hoping we'll capitalize on that in the WNBA."
