The 2024 Paris Olympics will make history by featuring an equal number of male and female athletes, marking a significant milestone achieved through years of effort by the International Olympic Committee to establish medal parity. This decision is influenced by the success of the 2023 Women’s World Cup in Australia and New Zealand, showcasing the growing popularity of women’s sports. The upcoming Olympics aim to strengthen the promotion of gender equality and emphasize the global significance of female athletes. Despite a positive trend, a recent survey by Sports Innovation Lab indicates that a mere 9% of sports media and sponsorship funds from over 25 Fortune 500 brands are currently allocated to women’s sports. However, there’s optimism, as 83% of respondents plan to increase investments in female sports in 2024, with a particular focus on the upcoming Olympics. This shift underscores a growing acknowledgment of the potential and appeal that women’s sports have for both audiences and corporate entities.

The success of the 2023 Women’s World Cup has spurred quick responses from major brands like Adidas and Nike, releasing replica jerseys worn by teams in the final to meet market demands. Nike, in particular, responded to fan feedback by producing a replica England goalkeeper’s jersey for Mary Earps, showcasing brands’ responsiveness to consumer sentiments. As the sports landscape evolves, experts, including Conrad Wiacek from GlobalData, highlight the cost-effective opportunities for brands to connect with female audiences through partnerships in women’s sports. Anticipating the 2024 Olympics, Visa, a longstanding Olympic sponsor, has pledged the highest percentage of women athletes in their “Team Visa” program, affirming a commitment to diversity. Athletes like Valarie Allman emphasize the importance of authentic connections between athletes and brands, signaling promising developments in sports sponsorship for 2024.