Investments in women’s sports were historically “suppressed,” said Ohanian, who is also a cofounder of Reddit. And although women’s sports are “a ways from [being] overheated,” we’re starting to see it “whipsaw back quickly,” with the rise in valuations and team revenues.
“That sounds like a tech story,” Ohanian said. “It’s a women’s sports story.”
Ohanian also predicted we’ll see billion-dollar women’s sports teams in the next five years. To put that in perspective, though, all NFL and NBA teams are valued at at least $5 billion, and the MLB has more than a dozen franchises worth more than $4 billion.
Though Deloitte’s report shows women’s sports are projected to see a record-breaking $2.35 billion in revenue this year, that’s not even 3% of the $80 billion in total for both men’s and women’s sports.
“The projections going out five years from now will continue to increase,” she said. “But it’s not enough of the pie. It should definitely be bigger and more.”
“I sit with the fans physically in the stands,” he said. “I engage with them directly.”
That, along with the development of an app to watch games not accessible on TV, helps fans feel like the 12th player and brings in “a whole new generation of people that were not loved and appreciated.”
