As the New York Liberty celebrated their historic victory over the Minnesota Lynx in Game 5 of the WNBA Finals at Barclays Center, the 2024 season marked a pivotal moment for the league. This campaign not only heightened the WNBA’s financial outlook but also set the stage for future developments that may not be straightforward.
With a new $2.2 billion media deal on the horizon, the WNBA stands poised for potential profitability for the first time. This shift will also impact collective bargaining negotiations. The league has announced the addition of three expansion teams in the next two years: Golden State, Toronto, and Portland. However, as the WNBA’s audience expands, it faces the challenge of reconciling differing values between long-term supporters and new fans, a situation that has already created tension among players, fans, and WNBA leadership.
WNBA’s Business Highlights from 2024
The league saw a surge in attendance and viewership thanks to an influential rookie class, including Indiana Fever guard Caitlin Clark and Chicago Sky forward Angel Reese. Their success in college translated into record-setting statistics for the WNBA in terms of annual and single-game attendance, TV viewership, and draft viewership.
Clark, named Rookie of the Year, drove a remarkable 319% increase in home attendance for the Fever. Every team reported year-over-year increases in ticket sales for 2024. Meanwhile, Reese set a record for consecutive double-doubles, securing multiple sponsorships and launching her own podcast.
Veterans also shone this season, with Las Vegas Aces star A’ja Wilson achieving the highest single-season scoring average and unanimous MVP recognition. The Finals showcased intense competition, featuring standout performances from stars like Jonquel Jones, Breanna Stewart, Sabrina Ionescu, Napheesa Collier, and Courtney Williams.
The viewership for the Finals set records despite the absence of the highly touted rookies, and overall team valuations across the league have risen. With increased interest in women’s college basketball translating into tangible growth for the WNBA, top prospects such as Paige Bueckers and JuJu Watkins are expected to bring further momentum to the league in the coming years. Both were seen as VIPs at multiple WNBA games this season.
Media Rights and CBA Sticking Points
The upcoming $2.2 billion media package with Disney, NBC, and Amazon, effective for the 2026 season, signals that broadcasters view the WNBA as a long-term investment. However, this newfound revenue may lead to increased demands from players, especially after the NWSL’s players’ association successfully negotiated a player-friendly new CBA.
Liberty forward Breanna Stewart emphasized the need for the salary cap to rise alongside the new TV deal, expressing concerns about how that balance can be achieved. The WNBA Players Association (WNBPA) has until November 1 to opt out of the current CBA, which is set to expire in 2027. Should they opt out, they will have until the end of next season to negotiate new terms, or risk a work stoppage that could impede the league’s progress.
WNBA Expansion Brings Optimism
Next season, the Golden State Valkyries will be the first of three new teams to join the league, followed by teams in Portland and Toronto in 2026. This expansion reflects the WNBA’s optimism for growth.
Commissioner Cathy Engelbert mentioned the possibility of a 16th market being added in the coming decade, stating, “We’re getting a lot of calls, we’re continuing to engage with cities.” This expansion comes after a long period of stability; the last team added was the Atlanta Dream in 2008. As the WNBA embarks on this growth phase, it will need to adjust its marketing and media strategies to accommodate new teams while ensuring the original franchises do not feel neglected.
The recent branding issues in the NWSL highlight the potential PR challenges associated with expansion if not managed effectively.
Growing Pains Accompany Fame
As the WNBA gains popularity, it also grapples with the challenges of rapid success. While players appreciate the increased attention, they express concerns about the negative energy surrounding this growth. Players like Stewart and Wilson have publicly called for stronger action from the league against online harassment.
Tensions escalated last month when Engelbert faced backlash for comments made at a CNBC event regarding social media negativity related to the competitive history between Clark and Reese. Engelbert later apologized, acknowledging her failure to adequately condemn the hateful speech directed at WNBA players.
League officials recognize that the issues arising from the 2024 season will persist, especially as audience growth continues. Following incidents of threatening communication directed at Stewart’s wife during the Finals, league officials pledged to implement safety measures for players and teams. How the WNBA addresses these conflicts will shape its culture and influence future viewership.
Conclusion
Overall, the WNBA’s year-over-year business outlook is seen as greatly improved. However, navigating the complexities of this success will be crucial as the league heads into a transformative period. With expansion on the horizon and new media partnerships in play, the WNBA stands at a critical juncture, where its strategies will determine the trajectory of its future.
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