Euro 2022 Awakens Women's Soccer 'Popularity'... Companies Flock In [The Golden Age of Women's Sports?]

England women's football team player Chloe Keller (center) running after scoring the winning goal on the 31st of last month.
[Image source=AP Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] On the 31st of last month (local time), the final match of the 'UEFA Women's Euro 2022' between England and Germany was held at Wembley Stadium in London, UK. Chloe Kelly of the England women's football team scored the winning goal in the 5th minute of extra time. As she ran across the field expressing her joy amid the cheers of the crowd, she took off her top and waved it vigorously, revealing the Nike logo on the sports bra she was wearing, which was captured on camera. At the moment England secured their first championship in this tournament, Nike drew attention. A foreign media outlet described this scene as "Nike, which has supported women's football from the early days, has achieved success."

The match was watched by 17.4 million viewers through a live broadcast on the UK's BBC One. It recorded the highest TV viewership for women's sports held in the UK. The 90,000-seat Wembley Stadium was filled with over 87,000 spectators, the largest in the history of the Euro matches. Queen Elizabeth II of the UK praised the team immediately after their victory, saying, "You have become role models who inspire all girls, women, and future generations today."

Interest in women's sports, which had not received much attention compared to men's sports, is increasing, and the fan base is growing thicker. Companies and investors who see new opportunities are also quickly pouring in funds.

◆ Women's Cycling Revives After 30 Years... Women's Rugby World Cup Also

Global polling agency Ipsos revealed that in a survey conducted on 1,000 British adults on the 1st of this month, the day after the Euro 2022 final, 44% of respondents and 64% of those who identified as football fans said that their interest in watching women's football increased because of Euro 2022. Ipsos explained that there had been a perception that women's football was less entertaining than men's football, but this perception has decreased through the experience of Women's Euro 2022.

The growing interest in women's sports is not limited to football. According to a report by The Economist last month citing data from the women's organization Women's Sports Trust, the TV viewership for women's sports in the UK in the first quarter of this year increased by about 50% compared to 2019, before the COVID-19 pandemic. The viewership of the Women's National Basketball Association (WNBA) in the US also increased by 50% compared to the previous year, and the Women's Cricket World Cup held in the Netherlands in March and April recorded its highest viewership ever. On the 24th of last month, the women's edition of the world's most prestigious cycling race, the Tour de France Femmes, was held for the first time in 30 years.

Barriers are also breaking down. On the 4th, the AIG Women's Open (formerly the British Women's Open), a major tournament of the US LPGA Tour, was held for the first time at Muirfield in Scotland, a golf course previously known as a "men-only" venue. In October, the first-ever Women's Rugby World Cup will be held in New Zealand. The tournament name does not include the word "women" separately to distinguish gender.

◆ Nike's Women's Sports Sales Double in Two Years

Thanks to the popularity of women's sports, sponsorship from investors and companies is also increasing. The Economist diagnosed that while corporate support for women's sports in the past was driven by social aspects such as "gender equality," it is now focused purely on the growth potential of women's sports itself. Some advertisers believe that investing in women's sports is more profitable than expensive men's games.

[Image source=Yonhap News]

Since sponsorship fees for men's sports are already very high and competition is fierce, opportunities may arise in the women's sports sector, which has great growth potential. In Nike's case, sales of products related to women's sports reached $8.3 billion in fiscal year 2022 (June 1, 2021 ? May 31, 2022), which is significantly less than the $18.8 billion for men's sports products, but it has doubled in the past two years.

European women's football, a leader in women's sports, began securing independent sponsors from 2018. Nike, which gained attention in the Women's Euro 2022 final, signed a contract in 2019, just one year later, to supply match balls for all European women's football tournaments. The England women's football team is sponsored by Barclays, Visa, Nike, Heineken, and others.

Joe Tong, a football agent, recently told The Guardian that previously sponsorship inquiries came around the finals and then stopped, but interest has increased due to Euro 2022, and "now brands are looking into long-term contracts." ESPN, a US sports media outlet, recently promoted marketing executive Rachel Epstein to vice president to expand the female viewer base, considering the growing interest in women's sports.

However, support is still vastly insufficient compared to men's sports. According to foreign media, UEFA estimated that sponsorship funds obtained through this Women's Euro 2022 were $60 million (about 77.87 billion KRW). This is still a large gap compared to the men's tournament, which reached $1.9 billion (2.4646 trillion KRW). However, sponsorship amounts for women's matches are expected to increase from the next tournament onward.

The appearance of player Park In-bi who participated in the Women's British Open held at Muirfield, Scotland on the 4th. [Image source=AP Yonhap News]

◆ "Need to Preserve Unique Culture of Women's Games," Critics Say

Some voices argue that women's sports leagues should not simply follow the patterns of men's leagues created in the 20th century but should create a new identity. Sue Campbell, Baroness and head of women's football at the English Football Association, told the BBC that while inequalities in compensation and sponsorship between women's and men's football cannot be fixed quickly, this is an opportunity to engage associations, clubs, media, sponsors, and governments. However, she emphasized, "Before becoming too commercial, we need to maintain the feeling that women's games have. Equality does not mean being the same. We must preserve the beautiful culture that women's games have."

This content was produced with the assistance of AI translation services.