Investments in Women’s Sports | 2023 Michigan Ross Sports Tech Conference

On March 24th, the 2023 Michigan Ross Sports Tech Conference brought together a group of all-star women’s sports advocates and leaders to discuss trends, perspectives, growth and investment in women’s sports and leagues. The panel event was moderated by Dr. Ketra Armstrong and consisted of questions from attendees and deep-dives into the trends and experiences of each associated panelist.

A brief bio about the event’s moderator and speakers:

Dr. Ketra Armstrong – A professor in the School of Kinesiology and sport management, and the director of the Center for race and ethnicity and sports. She is a former student, athlete coach and administrator, and the former president of the National Association for Girls and Women in sports. 

Victoria Brumfield – The CEO of USA Triathlon, the national governing body for the whole sport across the United States as well as the Olympic and Paralympic pipeline. She has spent 25 years working in primarily endurance sports on both the agency and the brand side.

Nicole Pawlak – Head of Special Projects for Athletes Unlimited, which is the new network of pro sports leagues, like  women’s basketball, volleyball, softball and lacrosse. Her role in Special Projects consists of managing anything and everything that is needed across the league. She manages everything from innovation, up and coming Nike tops, FTS, the metaverse to sports betting.

Kate Veronneau – Director of Women’s Strategy at Zwift. Zwift is a fitness company born from gaming. As Veronneau describes, Zwift is the Metaverse of cycling and running virtual platform that has now started to create real world opportunities. This past summer, the company was the title sponsor of the first women’s Tour de France in 30 years. 

Olga Harvey – Chief Strategy and Impact Officer at the Women’s Sports Foundation. The foundation was founded by Billie Jean King, to fight for gender equity in sports and beyond. As we know, sports are a microcosm of society. Harvey grew up in Russia and played collegiate Tennis in the U.S., and like many collegiate student athletes who went pro in something other than sports, she had a business career for 20 years before switching to the world of philanthropy, with the Women’s Sports Foundation. 

Key Takeaways From the Panel Discussion:

1. When thinking about the current state of women’s sports and trends and patterns in women’s sports: We heard from Victoria that representation and strategic thinking are essential in investing in women’s sports and creating an impact. Long-term investment in women’s sports can create new revenue opportunities over time. Kate mentioned women’s sports offer innovation and opportunities for the future of sport, including new fans, personalities, action, sponsors, and investment. Women’s cycling, in particular, has great business potential and offers opportunities to connect with audiences in new ways and elevate women’s sports.
2. On the strategies to build representation and initiatives for investing in women’s sports: From Olga, we learned that protecting and preserving Title Nine legislation has brought more girls to play sports. Like the efforts from the foundation, providing role models for girls and women, including starting a fund for the advancement of women in coaching, as there is a trend in the lack of women coaches and role models. Investing in women’s sports is a savvy business investment, and the ROI is high. Success builds on success, and welcoming everyone in the game is important.
3. Ways companies could invest in women’s sports: Nicole mentioned that Athletes Unlimited heavily invests in media and broadcast, with a large content team focused on engaging and innovative content. The company’s unique approach of putting athletes in the driver’s seat, is contributing to its growth and success. Players are in control, with player executive committees making decisions on rules, engaging in content & media, game content, broadcast, talent, partnerships, and more.
4. Thinking about brand value, buying power of women, role of sponsorships and good partners: Like Zwift’s mission, Kate suggests investing and resonating with audiences. Zwift’s partnership with the first women’s Tour de France is seen as a powerful move, beyond just brand awareness. Zwift’s mission is to have more women on bikes all around the world, and being part of this race is an important step towards that. The partnership has provided Zwift with a strong brand move and a chance to be a game changer in the sport. The partnership has also been a case study and a powerful driver for inspiring and increasing participation in cycling. Zwift wants to be part of the effort to bring the race to a wider audience and believes that women deserve this phenomenal action.
5. On identifying good partnerships: Nicole mentions the importance of partnerships with companies that share the same values and are willing to take risks and innovate are important for growth. Partnerships should go beyond just logos and result in initiatives that benefit both parties, like investing in initiatives like becoming the first carbon-neutral sports league or EA’s civic leadership award.
6. On ways to use your platform to showcase the power of Women’s Sports to drive change in the DE&I space: From Olga, breaking down inherent biases associated with women’s sports is essential, and investments are crucial to providing access and opportunities. Girls of color, girls with disabilities, and LGBTQ youth need sport as much as everyone else, and investments can instill confidence in them. Breaking the stigmas of biases and how we talk about sports is crucial to change how we view women’s sports, and to recognize coaches like Coach Hutch who have been overlooked. Women athletes need to continue to use their platforms for activism, social justice and to do social good.
7. Using media to add value to partnerships and increasing exposure: From Victoria, there has been a rise in media coverage focusing on women’s cycling, and the quality of the coverage has improved, leading to increased fan bases and record-breaking audiences. The more we see great coverage and broader representation, the more we are building fan bases and building the story of the athletes. From Nicole, we need to get women in primetime, they deserve it and ratings will show that women should be there. Leverage partnerships and talent to echo messages to ESPN and other primetime windows.
8. Understanding the opportunities and obstacles: Olga mentions that there is a growing interest and momentum in investing in women’s sports teams and platforms, and that when men invest in women’s sports, it generates buzz and attention. However, there are still obstacles to overcome in achieving gender equity and breaking down societal stigmas associated with women’s sports
9. Lastly, if resources, money and time were of essence, where should investment in women’s sports occur:
   Kate –  Broadcasting! For cycling for instance, if you give women the peloton the exact same coverage as men’s. Visibility is the key to unlocking exposure, participation, investment and inspiration.

   Victoria – I’d buy my way into making Triathlon a scholastic sport. I would partner with cycling to create a women’s series and televise it all.

   Nicole – Salary! There are women who rival male athletes. Players need equal and if not plus, so they can actually focus full-time on the sport for a living, so they don’t have to play in multiple leagues.

   Olga – I would have to split my pot – we have to put some money in the access and focus on the collegiate space. We have money for football and basketball, but how come other sports are on the chopping block? Let’s make sure all of the sports that have become an amazing pipeline for olympics and paralympics are thriving and more student athletes, both men and women, play diverse sports and have a chance to lead us to sport access.