The Women’s National Basketball Association (WNBA) is poised for a significant boost in its domestic media rights deal, potentially worth as much as $260 million annually, a substantial increase from its current agreements. This new valuation more than quadruples the existing deal’s worth.
The National Basketball Association (NBA) is expected to finalize its rights with Amazon, ESPN, and NBC in contracts totaling $75 billion over 11 years, starting from the 2025/26 season. Notably, these broadcasters will also include WNBA games in their packages. The estimated value of WNBA rights within this deal is $2.2 billion, or $200 million per season. Additionally, the WNBA plans to offer two extra packages of matchups independent of the NBA, which could further increase revenue.
The WNBA’s national media rights agreements with ESPN, NBC, and Amazon will bring an average of $200 million per year to the league. pic.twitter.com/k8cgJLgjTz
— Yahoo Sports (@YahooSports) July 17, 2024
WNBA commissioner Cathy Engelbert had previously set a target of doubling the league’s current annual earnings of $50 million to $60 million from partners like Amazon, CBS, ESPN, and Ion Television. The new figures significantly surpass this goal. Currently, ESPN contributes the majority of this revenue through its bundled deal with the NBA. There had been speculation about unbundling these rights to maximize their value, but the WNBA has chosen to enhance the existing strategy instead.
All parties have agreed to revisit the financial terms in three years to ensure they reflect the WNBA’s value accurately. This deal will surpass the National Women’s Soccer League’s (NWSL) four-year, $240 million contracts, making it the most lucrative broadcast agreement for any professional women’s sports league.
The NBA has not yet confirmed its future broadcast plans, but it aims to provide more details before the Paris 2024 Olympic Games. However, Warner Bros Discovery (WBD), an existing partner, has the right to match any offer accepted by the NBA from a competitor, potentially affecting the announcement.
The WNBA is in a strong negotiating position, benefiting from decades of investment and a surge in popularity for women’s sports. The league has set numerous television and attendance records over the past 18 months and is further bolstered by a standout draft class, including Caitlin Clark, who has a substantial following from her college basketball days.
WNBA’s $2.2B Media Rights Deal Marks 6x Jump for League 📈https://t.co/ejLawIncsO via @sportico @kbadenhausen #SportsBiz | #WNBA
— Scott Soshnick (@soshnick) July 17, 2024
Broadcasters are increasingly turning to sports to secure large live audiences, and the WNBA’s ability to attract younger, more diverse viewers makes it especially valuable for streaming services. Engelbert’s goal to double the league’s deal values has been surpassed by the current estimates. The new structure of the contracts, involving key broadcasters, will provide significant exposure and promotional opportunities for the WNBA. Additionally, Ion Television’s successful coverage positions it as a strong candidate for one of the remaining deals.
Revisiting the financial terms in three years will allow the WNBA to capitalize on potential growth quickly, ensuring the league remains competitive and financially robust.
Key Points:
- The WNBA’s next domestic media rights deal could be worth up to $260 million annually, far exceeding current agreements.
- The NBA’s upcoming rights deal with Amazon, ESPN, and NBC includes WNBA games and is valued at $75 billion over 11 years.
- The WNBA plans to offer two additional independent packages, potentially increasing revenue further.
- The league’s current earnings from partners like Amazon, CBS, ESPN, and Ion Television will be significantly surpassed.
- The WNBA is in a strong position, benefiting from increased popularity and aiming to capitalize on further growth through revisited financial terms in three years.
Kirk Volo – Reprinted with permission of Whatfinger News
