The WNBA and the value of women’s sports
Women’s basketball is key to fueling the value of the women’s sports investment narrative.
College Level
9.9M viewers to 2026 NCAA WBB Championship (ESPN)
1M or more viewers to 21 NCAA Tournament games (Nielsen)
Pro Level
$45 million in revenue earned during Unrivaled Season 2 (Unrivaled)
+19% increase in WNBA Draft viewership (Nielsen)
3.8 billion minutes viewed in 1st half of 2026 season (Nielsen)
With the WNBA celebrating its 30th season, the league is mature compared to upstarts like PWHL, AUSL, or even NWSL. Across each WNBA franchise, valuations are expanding rapidly. In just two years, each team has seen triple-digit increases in estimated valuation.
Source: Sportico
Prior to the 2026 season, Sportico’s analysis put just four franchises at or above $100 million. This year, not a single team is valued below $250 million.
Source: Sportico
Who's marketable in the WNBA?
Fan signals on the unmet demand and marketability of more WNBA stars.
A national sports retailer expanded inventory from a reported 160 stores with WNBA apparel to all 724 locations stocked with Caitlin Clark gear. And while this one player represents a sea change in engagement and discourse, does that really mean she's the only marketable “face of the league.”
60% of consumers who specifically intended to buy women's sports merchandise walked away without completing a purchase solely because they could not find available inventory. A move that could be seen by the industry as a crowning achievement for a WNBA athlete, also fails to close the gap consumers are really shopping for. For W fans looking to shop their local team or favorite stars, many see the expansive selection of just one player as a major miss.
Making up a reported 64%-70% of rosters, Black women are still the majority of the WNBA. In fact, across major professional women's sports leagues the W remains the only one with a majority of African American athletes. By contrast, Black women make up just 2.5% of the PWHL, including a recent historic draft class. The NWSL boasts about 12% Black women--up from less than 4% in 2020. So why is there so much hesitation to center Black WNBA stars?
The case studies for marketability beyond one player are clear.
With over 100 games broadcast nationally last season, Clark played in just 13. Yet the WNBA achieved its most-watched season ever, up 16% over the prior year per Nielsen.
2025 Regular Season
1.3M average viewers
up 6% YoY
2025 Post Season
1.2M average viewers
up 5% YoY
Source: Nielsen
And it's more than just viewership. Fans are showing support with their buying power. Stars like A'ja Wilson and Angel Reese have been selling out signature shoes. Sabrina Ionescu is in her fourth signature release. Fashion-forward sports apparel brand, Playa Society sold six figures in Las Vegas Aces merchandise after they won the championship last season.
These signals point to the diversity of the WNBA fanbase and the opportunity to serve each segment with the icons, coverage, and apparel they're seeking out. As the league grows to new heights, the Black women behind The W's success deserve their shine–and their jerseys should have a spot on the shelves.