There’s no question that the WNBA has gained significant momentum, especially with the arrival of standout stars like Indiana Fever guard Caitlin Clark and Chicago Sky forward Angel Reese. Their presence, along with a talented 2024 rookie class, has generated unprecedented buzz around the league, contributing to packed arenas, soaring merchandise sales, and a surge in TV viewership.
Despite this exciting growth, the WNBA remains unprofitable for its investors. According to a report by Josh Kosman and Brian Lewis of the New York Post, the league is projected to lose $40 million during the 2024 season. While substantial, this figure is an improvement from the previously anticipated $50 million loss.
The WNBA is majority-owned by the NBA, which holds a 60 percent stake in the league. When factoring in the shares owned by individual NBA team owners, that percentage rises to 75 percent. According to a league executive quoted by The Post, “the WNBA owes the NBA so much we won’t see any windfall for years,” indicating that the financial challenges are long-standing and may take time to resolve.
The 2024 season has seen explosive growth for the WNBA, largely driven by rising stars like Clark and Reese, who have captivated fans and sparked significant interest. TV viewership across ESPN networks skyrocketed by 170 percent, while the league experienced a massive increase in sellout games—jumping from 45 in 2023 to an impressive 154 in 2024.
Merchandise sales also soared, with a staggering 601% combined increase in sales from the league’s flagship store and website compared to the previous year.
While the WNBA’s financial struggles persist, there is hope on the horizon. The league recently secured an 11-year, $2.2 billion media rights deal set to begin in 2026.
This agreement is expected to bring in a significant revenue boost, with at least a $100 million annual increase from the current media contracts, which generate approximately $60 million annually. This deal could be a game-changer for the WNBA’s financial future.
However, there are still uncertainties surrounding the league’s profitability, particularly with the upcoming collective bargaining agreement (CBA) negotiations.
WNBA players are expected to opt out of the current CBA by the November 1 deadline, and potential salary increases could impact the league’s bottom line.
For now, the WNBA continues to grow in popularity and cultural relevance, but its financial viability remains a challenge.
As the league looks to its future, including the benefits of the new media rights deal, the hope is that the rising tide of interest will eventually lead to sustained profitability for investors.
