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The final four men’s teams competing for the NCAA Division I Tournament championship will average $19.3 million in annual revenue in 2022, nearly four times the $5.2 million average for the four women’s teams, the data shows. It became clear. US Department of Education. The latest year available is his 2022 data.
Primary sources of revenue include conference television contracts distributed among member schools, NCAA championship contests, sponsorships, and ticket sales.
On the men’s side, defending national champion University of Connecticut reported $24.1 million in revenue in 2022, compared to North Carolina State, which had the lowest revenue of the four teams in the 2024 Men’s Final Four at $15.4 million. 56% higher than universities.
For women, the University of South Carolina, which has won two national championships in the past seven years, led the way with $9.5 million. That’s about 760% more than the $1.1 million earned by North Carolina State University, the lowest earner in the women’s Final Four.
Men’s college basketball final four schools earn:
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University of Connecticut — $24.1 million
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University of Alabama — $19 million
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Purdue University — $18.9 million
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North Carolina State University — $15.4 million
Revenues for the women’s college basketball final four schools:
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University of South Carolina — $9.5 million
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University of Connecticut — $8.5 million
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University of Iowa — $1.7 million
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North Carolina State University — $1.1 million
Star power closes the gap
The good news for women’s college basketball is that it has star players like the University of Iowa. More people are taking notice, including Caitlin Clark, Angel Reese of Louisiana State University, JuJu Watkins of the University of Southern California, and Paige Backers of the University of Connecticut.
Iowa State’s tournament win over LSU averaged 12.3 million viewers on ESPN, according to Nielsen. Additionally, of his first 64 games in the men’s tournament, only one of his games drew a larger crowd, with North Carolina State’s win over Duke in the Elite Eight averaging 15.1 million fans. viewers gathered. According to ESPN.
Much of women’s basketball’s newfound popularity can be attributed to the introduction of name, image, and likeness (NIL) transactions. Bruce B. Siegel, a partner in the entertainment and sports practice group at law firm Greenspoon Marder. Our office also anchor impact fundthe NIL Collective that works with Vanderbilt University athletes.
NIL contracts allow college athletes to earn money to promote products and companies.
“I think NIL played a very important role because now we can truly see what the Caitlin Clarks, the Angel Reeses, the Fraujay Johnsons of the world are capable of, the JuJu Watkins.” Siegel told Business Insider. “They can go out and merchandise and appear in commercials, be active on social media, and participate in sponsorships that highlight them, making the whole fan experience more exciting.” I think it will be.”
It will take some time for income inequality to narrow.
With this growing popularity, Women’s Sports Revenue Big profits can be made.
The bad news is that it will likely be a while before hopes of closing the gap with men’s sports become a reality.
Many women’s college basketball teams have set attendance records and may see increased revenue from subsequent ticket, merchandise and benefit sales. for example, 30 of 32 regular season games The University of Iowa women’s basketball team played in front of a record-setting or sold-out crowd.Schools that hosted the Hawkeyes Match attendance increased by an average of 150% compared to games against other schools, according to the Associated Press.
But television contracts are the biggest source of revenue for college sports teams, and women’s teams will likely take even longer for their TV contracts to grow.
For example, the NCAA and ESPN have a deal to broadcast championship events for 40 college sports, including women’s basketball. Doesn’t expire until 2032. The deal is worth $115 million annually and must be shared by all sports, but women’s basketball will generate the most revenue and get the biggest slice of the pie.
Meanwhile, the NCAA sold television rights for the men’s basketball championship separately from other sports.men’s college basketball contract worth more than $1.1 billion annually And it will also pass in 2032.
Those watching the income gap between women’s and men’s college basketball teams narrow may need to be patient.
Correction: April 6, 2024 — This story has been corrected to reflect the names of the three Final Four schools. Participating in the tournament are the University of Alabama, Iowa State, and the University of South Carolina, not Alabama State, Iowa State, or South Carolina State.