If you’ve been hoarding a brilliant idea for a new sports league, now’s the time to pitch it.
What happened: Unrivaled, a new 3-on-3 women’s basketball league, just hit a US$340 million valuation following its debut season. The latest funding round drew in big names like Serena Williams, Alex Morgan, and Warner Bros. Discovery, which already has a US$100 million media deal with the league.
Catch-up: At least eight women’s pro sports leagues have launched just in the past three years, including the first women's baseball league in 70 years, the WPBL; the popular hockey league, the PWHL; and the Lindsey Vonn and Kevin Durant-backed League One Volleyball.
- Last year, women's sports teams and new leagues grabbed the biggest share of venture capital funding in the entire sports startup sector.
Why it matters: Unrivaled’s success is part of a wider trend, not just of women’s sports gaining popularity, but of new alternative leagues that cater to a young, digitally savvy generation of fans.
- Take the Kings and Queens soccer leagues in Europe, for example. The condensed 7-on-7 game was specifically designed to cater to Gen Z viewers watching on digital platforms, with shorter match times, smaller fields, and more scoring.
Bottom line: Alternative leagues have the flexibility to adapt to younger generations' infamously short attention spans. As the head of the Kings League put it, “If for three, four, five minutes nothing is happening, they swipe up.”—LA