Aug 11, 2024; Saint-Denis, France; United States fencers Maia Weintraub, Jacqueline Dubrovich and Maia Chamberlain celebrate during the closing ceremony for the Paris 2024 Olympic Summer Games at Stade de France. Mandatory Credit: Rob Schumacher-USA TODAY Sports
The Olympic Games are not just a celebration of athletic greatness; they are a powerful testament to the value of gender equity in sports. In a professional sports landscape that has historically undervalued and under-marketed women athletes, the Olympics have served as a (more) equitable playing field than women athletes typically encounter. The inclusion and prioritization of women athletes has not only enriched the Games in recent years, but it has also demonstrated that gender equity in sports is not just a moral imperative—it’s simply good business.
Now more than ever, the Olympic Committee is prioritizing gender equity in the Games. For the first time in Olympic history, the Paris Games achieved numerical gender parity on the field of play – meaning, the Games had the same number of female and male athletes competing. This is significant because it wasn’t until 2012 that women were even allowed to compete in every Olympic event, and it took until 2014 for the IOC to lay plans to work towards gender parity. What’s extra special about Paris 2024, is that women were not only equally included in competition during this Games, but women were quite literally the face of the Games. If you look at the official 2024 Olympic logo, you’ll see traditionally feminine characteristics that make up the iconic image of Marianne, who is a French woman chosen to be the first feminine face of the Olympic and Paralympic Games.
According to the IOC, “Marianne is a universal symbol embodied by iconic and influential women. She lends a human face to the Olympic Games, standing for the people and with the people. She symbolizes women’s emancipation and a strong signal that sport and its governing bodies are finally evolving.”
The design for the Paris 2024 Olympic Games in France is a unity of the gold medal, the flame, and the face of Marianne - a cherished symbol of the revolution and the people of France. Source: Olympics
Having a woman figure front & center in the brand identity of the Olympic Games is significant, but what’s especially important to note here is that a decision like this was most likely not taken lightly by the IOC. Knowing how big the business of the Olympic Games can be (during the last Olympiad, the IOC reported revenues of $7.6 billion USD), it would be surprising for the IOC to utilize branding that was not good for the organization’s bottom line.
By going all-in on Marianne, the IOC made a very intentional move to center women in their marketing strategy.
The IOC’s commitment to gender equity in the Paris Games is a significant milestone in the journey towards full gender equality in sports. It underscores the importance of inclusion, representation, and diversity in sports, and as the world watched the Paris Games, the message was clear: gender equity is here to stay, and it’s transforming the landscape of sports for the better.
In the current landscape of women’s sports where business results hit new heights almost daily, it’s not surprising to see a major sporting organization recognize the value of fostering gender equality in sports. However, while big results driven by women’s sports might be new in some corners of the sports industry, it’s certainly not a new phenomenon for the Olympic Games. Olympic ratings have a history of demonstrating that it’s good business to market and create opportunities for women athletes.
During the 2020 Tokyo Games, CBC reported that four out of the five most viewed events were women’s events, and in the U.S. 59.1% of primetime TV coverage was dedicated to women athletes. Also worth noting is that during the Tokyo games, social media buzz around female athletes frequently eclipsed that of their male counterparts and dominated online conversations. According to Zoomph, Gymnast Sunisa Lee generated $6 million in social value from just nine Instagram posts, Simone Biles' tweet thanking fans for supporting her decision to withdraw generated over 100 million organic impressions and $2.7 million in social value, and Katie Ledecky garnered 8.5 million organic impressions from her Instagram, with a staggering engagement rate of 12.83%.
Fast forward to 2024, and the success of the U.S. Olympic Trials foreshadowed that it will be another dominant year for women in the Olympics. NBC’s ratings for the 2024 Trials were up significantly, with women’s events leading the way.
An average of 7.6 million viewers tuned in across NBC and Peacock to watch Simone Biles qualify for her third Olympic gymnastics team, 4.5 million viewers (a 38% increase from 2021) tuned in to witness Sydney McLaughlin-Levrone set a new world record in the 400-meter hurdles, and roughly 3.2 million tuned in to watch Katie Ledecky in the U.S. Swimming Trials.
The Olympics serve as a powerful example of why gender equality in sports is good business. The inclusion and success of women athletes not only enhances the quality and appeal of the Games, but also drives significant economic benefits. From expanding viewership and engagement, to attracting sponsorships and promoting social change, gender equity in sports creates a virtuous cycle of growth and success. As we look to the future, it is clear that supporting and investing in women’s sports is not only the right thing to do – but is also a smart business decision. The Olympic Games prove that when it comes to sports, equality is not just a goal—it is a golden business strategy.
About Caroline Fitzgerald
Caroline Fitzgerald (she/her) is a contributing writer for Parity and the CEO & Founder of GOALS - a women's sports marketing consultancy & media platform. Caroline launched GOALS in 2020 after recognizing that there was an opportunity to help brands, networks and fans see the social and economic value that can come from investing in women's sports. GOALS also produces the leading women's sports business podcast - 🎙️The Business Case for Women's Sports, which is presented by Ally. For more information on GOALS, visit https://goals-sports.com or follow on Instagram, LinkedIn, Facebook, X (formerly Twitter) and Threads.
About Parity
Minority-founded in 2020, Parity's mission is to close the gender income and opportunity gap in professional sports. By developing high-impact collaborations between brands, professional women athletes and their fans, Parity has proudly put more than $3.5 million in the pockets of women athletes, attracting dozens of brands to the movement in the process. The platform offers connections to more than 1000 women athletes from 80+ sports, including well over 200 Olympians and Paralympians. For more information on how to tap into the rapidly rising influence and popularity of women athletes, visit https://paritynow.co or follow us on Instagram, LinkedIn, Facebook, X (formerly Twitter) and Threads.