WTA Ventures reports 24% revenue growth since 2023 launch

The GIST: Last March, the WTA established WTA Ventures, a unique strategic partnership with CVC Capital Partners to create a commercial branch of the women’s tennis tour dedicated to boosting revenue and ROI for the tour. And now the results are in: WTA Ventures increased its revenue by 24% in its first year, setting a new record for the tour. Quite the advantage.

The media reach: By the end of October 2024, the WTA reached 6.3M total followers on social media, a 26% audience increase YoY. This was partially thanks to a 125% increase in YouTube subscribers and the tour’s 430K TikTok followers within eight months of its account’s launch. Video views across WTA socials were up 195% since the beginning of 2024, including 400% on Instagram.

• The WTA signed with UK–based Sky Sports and Chinese streaming platform Youku, while also brokering a CCTV deal to show the WTA Finals throughout China. Additionally, the women’s tour will likely benefit from a 12-year US Open contract with ESPN.

The partnerships: WTA Ventures doubled down on strong sponsor relationships in finance, tech, and luxury goods by renewing with Morgan Stanley, corporate pay leader Corpay, and sports statistics platform Stats Perform, while also signing a new global agreement with iconic watchmaker Rolex.

• But the WTA’s biggest — and most controversial — sponsorship win was an extensive partnership with Saudi Arabia’s PIF wealth fund, which now holds the naming rights for the tour’s official rankings. Additionally, the Saudi Tennis Federation inked an agreement to host the WTA Finals through 2026.

Looking ahead: WTA Ventures chief executive Marina Storti told SportsPro Media it plans to triple revenue between 2023 and 2029 by launching a new brand identity and creating a premier sponsorship package. These innovations could also produce a playbook for how venture capital firms (like CVC) can work with leagues to boost ROI without being involved in ownership.

• Storti also mentioned the WTA wants its brand to become a household name, so it bodes well that Gen Z stars like Coco Gauff and Iga Świątek are winning over younger fans and sponsors. Racking up points.