Leadership / 06.14.23

Sportico's WX3 Conference Spotlights Women Driving Sports Business

Access Staff

Sportico (06/07/23) Caron, Emily

Sportico's WX3 Conference highlighted women's role in the sports industry, with women leaders sharing their wisdom on what goes into a successful business. Michelle Wilson of Isos Capital Management and a member of the WWE Board used the $21 billion WWE-UFC merger to stress the importance of delivering a live audience and "synergies." She cited the merged entities' revenue streams — including media rights, live-event merchandise, consumer goods and ticketing — and the influence stemming from the combined group. Wilson presented the business case for drawing more institutional investors into sports, noting "it is an asset class that's recession proof, and valuations in sports have continued to grow. The financial profile is just amazing. When there's predictable revenue streams, that makes an asset class very, very interesting." Goldman Sachs managing director Stacy Sonnenberg expects major sport leagues to soon outprice individual investors and demand more space for institutional participation, saying private equity is in some instances the only option amid high team valuations. Also discussed was the need to cultivate partnerships between brands and properties with common values. DraftKings' Stacie McCollum pointed to the role of data in driving modern marketing and content initiatives, noting brands strive to personalize their products to targeted audiences. Premier Hockey Federation Commissioner Reagan Carey and Athletes Unlimited co-founder Jonathan Soros talked about prioritizing player interests, with both speakers aiming to elevate their respective women's sports leagues. "The moment we're in is a moment that was built intentionally by generations of women, both at the collegiate level and at the professional level, doing this work," Soros commented.

Read the full story from Sportico.

Tags: Leadership , Women in Sports