LSN : News : Stat: Women’s elite sports set to hit revenue milestone in 2024

Bombay Sapphire and Christian Siriano unveil holiday collection

Bombay Sapphire and Christian Siriano, Bermuda

Global – Gin brand Bombay Sapphire has partnered once again with fashion designer Christian Siriano to launch a capsule collection inspired by gin cocktails in December 2023. Following the success of Siriano’s Bombay Sapphire French 75-inspired haute couture gown at New York Fashion Week, the holiday capsule includes the Martini Clutch, the Bombay Sapphire and Tonic Blouse, and the Ultimate Collins Blazer.

All proceeds from the limited-edition capsule collection will be donated by the fashion designer to GLAAD, a non-profit LGBTQ+ advocacy organisation. As part of the gin specialist’s Saw This, Made This campaign, the collection illustrates how visual inspiration transforms into unique creations, embodying Siriano’s distinctive aesthetic.

‘What’s kind of interesting is I think pretty cocktails have become decor,’ said Siriano. ‘It didn’t used to be that way, I think people were just drinking to drink, but now you have a cocktail to be part of your look.’ To read more about what’s next for cocktails and spirits in 2024, Bacardi, in collaboration with The Future Laboratory, released its fifth annual Cocktail Trends Report earlier this month.

Strategic opportunity

Consider incorporating philanthropy into your business model by supporting social causes. Cause marketing, as seen with Siriano donating proceeds to GLAAD, enhances brand reputation and customer loyalty

Volvo joins forces with Starbucks to set up EV charging stations

Starbucks and Volvo, US

US – Global coffee giant Starbucks has rolled out 50 electric vehicle (EV) charging stations at 15 locations along the Denver to Seattle route in collaboration with Swedish car-maker Volvo. The charging stations, strategically positioned in Starbucks stores across Colorado, Utah, Idaho, Oregon and Washington, cater for electric cars equipped with CCS1 or CHAdeMO connectors.

Starbucks and Volvo initiated the project to tackle the shortage of EV charging infrastructure in North America, where only 32,000 DC fast chargers are available for the country’s 2.3m electric cars. A Starbucks spokesperson noted: ‘Seattle and Denver are two fast-growing EV markets, but importantly, the corridor that connects the cities is underserved when it comes to existing infrastructure, so we saw an opportunity to connect them.’

Starbucks aims to introduce charging stations compatible with Tesla’s North American Charging Standard (NACS) connectors and explore further partnerships with car-makers. Other major brands, including Taco Bell, Whole Foods Market, 7-Eleven and Subway, are also joining the trend by incorporating EV chargers outside their establishments. For more insights on the rising interest in electric vehicles, visit our Mobility topic.

Strategic opportunity

Hospitality professionals should consider identifying key routes or corridors with underserved EV infrastructure to strategically position themselves as venues and charging stations, enhancing accessibility and convenience for EV users

Twitch updates guidelines to allow artistic nudity and twerking

Twitch

Global – Interactive live-streaming service Twitch has published an updated set of Sexual Content and Content Classification guidelines, following an increase in sexually explicit content on the platform.

The new guidelines restrict the prominent surfacing of more sexually explicit streams through re-enforced Content Classification Labels, meaning that if a stream is flagged with a Sexual Themes Label viewers must provide explicit permission to view the video and it won’t show up as a thumbnail on the Twitch homepage.

The guidelines also introduce a range of ‘previously prohibited but now allowed with label’ content, that in many ways loosens restrictions more than ever. Explicitly permitted content now includes the deliberate highlighting of breasts, buttocks or pelvic regions, fictionalised (drawn, animated, sculpted) genitals and breasts, erotic dancing and body painting.

The new guidelines aim to classify sexually explicit content in a way that prevents it from being seen by the wrong audience such as children, while avoiding the censorship of erotic art forms and aligning Twitch with other more progressive Provocation Platforms. Some users, however, are concerned about giving Twitch the power to define what counts as art and what is porn.

Strategic opportunity

As platforms evolve and allow some explicit content, consider investing in or developing advanced community moderation tools that use AI and machine learning to detect and manage content that may violate guidelines, providing a safer and more controlled environment to your audience during live-streams

Stat: Women’s elite sports set to hit revenue milestone in 2024

Nike Women Spring 2023 campaign. Photography by Renell Medrano

Global – Deloitte predicts a ground-breaking revenue increase in women’s elite sports to over £782.9m ($1bn, €911.7m) in 2024, a 300% surge since 2021. This growth will be driven by commercial (55%), broadcast (27%) and matchday (18%) revenues. North America and Europe are expected to be the leading markets, capturing a market share of 52% and 14%, respectively. Football and basketball are projected to be the most valuable sports, contributing significantly to this rise.

The increased investment in women’s sports is enhancing professionalisation and spectator interest, exemplified by the technical advancement seen in events like the 2023 FIFA Women’s World Cup. Deloitte also expects a rise in the valuations of women’s elite sports teams and leagues, and predicts some will surpass £78.3m ($100m, €91.2m) in 2024. As explored in our Sports Rebranded analysis, women’s sports present a lucrative opportunity for investors to enter a burgeoning market where Gen Z fans celebrate gender inclusivity and the joy of participation.