Jessica Berman on Revolutionizing the NWSL: Expansion, Media Deals, and Player Agency

NWSL's "Vibes" and Rapid Growth

• 💡 The NWSL fans' top unprompted descriptor for the league is "vibes," indicating a strong positive sentiment and connection.
• 🚀 The league has seen an incredible start to the 2025 season, including the launch of an original docu-series on Amazon Prime and a prominent Times Square takeover.
• 💰 A significant business initiative is the 16th expansion deal with Denver, representing the largest single investment in women's sports history, with an $110 million expansion fee and a commitment to purpose-built facilities.

Valuations, Media Rights, and Partnerships

• 📈 Franchise valuations have grown exponentially, from around $5 million before 2022 to over $100 million for the Denver expansion, driven by increasing revenue streams.
• 🤝 The NWSL is in the second year of a four-year media rights deal with Amazon, ESPN, CBS, and Scripps ION, intentionally structured to ensure partners invest in the league's growth.
• 📺 The league's media partners are actively promoting NWSL games, providing invaluable exposure during major sporting events.

Understanding the NWSL Audience

• 📊 The NWSL boasts one of the lowest average viewership ages among live rights holders, appealing to brands seeking younger demographics.
• 🌍 The audience is highly multicultural and skews heavily female (60-65%), a key demographic controlling significant household spending.
• 📱 Viewership is balanced between linear TV and streaming, with fast channels offering new avenues to reach fans.

Strategic Expansion and Player Development

• 🎯 The NWSL aims to scale to 30-32 teams, mirroring the size of leagues like the NFL, with expansion decisions prioritizing the talent pipeline for players and technical staff.
• 🌱 Rationalizing growth through the lens of the game itself, the league is focusing on developing the path to pro and investing in the ecosystem.
• 📈 Denver's expansion team has already secured over 10,000 season ticket deposits in under two months, demonstrating strong market demand.

League Innovation and Player-Centric Approach

• 🔑 A bold move was eliminating the player draft in the new collective bargaining agreement, making all players full free agents upon entering the league.
• 🌟 This player-first approach, granting players agency, is crucial for competing globally, as most international soccer leagues do not have drafts or reserve teams.
• ⚠️ Potential risks of eliminating the draft, such as maintaining competitive balance and filling the offseason content gap, are being addressed through other mechanisms like the salary cap and potential combine events.

Challenges and Competitive Advantages

• ⚠️ Competition for attention and disposable income from other sports and entertainment, including a significant influx of soccer content, presents a challenge.
• 🚀 The NWSL's primary superpower is its independence from men's leagues and federations, allowing it to make decisions solely in its own best interest.
• 💰 While global competition for players exists, the NWSL's ability to make top players stars with significant earning potential is a key differentiator.

Ownership and Commitment

• 🤝 Shared ownership with men's teams offers economies of scale and efficiencies, provided the women's team receives independent and primary investment focus.
• 💡 New owners are expected to have a long-term, intergenerational view on capital, similar to other established sports leagues.
• 🚀 The NWSL ownership group is characterized by individuals excited to actively build the league, treating it like a startup with opportunities for significant input and strategic debate.

Career Advice and Leadership

• 🎯 The best advice for a career in business is to focus on what the other side needs for a win and to listen to their needs.
• 🧠 For aspiring professionals, the key is to focus on the work and the things within one's control, rather than distractions, drawing parallels to the Serenity Prayer.
• 🎤 Jessica Berman's advice for a career in sports leadership is to focus on the actual work and control what you can, saving energy and avoiding counterproductive distractions.