March Madness is back, and much like last year, women’s basketball is taking centerstage for advertisers. 

In 2024, the NCAA women’s basketball championship game between Iowa and South Carolina drew 18.9 million viewers — surpassing the men’s championship viewership for the first time and making it the most-watched women’s basketball game of all time. 

The record viewership numbers, driven in part by the popularity of then-Iowa Hawkeyes star Caitlin Clark, got the attention of advertisers who upped their investments in women’s sports. 

Last year, advertisers spent more than $244 million running TV ads across various women’s sporting events — a 139% year-over-year increase, according to TV measurement company EDO. 

Advertisers are also seeing a return on these investments. EDO reported that the average women’s sporting event generated 40% more engagement than the average ad on primetime TV. 

Engagement during women’s basketball also yielded strong results as ads aired during the 2024 WNBA playoffs were 24% more effective than the average primetime ad, while women’s NCAA tournament ads were 18% more effective. 

ESPN’s audiences for women’s college basketball this regular season grew 3% year-over-year to 280,000 viewers per game, with more than 15 games topping 500,000 viewers.

Data from iSpot.tv found that pharma ad impressions on ESPN grew by 59% year-over-year in December, driven in part by the expanding reach of women’s college basketball.

Going forward, viewership and engagement in women’s basketball is expected to grow significantly. Deloitte projected that women’s basketball will generate more than $1 billion of revenue in 2025 alone, leaping ahead of women’s soccer. 

Medical marketers sense the momentum behind women’s sports, with women’s college basketball leading the charge.

Cassandra Sinclair, president of VCCP Health, noted that since women’s basketball is still a fairly new marketing opportunity for brands, advertisers can experiment with ways of reaching target audiences. 

“Advertisers can take a little more of a risk and get creative with these ads,” she said.

Pharma ads for women’s sports fans

As it relates to healthcare, she suggested pharma marketers lean into testing innovative ideas and centering women’s health issues around star athletes.

Two campaigns stick out to her: Always’ #LikeAGirl campaign, which launched in 2014, and Nike’s So Win campaign, which was featured at Super Bowl LIX. 

She said both campaigns feature powerful women who aim to break down gender stereotypes.

“It’s all around empowerment,” Sinclair said. “It’s around the concept of being a strong, singular individual.” 

Sinclair added that pharma marketers should hone in on the wellness factor of athletics, which was a prominent throughline for brands that advertised at the 2024 Summer Olympics in Paris. 

Wellness and sports work well together, she said, noting that this helps propel athletes to reach new heights in their respective sport. 

Pharma dips its toes

Some pharma brands have already dabbled into the world of advertising during women’s sports broadcasts.

Last year, pharma was the second-biggest spender in women’s sports behind automotive brands — accounting for 11% of the total spend at $26.2 million, per EDO. AbbVie’s Skyrizi led the way among pharma brands on the list. 

Beyond ads, there is also an opportunity for pharma brands to create long-term partnerships with women’s sports brands. Eli Lilly did so by partnering with the Indiana Fever after they drafted Clark in the 2024 WNBA Draft. 

Melanie Lysaght, director of innovation at CMI Media Group, noted that women’s sports representatives are always looking for sponsors but are more interested in partners. 

“It’s just a different tonality when you get on the phone with a women’s sports brand, because they want a long-term partner,” she said. “They want a partner that’s going to be for not just the season — they want you with them for your growth.”

She attributed part of this approach to the fact that women athletes are still compensated far less than their male counterparts. 

When Clark was drafted to the WNBA last year, she signed a contract that would pay her $338,056 over the next four years. This is a fraction of 2024 NBA #1 draft pick Zaccharie Risacher’s $57 million salary over the same period. 

Additionally, in many cases women’s sports teams lack access to sufficient healthcare services, added Kelly Morrison, group SVP of engagement strategy at CMI.

“It’s a huge market for pharma marketers and companies to tap into,” she said.

Lysaght added that by partnering with a women’s sports brand, drugmakers can sponsor people to “do what they do best — which is being athletes.” 

For those pharma brands looking to get into opportunities related to women’s sports, especially basketball, they are encouraged to do it sooner than later. 

“It’s not a cheap sport anymore,” said Lysaght. “Advertising now, especially for basketball and March Madness, comes in bundles. They are just going to get more expensive as they become more popular.”