The licensing industry made several big plays in the world of sports this year, expanding into new categories and appealing to new demographics. As the industry makes plans for 2024, we’re taking a look back at some of the most significant sports stories from the past 12 months.

The New MVPs
Several sports made major strides in licensing in 2023, including Formula One, NASCAR, Rugby, and Pickleball. NASCAR merchandise expanded its presence to dozens of new retailers and landed deals with the likes of LEGO and Hurley. World Rugby is now represented by IMG and rebranding the Rugby World Cup to reflect its men’s and women’s properties under a single logo with equal billing for all players. And the value of New Zealand’s All Blacks team brand has risen 72% since 2019, reaching $282 million. Pickleball, meanwhile, saw a number of new collaborations launch with as much focus on marketing efforts as retail sales, which saw the sport’s audience continue to grow.

Women’s Sports Score
The U.S. Women’s National Soccer Team (USWNT), which is represented by OneTeam Partners, announced it expects to double its royalty payments in 2023 compared to 2019. The team fielded co-branded products with the soccer federation this year and its roster of licensees grew to include 38 companies. Even more licensing deals are expected in 2024 as audiences for women’s sports continue to grow.

According to research from Nielsen, viewership for the 2023 NCAA tournament increased 103% from 2022 while interest in the Women’s Super League grew 81% compared to the year before. And new firms are cropping up in response, including Deep Blue Sports + Entertainment. The firm provides agency services including platform development, brand strategy, media investment, and analytics, with an aim to become the agency of record in women’s sports.

Betting Big
Online sports betting went all in this year. Penn Gaming and ESPN inked a 10-year, $1.5-billion licensing agreement to create the sportsbook ESPN BET with a goal of achieving a 20% share of the U.S. online sports betting market by 2027. And a number of companies, including DraftKings and Barstool Sports, focused on burnishing their own brands through consumer products programs. These types of deals are only expected to expand in 2024, as Vantage Market Research projects that the global sports betting market will increase 9.5% annually through 2030 to reach $167 billion.

The New NIL Playbook
Due to transfer portals and relatively short collegiate careers, many student athletes stepped away from licensed merchandise and instead inked Name, Image, and Likeness (NIL) deals that focused on autograph signings, social media posts, and appearance fees. In fact, it’s estimated college athletes’ endorsement deals represent close to 90% of the NIL business. There was movement on NIL deals for merchandise in 2023, however, with an emphasis on limited quantities or print-on-demand offerings to lower the associated risk. The Los Angeles Dodgers, for example, partnered with licensee Da Bobbleheads to host a giveaway of 40,000 Dodgers- and USC-branded Caleb Williams bobbleheads. Moving forward, a category that’s expected to be a major money-maker for NIL in 2024 is video games as companies like Electronic Arts work to ink agreements with college athletes for new titles.