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The Fast Company Impact Council is an invitation-only membership community of leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual dues for access to peer learning, thought leadership opportunities, events and more. In todays shifting political and economic climate, companies are reassessing their commitments to diversity, equity, and inclusion (DEI). Many are pulling back, and in the process, investments in womens sportsoften lumped into DEI initiativesare being questioned. But treating womens sports as merely a diversity play misses the mark. This isnt just about fairness; its about smart business and impactful marketing. If companies arent scaling back their investments in mens sports, why on earth would they waver on womens? The numbers tell a compelling story: Investing in womens sports delivers strong returns, unlocks valuable new markets, and fosters deep brand loyalty. Simply put, this is a high-growth business opportunity that brands cant afford to ignore. Audience growth and engagement: A market on fire Womens sports are experiencing a dramatic surge in audience engagement. This season, NCAA womens basketball games have drawn record-breaking TV viewership. In only its second season, the Professional Womens Hockey League (PWHL) has sold out arenas in multiple cities. Unrivaled, the player-founded 3×3 basketball league is attracting serious attention. New leagues in the next wave of sports like volleyball, rugby, and softball are gaining traction and attracting record audiences and investment, proving that the appetite for womens sports extends far beyond traditional powerhouses like soccer and basketball. Brands that once hesitated to invest in womens sports are now seeing undeniable evidence of their potential: Ad spending on womens sports doubled in 2024 alone. Viewership is only part of the story. Fans are showing up in record numbers. The National Womens Soccer league (NWSL) set an attendance record in 2024, crossing the 2 million attendee mark for the first time ever and enjoying a 44% increase over 2023, and WNBA teams are seeing unprecedented ticket demandwith new franchise the Golden State Valkyries securing 20,000 season ticket deposits months ahead of its inaugural season. Digital engagement is booming, with social media interactions around womens sports stars rivaling, and in some cases exceeding, those of their male counterparts. In other words, the audience is not just presenttheyre deeply engaged, captivated by the athletes, and hungry for more content. Brands that invest now will build meaningful connections with this fast-growing fan base. Numbers dont lie The financial case for investing in womens sports is equally compelling. Sponsorship dollars and media rights valuations are climbing, yet many assets remain undervalued. Brands that have made early, meaningful commitmentsNike, Ally Financial, Gainbridge, e.l.f. Beautyare already reaping the benefits. Theyre not just seeing strong returns; theyre earning consumer goodwill that translates to long-term brand affinity and loyalty. Previous Parity research has proven that women athletes hold significantly more sway than other public figures, making them a powerful marketing force. Case in point: Womens sports fans are 2.8 times more likely to buy a product or service recommended by a woman athlete than by any other kind of influencer. Despite rising values, womens sports still offer an incredible arbitrage opportunity. Consider this: a $20,000 sponsorship in womens sports can be life-changing for many professional female athletes, providing essential funding for training, travel, and career longevity. In contrast, that same investment in a major mens sport may not move the needle. For brands looking to maximize impact while optimizing their budgets, womens sports present a unique, high-value opportunity. A loyal and underserved fan base Fans of womens sports arent just passive observerstheyre highly engaged, deeply loyal, and eager to support brands that support their teams and athletes. Last fall, a brand sponsor I spoke with made the same promotional offer to fans at both an NWSL game and an NHL game, two leagues where they sponsor teams. Despite the men’s hockey game having higher attendance, the offer saw a 300% higher redemption rate at the women’s soccer match. Numerous studies show that womens sports fans have a higher propensity to recall and purchase from brands that invest in the space. Yet, compared to mens sports, the market remains significantly under-monetized. Talk about a missed opportunity. Brands that authentically commit to womens sports gain access to a passionate, growing audience that has been overlooked for too long. Companies that act now will build lasting loyalty among this engaged consumer base. Womens sports should be a core investment, not a side initiative Theres a fundamental question brands need to ask themselves: If they arent pulling back on mens sports, why should they pull back on womens? The truth is, sportswhether mens or womensdrive culture, commerce, and community. Investments in womens sports should not be framed as philanthropy or secondary initiatives; they are an essential and lucrative part of a brands sports marketing portfolio. History has shown that sports have the power to shape cultural narratives and influence consumer behavior. Womens sports are no exception. The brands that treat womens sports as core investments, rather than side projects, will see the benefits from increased visibility, consumer trust, and revenue. The risk of falling behind Brands that retreat from womens sports now risk losing their early-mover advantage. Momentum is building, and consumers are taking notice of which companies are committed for the long haul. In fact, 50% of U.S. adults believe brands arent investing enough in womens sports. Companies that scale back now may struggle to regain credibility with fans and athletes alike. Savvy brands recognize this moment as an inflection pointa chance to deepen, not reduce, their investment. Those that stay the course and work to balance historically male-dominated partnership portfolios will not only contribute to the continued growth of womens sports but will also solidify their position as industry leaders in a rapidly expanding and lucrative market. Leela Srinivasan is the CEO of Parity.
Category:
E-Commerce
The Fast Company Impact Council is an invitation-only membership community of leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual dues for access to peer learning, thought leadership opportunities, events and more. The way we work is changing. Artificial intelligence is rapidly transforming the workplace, automating tasks, creating new efficiencies, and helping us accomplish more across virtually all industries. In this environment, new hiring strategies based on evaluating a candidate’s full skillsetincluding their ability to problem-solve, think creatively, and adapt rather than solely relying on their college degreeare becoming essential for companies and organizations that want to find and retain the best talent. For the 62% of American workers who do not have university degrees, skills-based hiring strategies can offer the opportunity to build thriving careers in industries that traditionally had their doors closed. AI has the potential to democratize these opportunities, helping to dismantle barriers to employment to close the opportunity gap. The benefits of skills as a new currency of work Focusing on skills-based hiring benefits individuals, businesses, nonprofits, and society as a whole. Ive worked closely with many workforce development nonprofits, and its clear that when we have a narrow focus on college degrees, many skilled workers get left behind. Recent Workday research indicates that 51% of business leaders have significant concerns about a looming talent shortage. This research also shows that 81% of leaders believe skills-based strategies will give them a competitive advantage and will drive economic growth by improving productivity, innovation, and organizational agility. In fact, hiring for skills has been found to be five times more predictive of positive job performance than hiring for education, and two and a half times more predictive than hiring for past work experience. The role of AI in democratizing skills-based hiring AI will play a crucial role in helping organizations make this transition to a skills-driven workforce. There are many AI-powered platforms available that can support skills-based hiring and internal talent mobility by identifying strengths and assessing candidates based on their demonstrated abilities, ensuring a more equitable evaluation process. AI-powered skills assessments can level the playing field by focusing on demonstrated abilities rather than pedigree, and prioritizing skills over subjective evaluations within hiring teams. By removing unconscious bias in resume screening and candidate selection, AI can help ensure equal access to opportunities. AI can also analyze vast datasets and reveal hidden patterns of bias, identify skills gaps, and more. Once hiring managers and recruiters begin to widen their applicant criteria by using skills-based hiring methods, their businesses will benefit. For example, research shows that those who are hired on the basis of skills have, on average, a 9% longer tenure than traditional hires, saving companies money spent on turnover and backfilling. According to LinkedIn data, employers who hire based on skills are 60% more likely to find successful talent than those who do not. This is an area where AI can really be used for social good while simultaneously benefitting the hiring organization, as it can make a huge difference in how organizations find and retain talent in an efficient and effective way. The role of nonprofits Workforce development programs are at the forefront of the skills-first movement. These nonprofits play a vital role in equipping job seekers with the skills needed to thrive in todays tech-enabled economy and connecting them with employment opportunities. Theyre also leveraging AIs power to scale their efforts and reach more people in need. Opportunity@Work strives to increase awareness and opportunities for STARs, workers who are skilled through alternative routes, such as community colleges, short-term training programs, certifications, self-directed online learning, and previous work experience in different fields. They use an AI integration that improves skills matching for job seekers and managers alike, making results more relevant and less biased. Another nonprofit making AI strides is the Society for Human Resource Management, which is launching a Skills-First Center of Excellence, utilizing an AI-based skills advisor. AI can be a powerful tool for personalizing learning experiences, identifying skills gaps, and swiftly connecting workers to the right job opportunities. AI can help cultivate human potential While technical skills like digital fluency are important, new Workday research also shows that the uniquely human skills of relationship building, empathy, conflict resolution, and ethical decision making are all critical for success, especially in an AI-driven economy. AI is now empowering us to recognize and cultivate human potential in ways never before imagined. By championing skills-based hiring, we’re not just filling job openings; we’re unlocking pathways to fulfilling careers and building a more prosperous future for all. Let’s harness the power of AI to help foster innovation and build a world where every person and business has the chance to thrive. Carrie Varoquiers is the chief philanthropy officer at Workday.
Category:
E-Commerce
According to the Center for Biological Diversity, climate change is projected to cause the extinction of over a third of the species of plants and animals in the world in 25 years. But scientists at genetics laboratory Colossal Biosciences are claiming they may have a solutionone they say has resulted in the birth of the first dire wolves in over 10,000 years. Colossals website proclaims the lab to be the worlds only company working on de-extinction, which it defines as the process of generating an organism that both resembles and is genetically similar to an extinct species by resurrecting its lost lineage of core genes; engineering natural resistances; and enhancing adaptability that will allow it to thrive in todays environment of climate change, dwindling resources, disease and human interference. Breakthroughs have seemed promising so far. In March, it introduced the world to the first ever woolly mice, a stepping stone to the larger goal of eventually bringing back the woolly mammoth. Now, Colossal has announced that it’s brought back the dire wolf. Male dire wolf pups Romulus and Remus were born six months ago, followed by female pup Khaleesi three months later. A statement from Colossal CEO Ben Lamm explained that scientists at Colossal began the process of reconstructing the species by analyzing the DNA from a 13,000 year old tooth and a 72,000 year old skull. Comparing the dire wolf DNA to the DNA of its cousin, the grey wolf, the scientists pinpointed 20 differences in 14 genes that caused what they determined to be the most distinguishing features. And by manipulating DNA in the nuclei of endothelial progenitor cells (EPCs) from grey wolves using CRISPR technology, they could cause the pups to express traits such as a white coat or a larger and stronger body, or change the sound of their howl. The scientists then extracted the edited nuclei and inserted them into denucleated grey wolf egg cells. Those egg cells were then placed in the wombs of a couple of dogs, eventually leading to the births of Romulus, Remus, and later, Khaleesi. At six months old, Romulus and Remus are already four feet long and 80 lbs and have the potential to reach six feet long and 150 lbs. That is around 50 lbs heavier than the average male grey wolf. All three pups are a bright, snowy white. Romulus and Remus at age one month. [Photo: Colossal] But while the pups certainly look the part, many are skeptical about whether the dire wolf has actually been resurrected. A research paper on the lineage of dire wolves published in the leading science journal Nature states that dire wolves were a highly divergent lineage that split from living canids around 5.7 million years ago. In other words, the last common ancestor between grey wolves and dire wolves lived around 5.7 million years ago. To put that in context, humans were thought to have evolved only around 315,000 years ago. In fact, the researchers found that grey wolves were more genetically similar to African wild dogs than they were to dire wolves. The paper mentions that one hypothesis for why the two species seem to have similar features is not based on actual genetic similarity, but convergent evolution, a process where species that are not closely related to each other evolve similar traits to respond to similar ecological pressures. This is the same reason why sharks, a type of fish, and dolphins, which are mammals, evolved to have similar body shapes. Beth Shapiro, chief scientific officer at Colossal, said in an interview with NewScientist that grey wolves and dire wolves share 99.5% of their DNA. However, in the context of the grey wolf genome having over 2.4 billion base pairs, that 0.5% difference actually suggests a difference of over 12 million base pairs. Can Colossal really argue, then, that it brought back the dire wolf species with only 20 modifications? In fact, Shapiro argued, how we define species is quite arbitrary. Species concepts are human classification systems, and everybody can disagree and everyone can be right . . . We are using the morphological species concept and saying, ‘if they look like this animal, then they are the animal.'”
Category:
E-Commerce
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