After wrapping up its first season earlier this year, Unrivaled is already making big moves for Year 2.
On Monday, the nascent 3-on-3 women’s basketball league announced the results of its latest round of investments. Per a report by Kendra Andrews of ESPN, Unrivaled closed its Series B investment round with a valuation of $340 million. The venture, which is partly owned by Warner Bros. Discovery, raised $35 million in funding before its inaugural season.
Unrivaled averaged 221,000 viewers per game in its first season, airing across TNT and truTV. And while that viewership is relatively modest compared to other new-age made-for-TV sports leagues like TGL, which averaged 513,000 viewers per match on ESPN, or the sport’s flagship league, the WNBA, which has regularly attracted seven-figure audiences since Caitlin Clark’s debut in 2024, Unrivaled is still reportedly ahead of schedule from a financial standpoint.
According to ESPN, the league’s five-year roadmap has been revised to a three-year roadmap, as Unrivaled exceeded its revenue expectations in Year 1. The league generated $30 million in revenue last season, double what league officials projected. Unrivaled “nearly broke even” last year, and is projected to turn a profit in Year 2. Most of that revenue was generated from its media rights agreement with TNT Sports and sponsorship deals with brands like Sephora and Ally.
Investors clearly believe in the long-term growth of the league based on its new valuation.
About Drew Lerner
Drew Lerner is a staff writer for Awful Announcing and an aspiring cable subscriber. He previously covered sports media for Sports Media Watch. Future beat writer for the Oasis reunion tour.