The total NIL market is projected to reach an astronomical $1.67 billion in 2024-25, which is up from the $917 million in 2021-22 when college NIL was introduced.
According to Opendorse's annual report on the NIL market, early projections point to the total NIL market exceeding $2.5 billion in the first year of student-athlete revenue sharing (2025-26).
Market growth from the third year of NIL to the fourth year of NIL saw increased collective spending and a doubling of activity in the commercial market, headlined by the introduction of EA SPORTS™ College Football 25.
According to Opendorse, NIL collectives continue to shape over 80% of the total NIL market. Their activity plays a vital role in the recruitment and retention of student-athletes and is heavily weighted toward Football and Men’s Basketball. Commercial compensation now makes up less than 20% of the total market, with Women’s Basketball leapfrogging Men’s Basketball for the first time.
Technology brands led the way with 16.9% of the NIL market, followed closely by apparel and accessories (14.2%). Non-profits and charities accounted for third largest market segment at 9.9%.
Opendorse
