The world’s highest-paid female athletes have made a name for themselves in their respective sports, but most of the women make more money from endorsements than they do competing.

The top 10 accounted for a combined $167 million in pretax earnings according to Forbes, a 23% increase compared to 2020. Tennis star Naomi Osaka topped the list at $57.3 million, with just $2.3 million of that coming from prize money.

The rest of the top five saw similar discrepancies. 

• 2. Serena Williams, tennis: $45.9M ($900K on the field)
• 3. Venus Williams, tennis: $11.3M ($300K)
• 4. Simone Biles, gymnastics: $10.1M ($100K)
• 5. Garbiñe Muguruza, tennis: $8.8M ($2.8M)

Golfer Jin Young Ko, badminton player P.V. Sindhu, tennis player Ashleigh Barty, golfer Nelly Korda, and WNBA star Candace Parker round out the list. Barty was the only one to make more from prize money than endorsements — $3.9 million on the field and $3 million off.

New Trends

In 2019, all top-10 spots were taken by tennis. Now, it accounts for just five spots.

This year, Biles and Candace Parker became the first gymnast and basketball player to rank in the top 10 in more than a decade.

Tell us what you think: With the increasing popularity of women’s sports, do you believe their salaries will eventually catch up to men’s? Reply to this newsletter with your thoughts.

The NFL’s Tennessee Titans are planning upgrades at Nissan Stadium in Nashville that could cost up to $600 million and include a redesigned stadium and new entertainment district.

Nissan Stadium was scheduled to undergo several maintenance projects in recent years, but a budget deficit and the global pandemic put plans on hold. Now, a deal for a redesigned stadium and district that doesn’t solely rely on taxpayer dollars appears to be on the way.

“I think if either the city or the Titans were pushing for something more basic, we would’ve been done with this a long time ago,” team president Burke Nihill told The Tennessean. 

The effort adds to a growing list of new NFL complexes.

• Last November, the Los Angeles Chargers reached an agreement to build a new 14-acre headquarters and training facility complex in El Segundo, California.
• The Carolina Panthers have broken ground on a new 600-square-foot headquarters and training facility projected to cost roughly $800 million.
• Last September, the Chicago Bears signed a $197.2 million purchase agreement for the Arlington International Racecourse property as a potential site for a new stadium.

Financial Planning

Early financial plans for the Titans’ development include $300 million in bonds from Metro Sports Authority, the stadium’s landlord, and an additional $300 million collectively from the team and private investors.

Since its November 2020 release, PlayStation 5 consoles have been extremely difficult to find, but Sony has a (widely-criticized) answer: continuing production of its PlayStation 4.

Sony planned to discontinue production of the PS4 at the end of 2021, but limited availability of the PS5 due to supply chain constraints and the semiconductor shortage has forced the Tokyo-based company to change course.

• The PS5 has sold 13.4 million units globally since its release, making it the fastest-selling console in Sony’s history, despite the shortage.
• Sony lowered its full-year production forecast for the PS5 to 15 million units by March 2022, down from 16 million.
• The company previously had a target of 22.6 million PS5 units sold in the next fiscal year.

Rival Takes Different Approach

Microsoft is no longer manufacturing any versions of the Xbox One to focus on the production of its Xbox Series X|S consoles, which also hit the market in November 2020.

The Washington state-based company doesn’t disclose exact hardware sales figures but estimates suggest that over 12 million Xbox Series X|S consoles have been sold.

On Monday, Head of Xbox Phil Spencer told The New York Times the consoles were Microsoft’s fastest-selling ever.

Garmin’s 2021 connected fitness report has provided insight into how consumers have stayed active amid a global pandemic.

From data collected through smartwatches, Garmin saw the number of indoor activities logged by its users double year-over-year. The Kansas-based company also reported a 9.5% uptick in outdoor activities in 2021 compared to the year prior.

Standout year-over-year growth for specific activities:

• Pilates: +108.3%
• Breathwork: +82.7%
• Gravel cycling: +49.5%
• Yoga: +45.4%
• Winter sports: +37.1%

Consumers in North America participated in 34% more yoga activities and 28.5% more on bikes, while Eastern Europe saw an 85% uptick in yoga and a 66% increase in cycling.

South America reported a 125% spike in breathwork activities and an 87% increase in cycling.

Hot and Cold

Garmin posted $1.19 billion in revenue in Q3 2021, a 7% increase year-over-year. The performance was driven by the company’s fitness segment, which generated $342.3 million in revenue during the quarter, up 4% compared to the same quarter a year earlier.

However, operating income was $283 million in Q3, an 11% decline compared to Q3 2020.

Garmin projects full-year revenue to reach roughly $4.9 billion, with growth in all segments.