Business good for jump racing- 17 Nov 2008 00:00:00
Despite the current global economic downturn, organisations involved in staging jump racing events expect to deliver strong business results over the coming season.
A report to be published next week highlights the role innovation has played in increasing audiences and revenues, and the grassroots support for the sport among spectators, owners, trainers and sponsors.
In addition, investment in racecourse facilities over recent years, a wider choice of how enthusiasts can view the sport (at the racecourse, or on TV, radio or the Internet) and healthy competition among its new stars (particularly Denman and Kauto Star), is expected to help jump racing maintain audiences and revenues.
The sport’s financial success has been displayed at one of the first events of the winter season, The Showcase, held at Cheltenham, where attendances were up by more than 5 percent on last year, with 25,473 spectators over the two-day meet. Revenues generated by The Showcase also increased by more than 23 percent since 2007.
Jump racing’s sponsorship portfolio has also experience consistent growth, keeping the loyalty of high-profile brands like Guinness and John Smith’s as well as signing smaller businesses that back local racecourses. The larger audiences have reportedly brought new sponsors, improving commercial success and leading to higher prize money, improved bloodstock and keener competition among the runners, trainers, owners and jockeys.