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ISC Says Investment In Motorsports Authentics Has Lost All Value
Published January 28, 2010
RUNNING ON EMPTY: In ISC's earnings report this morning, the company said admissions revenue for '09 was $195.5M, down from $236.1M in '08. The only change in the number of events was one fewer IRL race. Total attendance for ISC's 21 NASCAR Sprint Cup races and other events was 3.1 million, down from 3.7 million in '08. Further dips are expected in '10, as ISC projects admissions revenue to drop year over year in the mid-to-high single digits. Sponsorship revenue is expected to be down in the mid-single digits and hospitality will be down in the high single digits to the low teens. Four Sprint Cup races and three Nationwide Series races in '10 remain without a title sponsor, which is consistent with last year. ISC's total revenue is projected to be down in the low single digits. Still, ISC reports encouraging signs from the corporate sales front, citing recently signed deals with UAW, Valvoline, HP Hood and Hershey's Milk.