Menu
Finance

SMI Sees Slight Revenue Drop In Q2 But Growth In Track Rentals, Suite Revenue

Speedway Motorsports Inc. blamed bad weather at two races and a weak economy for a slight decline in revenue during Q2. The company reported revenue for the quarter of $175.9M, down from $176.8M for the same period last year. Revenue for the first half of the year was $260.4M, down from $261M in '13. SMI COO Marcus Smith said that the company has seen increases in track rentals and suite, hospitality and camping revenue, but those gains were offset by "poor weather," which affected NASCAR race weekends at Texas Motor Speedway and Bristol Motor Speedway. Ticket revenue for Q2 was $31.1M, down from $34.2M for the same period last year. Event-related revenue, which includes sponsorship and hospitality sales, was $52.9M, down from $53.5M. The only increase in revenue SMI saw was for broadcast revenue, which is contractually guaranteed to increase. Broadcast revenue for the quarter was $84M, up from $80.7M for the same period last year. Expenses for the period totaled $133.3M. 

SBJ Morning Buzzcast: April 25, 2024

Motor City's big weekend; Kevin Warren's big bet; Bill Belichick's big makeover and the WNBA's big week continues

TNT’s Stan Van Gundy, ESPN’s Tim Reed, NBA Playoffs and NFL Draft

On this week’s pod, SBJ’s Austin Karp has two Big Get interviews. The first is with TNT’s Stan Van Gundy as he breaks down the NBA Playoffs from the booth. Later in the show, we hear from ESPN’s VP of Programming and Acquisitions Tim Reed as the NFL Draft gets set to kick off on Thursday night in Motown. SBJ’s Tom Friend also joins the show to share his insights into NBA viewership trends.

SBJ I Factor: Molly Mazzolini

SBJ I Factor features an interview with Molly Mazzolini. Elevate's Senior Operating Advisor – Design + Strategic Alliances chats with SBJ’s Ross Nethery about the power of taking chances. Mazzolini is a member of the SBJ Game Changers Class of 2016. She shares stories of her career including co-founding sports design consultancy Infinite Scale career journey and how a chance encounter while working at a stationery store launched her career in the sports industry. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2014/07/30/Finance/SMI.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2014/07/30/Finance/SMI.aspx

CLOSE