FanVision, maker of an in-venue entertainment device that splices in audio, video and stats from an event onto one hand-held screen, has extended its deal with NASCAR for four years. The company, which first signed on with the sanctioning body in ’12, will continue to provide its devices for all tracks that host NASCAR races through ‘19. Financial terms could not be attained for the deal, which was negotiated about a year and a half early. Fans can purchase the devices outright and keep them, or rent them for a given event. FanVision CEO Andrew Daines said that on a good weekend, the company will have up to 10,000 of its devices being used at the track. Daines said that his company elected to extend its deal because the company has begun to see significant sales from its involvement in NASCAR. The company began distributing its own products in ’14 after originally having them sold through a third party, and as a result, its sales were up 10% year over year from ’13. Daines added that now that the company has stability in NASCAR, it will begin to both add point-of-sale kiosks at tracks and also invest further in research and development for its racing-related products. Daines: “It generates a lot of revenue for our business and it’s a place where we really feel like it’s a product fit. When you have that kind of product/market fit, you just want to keep it going as long as you can.”
TEAM EFFORT: On top of its efforts with fans, FanVision also sells a Pro version to teams -- and the company has seen growth in this category as well. The Pro version has improved features in terms of what it can do for teams, and this notion combined with the fact that FanVision lowered its price for teams this year has led it to leap from just one team using the product to five. The company also has offerings that are used only in suites and boxes. Meanwhile, Daines said that FanVision had an exceptionally good few days at Texas Motor Speedway this past weekend, when the company was up in the double-digit realm for sales and set a sales record for that specific track. He attributed this success in part to the fact that the company brought out four kiosks and four trailers -- more than it has in recent years. He added, “We’re really doing everything we can to take whatever revenue we can and reinvest it in the sport.” Similar to its deal with NASCAR, FanVision also has a license with the PGA Tour -- the only other league or sanctioning body it currently has a deal with.
