Fox' NASCAR Ad Revenue Reportedly Down As Sponsors Pull Back
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Fox Reportedly Charging Lower Ad Rates For
This Year's Daytona 500 Compared To '08 |
Fox' NASCAR ad revenue projections for Q1 and Q2 are about 25% behind last season, according to sources cited by Smith & Ourand of SPORTSBUSINESS JOURNAL. A Fox source said that the net for its coverage of the Daytona 500 on February 15 is "holding the line on the $550,000 rate it charged for 30-second spots in last year's" race. However, other sources indicated that the rates are "sharply less" and range from $350,000-450,000. One ad buyer said that the higher rates "include additional units in the prerace and postrace shows." Many of NASCAR's "traditional sponsors, such as Sprint, Budweiser, UPS, Craftsman and the automakers are on board for the Daytona 500." However, sources indicated that spending for the rest of Fox' 13-race Sprint Cup Series schedule, which runs through May, is "expected to be down." Sources said that the other Cup races are selling from $75,000-125,000 per 30-second spot, "down slightly from last year." DirecTV officials said that the company will spend "significantly less" this season, while The Home Depot's "advertising plans remain uncertain." One sales exec said, "The big categories that support the sport -- clearly the automotives -- are affecting every part of the advertising business." But Smith & Ourand note "not all NASCAR advertisers are cutting back." Craftsman is "going deeper with a media spend on ESPN and Fox to reach a broader audience than it found" as title sponsor of NASCAR's truck series. UPS also "plans to increase its spending as it introduces a new relationship with driver David Ragan" (SPORTSBUSINESS JOURNAL, 2/2 issue).
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