A new report by consultant McKinsey & Co. predicts that the horse racing industry "will see a significant decline within the next decade,” but The Jockey Club ”is doing its part to prevent that from happening,” according to Michael Cignoli of THE SARATOGIAN. During a roundtable conference Sunday, Jockey Club officials “announced that the organization has committed funding for implementing suggestions put forth by an economic study in an attempt to drive sustainable growth in the thoroughbred racing and breeding industries.” The report commissioned by The Jockey Club “highlighted some troubling trends in the racing industry,” and the “growth strategies recommended in the study range from increasing horse racing’s television exposure to creating a Facebook game.” The study found that horse racing is suffering due to “intense competition from other forms of gambling.” Additionally, just 22% of the public "has a positive impression of thoroughbred racing.” The study also found that only 46% of racing fans "would actually recommend the sport to others.” The “lack of television exposure horse racing gets also spells trouble for the industry.” For '11, “there are just” 43 scheduled hours of thoroughbred racing on national TV, while pro bowling has 92 scheduled hours. McKinsey & Co. officials said that there is a chance the fan interest numbers around the sport can “get even worse, as the sport is losing” 4% of its fan base every year. McKinsey & Co. Dir of Media & Entertainment Dan Singer: “These projections are sobering. They’re basically awful” (THE SARATOGIAN, 8/15). Singer said that 10 years ago, 9% of new racing fans said they discovered the sport on TV. Singer: “In contrast, virtually no recent fans that we surveyed identified television as the source of their interest in racing.” The report called for an industry-wide streamlining of racing. The Jockey Club’s campaign will cost $10M over five years (N.Y. TIMES, 8/15).
JOCKEYING FOR POSITION: The DAILY RACING FORM's Matt Hegarty reported the Jockey Club will “underwrite the production" of a national TV series on racing in ’12, but the series’ format is not yet determined. The organization is in talks with national networks on the deal, and the series could “range from recaps of major races to a reality-type racing show.” The Jockey Club is expected to “pay the cost of producing and broadcasting the series.” The Jockey Club also intends to launch and fund “an Internet site that will allow people to make cost-free wagers and a social networking game on racing.” McKinsey & Co. was retained last year to study the sport and issued a 100-page study that included nine recommendations (DRF.com, 8/14).
