There are few better built-in guarantees of commercial success than an anniversary, and though this year’s Daytona 500 might not fit the technical definition of such an event, organizers were able to attach a good round number to it and are reaping the benefits.
The first Daytona 500 was held in 1959, meaning that if it were tallied like most anniversaries, the 50th wouldn’t come until 2009. Instead, what we have this year is the 50th running of the race, and that’s certainly reason enough to sell and to celebrate.
As detailed in staff writer Michael Smith’s story on the event, which begins on page 17, marketers have been planning for nearly three years for the 2008 race, and by just about any measure they seem to have been successful. Grandstand tickets were sold out by early January, compared with last year’s race, which didn’t sell out until the night before the race.
More than 40 sponsors have signed promotional deals for the race, and they’ll not only be marketing around the event, but many will be providing hospitality that will be lavish and expensive. As Smith details in his story, which leads our In-Depth report on motorsports, almost anything is available to sponsors willing to pay the price, from $480-per-week golf cart rentals to $100 liters of whiskey.
At least for this week, the racing world can forget all the doom-and-gloom we’ve been hearing from the economy and instead revel in spending and partying. The only question now is whether the TV ratings will match up to the rest of the event.
Also in this week’s In-Depth, we look at five major issues to watch during this year’s NASCAR season.
Among the most intriguing: What effect will changing teams have on Dale Earnhardt Jr., the most popular driver in the sport. And can NASCAR regain its ratings mojo?
It’s a given that Junior’s fans will follow him from the 8 car to the 88 car. What we don’t know, but will have fun finding out, is how Earnhardt will react to the change. While he may still be the biggest name in his garage, he may not be the most talented driver, and he certainly won’t have the best record. As we note on page 26, now that he’ll be parking next to four-time champion Jeff Gordon and two-time defending champ Jimmie Johnson, Earnhardt needs to become a big winner fast.
If he does, or even if he just comes close, that will certainly go a long way toward answering the second question. While ratings have fallen the last two years, and the sport has definitely seen its growth rate slow, a big season from Earnhardt could be the medicine that helps turn things around.
