The Racecourse Media Group Ups Its Revenue to £117M for 2022
LISTEN TO THIS ARTICLE:The Racecourse Media Group (RMG), a collective of racecourses in the United Kingdom (UK), has announced that the group has generated over £117 million for its members through its range of activities. This figure is up from £110 million for the media rights in 2021.
RMG is made up of 35 racecourses situated in the UK, including Aintree, Epsom, and Cheltenham, with these courses hosting a mixture of both flat and jumps horseracing. Most of the prominent races and meetings in the British racing calendar are held at these tracks, including the Derby, the Grand National, and the Cheltenham Festival.
The purpose of the RMG is to give these racecourses a single voice when it comes to televising race meetings and other racing-associated commercial activities. The races from these racecourses are shown on the digital Racing TV channel and the Racing International TV channel.
The report highlighted the advancement of real-time race data that the organization now provides with its Coursetrack product. Currently, it has deals with leading bookmakers BetVictor and William Hill and hopes to increase this offering to other gaming operators in the future.
Another development going forward is the planned introduction of its racing product for the Self-Service Betting Terminal (SSBT). These machines are very popular with punters, and the ability to place wagers on race meetings should lead to greater revenue for bookmakers.
There has also been an increase in the social media audience across all digital platforms, and RMG has more than 20 million views of its racing content.
RMG also states it has embraced the virtual studio offering and has recognized that this has the potential to be a big growth area for its horse racing services. It hopes to bring virtual horseracing to levels similar to that enjoyed by the sports of football and cricket.
We believe that innovation is key for the business and racecourses to help grow appeal and engagement with the sport and provide a platform to deliver growth in licence fees to racecourses and the sport in the future. A fundamental building block in technical innovation for the business is the deployment of a highly reliable and accurate tracking system, which we have achieved via the award-winning Coursetrack.
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