Casting the Media Cord Nets NASCAR a Bigger Catch

As reported by Sports Business Journal, massive new media rights deals are turbocharging NASCAR’s revenue prospects. These contracts, including the recent CW deal, total an unprecedented $1.1B annually. This upward shift, a 40% surge from current agreements, is a monumental victory for the racing circuit, particularly in this constrained sports media rights market perturbed by cord-cutting and cord-shaving.

NASCAR executives remarked that the negotiations took more time than initially expected. However, NASCAR’s President Steve Phelps remained optimistic that these deals would fortify the racing circuit’s position amidst the flux in the media industry.

In light of the potential complexities that may arise when fans have to juggle between multiple channels and sites to follow races, NASCAR took a proactive step. They persuaded the media companies to cross-promote races, even those featured on different channels, thereby streamlining the viewer experience.

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