NASCAR’s Business Model Hits the Wall
… business model.
“We’re trying to do more with less. That’s the difficult part of this economy,” France said following his state-of-the-sport address to media at NASCAR’s Research and Development Center. Just back in December, NASCAR issued a statement stating that NASCAR heading into 2009 was “strong”.
This outlook is a rather quick reversal, but perhaps the gravity of the current economic climate and mass sponsor deflections is making an impact.
Doing more with less? …
Is NASCAR Preparing for Their Post Automaker Future?
… Is this an omission from NASCAR that they lack a value proposition? Regardless of the poor economy or slump in automotive sales – if NASCAR sponsorship has a positive ROI, automakers would not be consider jumping ship. The reality is simply the ROI for the automakers are far below most other mediums and NASCAR may finally be getting the message. But unfortunately, it may be too late for NASCAR to adjust and to keep the financial support of the Big 3 and Toyota, but surely it’s …
NASCAR’s Statements Require a Willing Suspension of Disbelief
… bridge loan from the Troubled Assets Relief Program (TARP). Without the Big 3 – the NASCAR economy will rapidly contract and a large percentage of teams will be added to list of defunct organizations. And with that – NASCAR thinks the sport is “strong” – but in reality – teams are dissolving faster than Kyle Busch racked up victories in the beginning of 2009; and without competitive teams – NASCAR is heading for a death spiral.
Without sweeping changes to the fundamental …
Tags: NASCAR NASCAR Economy TARP Willing Suspension of Disbelief
Need More Clarification? – NASCAR in Crisis
… the problems were not created overnight and may require the governing body to stimulate the NASCAR economy. But NASCAR needs far more sweeping changes than just the teams receiving a larger share of the television revenues. A variety of topics that must be addressed include; dramatic cost savings for the teams, incentives which drive fan interest – larger focus on winning -- less on consistency, and greater shares in revenues so teams can sell sponsorship packages for considerably less -- …
NASCAR for Sale – Is “Change” Coming?
… back on the track for growth. As discussed in my most recent blog entry, The Failing NASCAR Economy: A Time for Action! - NASCAR must act to bring forth changes to support its lifeblood – the race teams. A Smith regime would only continue the same old policies of providing the race tracks a disproportionate share of the television revenues as compared to the racing teams. These policies need to change – NASCAR Sprint Cup Teams must receive a greater portion of the television …
The Failing NASCAR Economy: A Time for Action!
… to sacrifice some of their short term earnings for long term stability and growth in the NASCAR economy.
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Tags: AT&T Bang Racing Dale Earnhardt Sr economy France Family ISC Jack Roush NASCAR Nextel Richard Childress Racing Rick Hendrick Roger Penske Sprint Toyota
NASCAR Must Embrace New Media: Proposal Attached
… generated significant profits in the past decade. However, moving forward in the dynamic digital economy and facing the challenges to continue to grow their audience and fan base, NASCAR must now look to tap into emerging technologies and unlock entrepreneurial ingenuity to develop innovative business models to increase fan exposure and create new revenue sources.
The first initiative I believe NASCAR should pursue is to open up access to the racing data acquired through the on-board …
NASCAR Competition Cautions – an Oxymoron
… moving forward.
Without a doubt this was the most pathetic race I have ever seen; and with the economy in turmoil, this may be the straw that breaks many NASCAR Racing Teams’ backs.
The only redeeming result of the miserable race on Sunday – was NASCAR finally accepted responsibility for the actions or lack thereof. Earlier this week, Robin Pemberton Vice President of Competition of NASCAR released the following statement:
I can’t say enough how sorry we are and it’s our …
NASCAR 2.0 – Online Advertising Soaring
… the largest market opportunity to generate significant value that can be monetized in the digital economy.
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NASCAR Sponsorship 2.0
… also a dying breed. As our country continues to face high inflation and a challenging economy for the middle-class, which is the loyal mainstay of the NASCAR demographic; it will become a less attractive marketing medium to corporate marketers.
Across the country, many businesses are attempting to adapt to this challenging economic market. Over the past number of months, the newspaper industry has announced wide scale layoffs as they attempt to transition their business to more …
Atlanta Journal-Constitution Bang Racing Digital Media eBay Hendrick Motorsports Joe Gibbs Racing Michael Waltrip NASCAR NASCAR Corp NASCAR Corporate NASCAR Sponsorship NASCAR Sponsorship 2.0 New Media Old Media RaceWorld Roush Fenway Racing Sports Toyota Motorsports Web 2.0 YouTube
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Update: GM Cutting Back on NASCAR Spending
… president of communications for SMI, said nobody is panicking.
We’ve seen bad times with the economy before, and we’ll likely see them again, Cooper said Wednesday. At the end of the day, we’ve still got a sport that pairs up well with the American car manufacturers. We believe the sport will continue to have tight relations with those manufacturers.
Read the whole article at ap.google.com
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The Nationwide Series Will Live Another Day – COT on Hold
NASCAR officials have notified team owners in the Nationwide Series that they will delay the introduction of the Car of Tomorrow (COT) in the Nationwide Series by at least one year. According to Ramsey Poston, Managing Director of Communications at NASCAR, the reason for the change is because “testing and development” is still needed before the car is approved for competition.
While that …
Tags: COT Dale Earnhardt Jr. economy NASCAR Nationwide Series
The Reality of an IndyCar Champion
… racing, mass inflation in an already expensive business and serious downward pressure on the U.S. economy – specifically corporate advertising budgets. This is a wicked mixture for more future shakeups in the financially changed business model of team ownership in NASCAR.
The only question in my mind is when will there be a similar announcement from the Yates Racing organization. I can’t image that the Ford Motor Company will continue to fund the operations of a sponsor-less team; …
Tags: Dario Franchitti Dodge economy IndyCar NASCAR Sponsorship
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