NASCAR Needs a Chief Digital Officer
I believe it’s time for NASCAR to hire a Chief Digital Officer to lead the development and implementation of a marketing strategy and business model to engage fans across digital platforms. And equally as important, work in concert with broadcast partners, corporate sponsors, teams, drivers and digital media entrepreneurs to maximize the potential of the digital medium.
Getting NASCAR Out of Reverse: Digital Strategy
NASCAR has the potential to unlock opportunities to revive the financial outlook of the sport. But it must begin with reacquiring all the digital rights that have been irresponsibly divided and parsed between Turner Sports and Sprint. NASCAR needs to stop licensing and giving up rights for short term financial gains of the sanctioning body and recognize that the digital channel may be the last and best hope for teams to survive. This begins with a cohesive digital strategy that works across all broadcast partners – instead of isolating TNN (Turner) from Fox, ESPN, and NBC. If NASCAR.com is going to offer a live simulcast of races during TNN broadcasted races, which I support, NASCAR needs to find an acceptable business model to extend this platform to all broadcast partners.
NASCAR in the Next Decade: The Storylines that will Shape the Future
It is not possible to predict the road NASCAR will travel by the time we reach the final 2019 checkered flag, but it will be entertaining to speculate. This decade begins as NASCAR tail spins in the wrong direction it’s a sharp contrast to the beginning of the last decade when NASCAR viewership, attendance and corporate interest were all surging. Today, all of those trends are in reverse, and this decade will truly define whether NASCAR remains as a mainstream sport or becomes another fledgling motorsport series.
End of an Era: NASCAR Scene Ceases?
2009 was a dreadful year for the print publications and it appears a mainstay in the NASCAR industry is also on the brink. It’s no secret that after the boom years of NASCAR earlier this decade, advertisers and sponsors have left the sport in droves – but until now the primary victims were racing teams. But on Monday, this time it was NASCAR Scene and its website, Scene Daily.
NASCAR Teams – Take a Stand!
Everyone is aware that a severe sponsor recession is hitting the NASCAR industry. But many are blaming the broader economic crisis as opposed to examining the dreadful trends eroding the NASCAR value proposition. NASCAR is facing a steady drop in television viewership, race attendance and overall fan interest, and the costs to operate a Sprint Cup team has almost tripled since 2002.
NASCAR in Peril: Victory for Jeremy Mayfield in Drug Testing Legal Battle
But the greater dilemma that NASCAR faces is how to proceed with the ongoing Jeremy Mayfield legal battle. After NASCAR spokesman, Ramsey Poston, made accusations that Mayfield tested positive for methamphetamines, NASCAR would face a significant credibility challenge if they decided to settle the continued legal actions of Mayfield to circumvent continued discovery and future hearings/trials. However, on the flipside, the continued legal battle (Permanent Injection Hearing and Possible Civil Trial for Financial Damages) could expose very damning evidence for NASCAR and other competitors.
Danica Patrick to NASCAR…Hendrick Motorsports?
Rumors are running rampant that Danica Patrick is going to jump from IndyCar to NASCAR. Is this a negotiating tactic with Andretti Green Racing and Chip Ganassi Racing? Or is she seriously considering a move to stock car racing. One must wonder why the poster child of IndyCar Racing would take the risk and make a move to NASCAR, which undisputedly, is crumbling as I speak. I can image NASCAR dangling HUGE financial incentives and prepackage endorsements, but why take the risk?
The Death Spiral Continues….NASCAR on Fox
According to Sports Media Watch, FOX has its lowest rated NASCAR season ever.
A year of declines has concluded with FOX drawing its lowest average rating for NASCAR since the net began airing races in ’01.
Excluding the rain delayed Coca Cola 600, 12 NASCAR races averaged a 5.1/11 rating and 8.5 million viewers on FOX during the 2009 season, down 11% in ratings and 9% in viewers from a 5.7/12 and 9.3 million last year, and the lowest rated season ever for NASCAR on FOX.
Chrysler Bankruptcy: The Future of NASCAR Teams Hang in the Balance
Questioning the future of Dodge’s continuing involvement in NASCAR is nothing new – back in September 2008, I wrote about the pending withdrawal of Dodge from NASCAR and unfortunately this appears to be the plan for 2010.
NASCAR’s Business Model Hits the Wall
The Associated Press (AP) has reported Brian France, CEO of NASCAR, has directed his management to work with teams in developing new business models that can help them withstand the current economic crisis. As we are all aware, NASCAR teams rely on corporate sponsorship to fund the majority of their operating budgets, which is substantially [...]
Is NASCAR Preparing for Their Post Automaker Future?
Sources are telling me that instead of focusing on reinventing themselves, NASCAR is anticipating a future without automotive sponsors. 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 [...]
NASCAR’s Statements Require a Willing Suspension of Disbelief
RE: NASCAR Says: Sport looks strong heading into 2009 Quoting the former Presidential Candidate and Senator Hillary Clinton, NASCAR statements on Friday truly requires a “willing suspension of disbelief” if they want us to think the “sport looks strong heading into 2009.” Nothing could be further from the truth and it pains me to see [...]
Ad Sponsors Peeling Away From NASCAR, Too
Ad Sponsors Peeling Away From NASCAR, Too Looking to catch a NASCAR wreck? Here’s one: The racing association’s sponsors are pulling out, NASCAR CEO Brian France told a Reuters summit. France insists he’s talking to potential new sponsors, but wouldn’t name names. NASCAR saw a $150 million gain in sponsorship revenue in 2008, a gain [...]
NASCAR Solutions: STOP rewarding Mediocrity – Start rewarding Winners!
Frustrated over the lackluster excitement of the 2008 NASCAR Sprint Cup Series – I feel I am not alone. The racing was bland, personalities were muffled and there was not a compelling reason to watch most races. I tend to be a traditionalist in my view of the sport and the championship points system – [...]
Need More Clarification? – NASCAR in Crisis
Over the past several weeks, I have been inundated with inquiries about a variety of topics that I have discussed about the state of NASCAR and the sponsorship crisis. I feel compelled to address and clarify some of my previous statements and respond to a recurring theme of certain readers’ comments. Many of the NASCAR [...]
NASCAR for Sale – Is “Change” Coming?
On Sunday Morning, Bruton Smith conducted an interview with ESPN. After questioned about the challenging times that is facing NASCAR; Smith reaffirmed his desire to acquire NASCAR and said, “And it’s getting closer”, referring to the possibility of the France Family looking to sell NASCAR. Is Smith just stirring the pot? Or perhaps, is the [...]
Robby Gordon and Jim Beam Team Up to Support Our Troops
I typically do not publish press releases but I believe Robby Gordon Motorsports (RGM) and Jim Beam should be commended for their efforts to support our troops and their families. Starting tomorrow – on Election Day, RGM and Jim Beam will launch an online charity auction giving racing fans and all Americans the opportunity to [...]
The Failing NASCAR Economy: A Time for Action!
Most will agree that the current economic recession will have a significant financial impact on NASCAR teams and the sport as a whole – but does it really need to be this way? In 2009, there will be significantly less Sprint Cup teams competing on a weekly basis – and yet, in economic downturns other [...]
NASCAR Must Embrace New Media: Proposal Attached
Over the past several months, as the advertising market has become increasingly more challenging, I have written numerous posts about the need for NASCAR and Sprint Cup teams to evolve and innovate to stay competitive in the corporate boardrooms. In my posts NASCAR 2.0 and NASCAR Sponsorship 2.0, I discussed opportunities to generate revenues and [...]
Survival of the Fittest? – NASCAR Teams Look to Consolidation
The global credit crisis may be slowing the M&A markets of Corporate America, however, mergers and acquisitions remain all the buzz in NASCAR. Back in July, I wrote Team Consolidation on the Horizon and it appears more likely than ever that Michael Waltrip Racing (MWR) led by Robert Kauffman will acquire Chip Ganassi Racing. Additionally, [...]
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