The View from Here: The Business of NASCAR

Many NASCAR fans are unhappy with the current format of the Chase for a variety of reasons. Some say it favors one driver in particular, Jimmie Johnson, while others argue that there needs to be a road course included in the Chase. Regardless of the reasoning, it is clear that there is a large percentage of NASCAR fans who are disgruntled by the way NASCAR crowns its champion, and it is becoming apparent in both the television ratings and race attendance.

It can't hurt for NASCAR to listen to the outcries of its core fans. There are a number of remedies suggested to curb the angst fans feel toward the Chase, such as adding more drivers, diversifying the final ten races to include a road course, or changing the points system. Since the inception of the current Chase format in 2005, both television ratings and race attendance have plummeted. One has to ask, "Can NASCAR afford not to listen to its fans for much longer?"

And that's the view from here.

LC

Posted by at 9:24 AM | Permalink | Comments (0)

With attendance numbers steadily declining at the tracks, are corporate sponsors becoming more concerned with where their investment dollars are going or is there more than what we see at the track? This is a question that top-level executives of companies such as Sprint, Aflac, UPS, Best Western, DuPont, and other major corporate sponsors continue to reassess. Over the years NASCAR has become an intriguing place to invest for major corporations not only because of fan loyalty but also because of the potential profitable relationships that can be developed via NASCAR's B2B Model.

NASCAR's B2B Council sets up events quarterly where official sponsors can get together and come up with ways to make their partnerships profitable. This forum for B2B partnerships makes NASCAR even more attractive for investment and keeps its sponsors happy with the valuable relationships they're able to develop. A recent example of NASCAR's B2B model is "NASCAR's Fuel for Business Driving Business Award" winner Aflac. Aflac used NASCAR's B2B event to establish profitable partnerships with companies who can use their services, such as Office Depot, Ford, and Cintas.

As attendance continues to decline, it will be interesting to see how NASCAR is able to continue to provide new avenues of value for its sponsors.

And that's the view from here.

DO

Posted by at 9:13 AM | Permalink | Comments (0)

For those of us who are and have been dedicated NASCAR fans for years (or even decades) the question we sometimes ask is: Why is attendance declining in NASCAR? I have been wondering the same and and as a result of my curiosity I searched for possible reasons as to why attendance continues to decline in NASCAR.

According to an article on Forbes.com, a few reasons are: high price of gas cutting back travel, cost of hotel rooms and food, bored by lack of drama, and ticket prices at the track. Joe Baumann of Erie, PA "thought that races with boxier and safer cars were not as exciting as they used to be." In response, NASCAR is looking to make improvements to regain interest from those fans who lost interest in the sport.

The Washington Post stated that NASCAR Chief Executive Brian France is looking for ways to make NASCAR's car more "racey after NASCAR mandated a single body shape for all of its cars in 2007." In addition, France recently decided on making the races start earlier and on at a more consistent start time.

NASCAR is aware of the declining attendance and is working on making changes to address the issue. We will not find out whether these changes will be successful until racing starts next year. However, for those who have decided to attend fewer races or not to attend any races at all, it may be difficult to pinpoint the exact reasons as to why each person has made that decision. On the other hand, for those of us who remain NASCAR fans, we can only hope that these changes will bring about a positive effect for the future and for the betterment of the sport.

And that's the view from here.

LK

Posted by at 2:27 PM | Permalink | Comments (9)

NASCAR is one of the most famous sports besides the NFL that people like to watch on television whenever they have spare time. Surprisingly, the number of people who watch car racing on television has decreased in the past few years. If the viewership keeps decreasing, car racing may soon cease to be one of the most popular sports.

We are said to be the generation of technology. Younger people can watch sports on their Mac book or little net book while they do other things such as write an essay, play games, or search the web at the same time. There are also too many unnecessary commercials during the race telecast, and this advertising could make some viewers lose interest and change to another channel very quickly. Sometimes the quality of the racing on television is not exciting enough to keep the fans tuned in.

Overall, most people just want to save money since the economy is currently in a slow state; and attending an actual NASCAR race could cost at least $45. If the cost of the tickets is too high, it will be hard for the fans to go to the race track. However, what is the point of wasting time to watch a race on television if you could go to the actual race? Unless ticket costs become more affordable, fans won't show up for the races and may be turned off to watching on television.

And that's the view from here.

PL

Posted by at 9:33 AM | Permalink | Comments (0)

NASCAR is said to be one of the most viewed professional sports on television. The only sport that beats it is the NFL. NASCAR is broadcast to over 150 countries around the world. It is a multimillion dollar business with millions of fans attending and watching around the world. If all this holds true, then why is NASCAR facing struggles with attendance at events and a drop in TV?
The cause of this drop-off in viewership and attendance is unknown to many. It can be a variety of things. The sport's best drivers are not competing at the same level and some may think they're running low on the tank. The new drivers that NASCAR brings in, or will bring in, may not have the same racing vibe as the previous drivers. I can somewhat compare this situation with WWE Wrestling.

At first it grew at a ridiculous rate because it was fairly new and everyone wanted to watch their favorite old school wrestlers duke it out. After a couple years, the attitude of the show, the story lines and the wrestlers themselves were getting old. With new wrestlers coming into the business, fans of the old generation were left hanging and not attracted to something they watched growing up and loved. It just wasn't the same anymore.

I believe that NASCAR is somewhat going the same way. I may be wrong or I may be right. It is just an idea to provide. Something new may have to be provided in order to remain the big business that NASCAR is. I think something needs to happen to spice things up a bit to give it an edge of entertainment and drama. As some may say, Danica Patrick may be coming to NASCAR. That can tip NASCAR fans good or bad; it all depends on how the fans take it. We may just have to see what the business of NASCAR can provide to its loyal viewers and see if a renewed interest in the sport can begin again.

And that's the view from here.

AM

Posted by at 10:43 AM | Permalink | Comments (0)