NASCAR looks beyond current downturn to a more positive future despite current downturn
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Despite declines in attendance and TV ratings, four NASCAR movers and shakers say they see brighter days ahead for the sport.
NASCAR Media Group President Paul Brooks, team owner and ESPN analyst Ray Evernham, 909 Agency Partner Max Siegel and SMI President and Chief Operating Officer Marcus Smith covered the new NASCAR Hall of Fame, sponsorship concerns, diversity and other topics as part of a panel at the Charlotte Business Journal’s annual Power Breakfast.
“Things might be down, but we’re still far ahead of other sports when you look at attendance, TV ratings, sponsorship,” Evernham said. “Dollar for dollar, it’s still the best advertising you can get.”
Added Siegel: “It’s a tremendous time to reinvent ourselves.”
The panelists put a mostly positive spin on the sport’s position, even though the recession has clearly affected NASCAR on several fronts, most notably sponsorship.
“Sponsors are asking for a lot more measurement,” Smith said. “Ten to 12 years ago, I don’t think people were as savvy about measuring everything. But what we’re seeing is that some of the sponsors that have spent the most money in the sport were the ones measuring five, six seven years ago. Considering that there’s more scrutiny on that check before it ever gets out the door, it shows there’s tremendous value in the sport.”
Brooks said, “We have over 400 sponsors in our sport and there’s a reason for that.” He added that the NASCAR Hall of Fame, scheduled to open in May 2010 in uptown Charlotte, will be the first hall that represents not just a sport, but a league.
“No professional league has had this,” Brooks said. “That’s a significant point of difference for NASCAR. This facility not only represents the history of the sport, but also its future.”
The hall of fame and adjoining NASCAR Plaza offices will be the home for NASCAR Media Group and licensing office, about 250 employees in all.
NASCAR Media Group President Paul Brooks, team owner and ESPN analyst Ray Evernham, 909 Agency Partner Max Siegel and SMI President and Chief Operating Officer Marcus Smith covered the new NASCAR Hall of Fame, sponsorship concerns, diversity and other topics as part of a panel at the Charlotte Business Journal’s annual Power Breakfast.
“Things might be down, but we’re still far ahead of other sports when you look at attendance, TV ratings, sponsorship,” Evernham said. “Dollar for dollar, it’s still the best advertising you can get.”
Added Siegel: “It’s a tremendous time to reinvent ourselves.”
The panelists put a mostly positive spin on the sport’s position, even though the recession has clearly affected NASCAR on several fronts, most notably sponsorship.
“Sponsors are asking for a lot more measurement,” Smith said. “Ten to 12 years ago, I don’t think people were as savvy about measuring everything. But what we’re seeing is that some of the sponsors that have spent the most money in the sport were the ones measuring five, six seven years ago. Considering that there’s more scrutiny on that check before it ever gets out the door, it shows there’s tremendous value in the sport.”
Brooks said, “We have over 400 sponsors in our sport and there’s a reason for that.” He added that the NASCAR Hall of Fame, scheduled to open in May 2010 in uptown Charlotte, will be the first hall that represents not just a sport, but a league.
“No professional league has had this,” Brooks said. “That’s a significant point of difference for NASCAR. This facility not only represents the history of the sport, but also its future.”
The hall of fame and adjoining NASCAR Plaza offices will be the home for NASCAR Media Group and licensing office, about 250 employees in all.
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