NASCAR Might Have Just Saved Themselves With the $7.7 Billion Media Rights Deal
In A World Where Sports Are Battling For Viewership, NASCAR Has Made A Bold Move. A whopping $7.7 Billion media rights deal has been Forged, but is it the game-changer NASCAR needs or just a mirage in the desert of declining cable subscribers?
NASCAR Has Pulled Off A Stunning $7.7 Billion Deal With Media Giants Fox Sports, NBC, Amazon, And Warner Bros Discovery. This Deal Promises An Average Annual Revenue Of $1.1 Billion and has Left The Sports World In Awe And NASCAR Fans Divided.
The Hidden Challenges
Despite a 40% increase over their current media rights deal, not everything is rosy. As Adam Stern from Sports Business Journal points out, "NASCAR is in a tough situation because they had to deliver more money as well...they had to go this route to deliver more money for the industry."
The Future of NASCAR
With a 5% drop in viewership this year, NASCAR is betting on the streaming arena with Amazon Prime. Stern explains, "Partially, they [NASCAR] did it to spread their eggs in multiple baskets but also part out of it was to get more money." Only time will tell if this gamble pays off.