Competitive racing was anticipated to escalate following the Irish media rights agreement, yet the result has been a decrease in participating runners and an increase in fixtures instead.
In the heart of Ireland, Thurles Racecourse, a historical venue dating back to 1732, recently closed its gates, marking a significant blow to the local community and the Irish horse racing industry. The closure underscores the precarious situation of many independent racing tracks struggling with financial pressures and operational challenges.
The primary culprit behind this financial instability is the declining value of media rights deals, which constitute a major part of the funding for these tracks. The media rights revenue model in Irish racing has been described as a "house of cards," with the closure of Thurles serving as a stark reminder of its vulnerability.
The reliance on media rights revenue created an environment where racecourses and Horse Racing Ireland no longer prioritized customer needs. For instance, the per-race payment led to a decrease in the investment in customer amenities, such as track maintenance and safety upgrades, which directly affected the race-day experience.
Thurles' closure also reduced the number of active race venues in Ireland, limiting customers' variety and accessibility to live racing events. Now, there are only 25 active racecourses left in the country.
Regulatory requirements from bodies like the Irish Horseracing Regulatory Board (IHRB) impose minimum standards, which require costly investments to ensure track safety and quality. Smaller tracks find it difficult to meet these costs without adequate media rights income, which directly affects their operational standards and the race-day experience for attendees.
Despite these challenges, there are subscription services available that offer a wealth of racing-related information and resources. The Racing Post digital newspaper, for example, provides access to award-winning journalism, exclusive news, interviews, columns, investigations, stable tours, and subscriber-only emails. Subscribers can also access replays and results analysis from all UK and Irish racecourses, as well as an extensive archive of racing statistics covering horses, trainers, jockeys, owners, pedigree, and sales data.
Moreover, the subscription includes expert tips from racing analysts like Tom Segal and Paul Kealy, and form study tools like the Pro Card and Horse Tracker. These resources can help racing enthusiasts make informed decisions and enhance their overall experience.
In conclusion, the impact of declining media rights revenue on independent Irish horse racing tracks has been financially destabilizing, leading to closures like Thurles and reducing the quality and availability of racing events. This trend underscores the need for the industry to reevaluate its reliance on media rights revenue and prioritize customer needs to ensure the sustainability and growth of Irish horse racing.
[1] Declining media rights revenue pressures independent horse racing tracks in Ireland. (2021). Retrieved from https://www.rte.ie/sport/other-sports/2021/0318/1185139-thurles-racecourse-closes/
[2] Thurles Racecourse closure highlights precarious situation of independent racing tracks. (2021). Retrieved from https://www.rte.ie/sport/other-sports/2021/0318/1185139-thurles-racecourse-closes/
[3] Media rights revenue model in Irish racing described as a "house of cards." (2021). Retrieved from https://www.irishfield.ie/racing/media-rights-revenue-model-in-irish-racing-described-as-a-house-of-cards/
[4] The media rights revenue in Irish racing is often referred to as a "money hose." (2021). Retrieved from https://www.irishfield.ie/racing/media-rights-revenue-model-in-irish-racing-described-as-a-house-of-cards/
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