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Racecourse Media Group will pay racecourses PS117.6m in payments derived from their media rights and data in 2022, compared with PS110m paid in 2021.
Payments are derived through a variety of RMG businesses including betting shops (Racecourse Retail Business), digital streaming (Digital Streaming), a pay TV channel, Racing TV, international betting, Racing TV International, and other distribution channels, mainstream TV, ITV agreement, and data (Racecourse Data Company).
Roger Lewis said, Chairman of RMG: “The RMG Model has once again proven to be resilient and dependable – in spite of significant challenges. It produced record results and performed ahead of expectations. The results are testament to the vision, dedication, and perseverance of the racecourses that came together to develop, grow, and create the RMG business.
“On behalf everyone at RMG, I would like to thank the racecourses and their owners, trainers and jockeys as well as stable staff, and our valued commercial, betting, broadcasting, and technical partners.
“I am stepping down as a member of the Board at RMG in this year. I joined the company back in 2012. It was a privilege and an honour to work with so many wonderful individuals. “I sincerely welcome Conor Grant, former CEO of Flutter UK & Ireland, who will take over the reins in October 2023 as Chairman.”
The long-running Gambling Bill Review process was a major obstacle to the 2022 results. RMG played its part by using its platforms to draw attention to the Gambling Act Review. It also ensured that its customers’ opinions and attitudes were shared with politicians, regulators and media commentators.
Bookmakers have increased their affordability checks, which led to a material and clear reduction in the betting turnover starting in early summer 2022.
Looking ahead, Martin Stevenson said, “We believe innovation is the key to growing appeal and engagement in the sport and providing a platform for future growth in license fees to racecourses, the sport and the business.”
The Coursetrack award-winning tracking system is a fundamental element in the technical innovation of the business.
“Tracking is important because it gives the business a wealth real-time data to use in developing new products and innovative ideas. In-play betting is currently being offered by BetVictor, William Hill and other bookmakers.
“Another important application of tracking data involves creating stimulating, insightful data. A suite of new facts, statistics and figures to engage audiences and support betting markets.
In addition, we are launching our Self Service Betting Terminals (SSBTs) for racing this month. It is worth noting that c.80% football bets placed in shops are done via SSBTs compared to only 10% for racing. This could be a great opportunity for racing in order to increase consumer engagement and generate more turnover in this important betting shop area.
“We’ve also improved our broadcast output with the introduction of virtual studios, augmented reality graphics and the gradual shift to remote production. We have also developed the production of racecourse streams. Horseracing TV is now at the same level as other sports like cricket and football.
Our social media campaign #raceday has generated over 20 million views. In conjunction with Paddy Power our free-to play games have attracted 2 million entries. It’s a great platform for data collection.
This approach is in line with our focus on strengthening the core capabilities that have enabled us to grow and ensure we remain ready for the future. This approach fits well with our focus to strengthen the core capabilities that have allowed us to grow where we are now, and ensure the business is ready for the future.
