A reader asks, Dear AR1.com, How come IndyCar is having such a hard time finding a replacement for Verizon as a series title sponsor? Mark Miles says the series is booming. Mordichai Rosen, Los Angeles, CA.
Dear Mordichai, Its the TV ratings. After 9 years on NBCSN and its minuscule TV ratings, Mark Miles did not learn anything. He signed a new deal with NBC and NBCSN that will see over 50% of the races on NBCSN. Their minuscule TV ratings means a title sponsor gets very little value for their money. Who is going to pay $10 million per year, plus activation costs (another $10 million) with those rating numbers? We have said time and again, if you are not getting at least 1 million viewers every race, most sponsors are not interested.
So bottom line, Miles decision to not put 100% of the races on network TV (NBC) means he will lose even more money from the lack of a title sponsor and other associated series and race sponsors he seeks. For $20 million a year a sponsor can run five 30-second ads during the Super Bowl and reach 100-million viewers five times during the game - many times more than IndyCar can deliver with its weak TV package. He also may fail to land a third engine manufacturer because of it. It's called being Pennywise and pound foolish........but who knows maybe he will pull a rabbit out of the hat. The bottom line is this - It's the TV Ratings Stupid! Advertisers pay money to reach potential customers to sell their product and NBCSN broadcasts DO NOT reach enough eyeballs so sponsors run for the exits. Mark C.
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