Business of Sport Ep.18: Nevin Truesdale, CEO @ The Jockey Club, 'Racing has never been safer, and the data proves it'
Apr 9, 2024
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Nevin Truesdale, CEO of The Jockey Club, discusses the challenges and advancements in horse racing, including engaging younger audiences and addressing animal welfare concerns. They explore the evolution and impact of the Jockey Club in British horse racing, balancing tradition with attracting new audiences, and enhancing public perception. The importance of showcasing jockeys as personalities, modernizing the sport, and embracing innovation to engage audiences is highlighted.
Horse racing industry showcases increased safety measures and welfare improvements to appeal to younger audiences.
Attracting diverse demographics by dropping traditional barriers and promoting digital engagement is critical for horse racing's growth.
Emphasizing online betting and media rights while promoting responsible gambling and equine welfare through accessible content is key for the industry's financial sustainability.
Deep dives
Importance of Shifting Perceptions on Equine Welfare
Demonstrating the safety measures in horse racing, such as the decrease in fatality rates over the years and significant investments in welfare improvements, is crucial to changing perceptions, especially among younger audiences. By highlighting proof points like high safety rates and substantial industry investments, the sport aims to show that it is now safer than ever, addressing concerns about equine welfare.
Significance of Reaching New Audiences and Embracing Change
Attracting younger audiences and showcasing the safety and welcoming nature of horse racing is essential for the industry's growth. Creating a more inclusive environment by dropping dress codes and promoting diverse race day experiences helps dispel misconceptions and opens the sport to a wider demographic. By adapting to modern preferences and promoting personalities like jockeys, racing aims to engage fans through digital platforms and immersive behind-the-scenes content.
Media Rights and Betting Influence on Racing Finances
Media rights and betting play a significant role in the financial ecosystem of horse racing, with over 70% of betting occurring online. The balance between terrestrial and online coverage is vital, not only for commercial revenue but also for promoting safe gambling. Racing emphasizes the majority of safe and responsible betting activities and aims to showcase the industry's commitment to equine welfare through accessible behind-the-scenes content and media strategies.
Innovating Horse Racing with Technology and Marketing Strategies
The podcast discusses the importance of integrating technology and innovative marketing strategies to elevate the horse racing industry. By using green screen content, docu-series, and data analysis tools like Ellipse Race IQ, the industry aims to enhance viewer engagement and offer new perspectives. Implementing measures like wiring up jockeys before races, capturing behind-the-scenes moments, and enhancing coverage with unique content, the focus lies on making the sport more appealing and accessible to a wider audience.
Challenges and International Collaboration in the Horse Racing Industry
The episode delves into the challenges faced by the horse racing industry in maintaining competitiveness and attracting international participation. Issues such as funding disparities, stakeholder collaboration, and the balance between tradition and financial incentives are highlighted. Emphasizing the importance of international interactions, like partnerships with regions like Ireland and France, the podcast underscores the need for strategic governance and adapting to global trends to ensure the sport's continued growth and relevance.
This week, ahead of the Grand National on Saturday, we are delighted to welcome Nevin Truesdale to the show. Nevin is the CEO of The Jockey Club, the largest commercial horse racing organisation in the UK. It owns 15 of the country’s most famous racecourses, including Cheltenham and Aintree, as well as thoroughbred horse breeding farm ‘The National Stud’ and land management company ‘Jockey Club Estates’.
Horse racing is the UK’s second most attended sport, with nearly 6 million people visiting racecourses each year. It is a sport steeped in history and tradition, but has come under fire in recent years for not embracing change, appealing to younger audiences, and of course well documented animal welfare concerns.
Nevin, who has been Chief Executive since 2020, gives us a very honest account of the challenges the sport faces, but at the same time, all of the positive steps being made and the developments successfully implemented to counter some of the critique levelled at racing.
On the show, we discuss:
The success and history of racing:
Where does racing sit in the UK and global sporting ecosystem in popularity and participation?
The difference between jump and flat racing.
What is the role of The Jockey Club? How has it influenced the sport over the last few hundred years and what is the organisation doing to ensure the sport continues to move forward.
How is racing governed, and is it set up to be able to modernise and develop it’s proposition in this competition for eyeballs and attention?
The importance of racecourses to local economies and an increasingly varied use of venues for commercial, events and social purposes.
The international growth of the sport and the opportunities and challenges that presents to racing in the UK.
Challenging negative perceptions:
Animal welfare issues have been a continuous issue for racing in recent times. How legitimate are these concerns and what is being done to improve safety in the sport.
Accessibility and exclusivity. How The Jockey Club and the wider sport are tackling critiques around elitism and a lack of diversity, and how this is not an accurate representation of the sport.
The fight to win the argument for reasonable opinion: how you are unlikely to change the minds of the most passionate critics, but it is the people in the middle that need to be convinced.
How removing restrictions around dress codes and better cross platform communications can make the sport more appealing to the younger demographic.
The importance of betting to racing, and the controls put in place to ensure people can participate in this side of the sport safely.
Media rights and content:
How racing’s deal with ITV brings over 100 days of live racing to fans in the UK and continues to ensure the biggest events remain free-to-air.
The opportunity to build relationships with ‘new media’ platforms, from social media companies to OTT platforms, and what that adds to the offering.
The imminent release of a behind the scenes documentary in the summer will bring a new level of access to the world of racing and how it operates.
Social media success has made some of the content produced a new staple in sporting TikTok and short form content. What is the impact of this on attracting new fans?
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