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NASCAR aims to divvy up its media rights with a new summer race package reportedly drawing interest from Amazon and Warner Bros. Discovery.
Amazon and Warner Bros. are competing with a third broadcaster for a package of six to eight races during the summer, according to Bloomberg. The report did not name the third broadcaster partaking in the negotiations. NBC and FOX are reportedly close to renewing their contracts with NASCAR, as their existing deals that pay a combined $820 million per year to the racing league expire at the end of the 2024 season.
Front Office Sports reported in November that NASCAR was seeking a 10% to 15% increase in rights fees for its next cycle of media deals. The CW recently agreed to pay a reported $805 million for broadcast rights to the NASCAR Xfinity Series from 2025-2031.
WarnerBros.-owned TNT previously aired NASCAR races until 2015. Warner Bros. is interested in beefing up sports programming on HBO Max, leaving the streaming service as a potential home for NASCAR’s new summer package.
Average viewership for the NASCAR Cup Series increased last year to about 3 million per race, which is down about 4% compared to 2018.
NASCAR’s aim to boost revenue by adding new media partners is a trend across sports as leagues meet the dueling interest from streaming services and legacy TV networks. The NFL, for example, has sold separate streaming packages to Amazon for its Thursday Night Football rights and new Black Friday game, while the NBA’s inaugural mid-season tournament will be a new asset available for sale to broadcasters.
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