• Loading stock data...
Thursday, February 29, 2024

NASCAR Set To Add At Least One New Broadcast Partner

  • President Steve Phelps said that the racing league plans to take on at least one new broadcast partner as it concludes negotiations.
  • Previous reports suggest that NASCAR will lean into streaming.
NASCAR president Steve Phelps speaks to the media prior to practice for the Cup Series Championship race at Phoenix Raceway.
Mark J. Rebilas-USA TODAY Sports

NASCAR is ramping up its ambitions as it continues to compete in the American motorsports marketplace.

During the Race Industry Week seminars, NASCAR president Steve Phelps said that the racing league plans to take on at least one new broadcast partner, and possibly two, as it concludes media rights negotiations for the 2025 season and beyond.

Phelps added that he expects current broadcasters NBC and Fox to remain — but they could be joined by new players: Last week, reports emerged saying that NASCAR intends to make streaming a key part of its next deal.

“I think what I would call hedging our bet is a smart thing for us to do as a sport,” Phelps said at the seminar. “No one has any idea what’s going to happen with streaming and what’s going to happen with cable. We do know that broadcast television is going to be around for the foreseeable future at 125 million homes. That’s not going to change.”

NASCAR’s current rights deal with the legacy broadcasters is valued at $820 million per season — and Front Office Sports reported last year that the league could be seeking nearly $1 billion per season in its next negotiations.

While NASCAR experienced a dip in viewership this season, it’s still the top dog for motorsports on American television: All points races this season averaged 2.86 million viewers per telecast, whereas the increasingly popular Formula 1 averaged 1.24 million viewers.

Still, the conclusion of media rights negotiations will be key for NASCAR as it continues to try to build the sport. Phelps noted that most NASCAR teams are “losing money at the Cup level” and that media rights money would go a long way toward correcting that.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Caitlin Clark

Iowa Star Caitlin Clark Makes It Official: She’s WNBA-Bound

Iowa star Caitlin Clark announced she is declaring for the WNBA draft.

Electronic Arts’ Layoffs Signal Ongoing Evolution, Struggles

The company is set to make a second major round of staff cuts in the last year.
Howard University

Howard’s Figure Skating Team Part of Olympic Sport Growth at HBCUs

Olympic sports at HBCUs are growing, with gymnastics and swimming gaining momentum.
RFK

RFK Stadium Bill Advances to Senate After Lopsided House Vote

The bill’s passage in the House, with a vote margin of 348–55, indicates strong bipartisan consensus and support for D.C.’s plans.
podcast thumbnail mobile
Front Office Sports Today

MLB’s Media Mess

0:00
0:00

Featured Today

Oct 5, 2021; Kansas City, Missouri, USA; Bob Kendrick, president of the Negro Leagues Baseball Museum in Kansas City, points to the lettering outside of the museum Tuesday.

How Do You Keep Negro Leagues Baseball History Alive? Put It in a Video Game

Negro Leagues Baseball Museum attracting increased donations, visits from ‘MLB The Show.’
February 26, 2024

The Victor Wembanyama Rookie Card Market Hasn’t Matched His Hype

A cooling market and Fanatics autograph deal leaves big-money collectors waiting.
February 25, 2024

Sham Gods: The Rapidly Growing World of Sports Impersonators on X

Fake Schefters and Wojs, fabricated trade demands, and borrowed profile pictures.
Sep 24, 2023; Oakland, California, USA; A general view of the Oakland Athletics dugout after the game against the Detroit Tigers at Oakland-Alameda County Coliseum.
February 24, 2024

Murky Future: Everything You Need to Know About the A’s Move to Las Vegas

Breaking down one of the most drawn-out, multifaceted sagas in sports.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Spotify
Multiple - USA Careers
Nike
Multiple - USA Careers
EA
Multiple - USA Careers
Sports Illustrated

Is the Owner of 5-Hour Energy Drink Turning ‘SI’ Into a Five-Hour Energy Promotional Arm?

A new story has elevated employees’ concerns about the outlet’s editorial autonomy.
Pat McAfee
February 28, 2024

‘I Don’t Got a Motherf***ing Boss’: Pat McAfee Goes Off

The ESPN radio host and commentator unloaded on ESPN exec Norby Williamson.
The Match
February 29, 2024

‘The Match’ Recorded Its Lowest Viewership But Scored Well With Female Fans

TNT Sports’ ‘The Match’ averaged 511,000 viewers.
Sponsored

How LivePass is Redefining Ticketing for the Next Generation of Fans

The next wave of ticketing technology.
February 27, 2024

Peter King Opens Up at the End of His NFL Writing Career

The writer reflects on the state of media and on challenges facing the league.
February 27, 2024

DSG Takes Big Steps Toward Recovery, But Rights Questions Remain

Bankruptcy court approves refinancing plan, settlement of legal dispute.
Ryan Clark
February 26, 2024

Tuned In: Ryan Clark Finalizing New Deal With ESPN

A pending contract could put him over $2 million per year, say sources.
February 23, 2024

WBD Touts Streaming Profit, Sports Alliance While Stock Is Hammered

TNT Sports parent sees tough reaction from Wall Street to latest earnings.