The Future of British Horseracing
Mixed messages emerged from last week’s BHA roadshows, fronted by Chief Executive Nick Rust, as the future of British Horseracing was discussed.
It is thought that over 85,000 jobs are now linked to the British horse racing industry, however, with only 26p in every pound being returned to the owners it comes as no surprise to hear that there are now 7% less horses in training when compared to 2010.
Attendance levels at UK race tracks continue to increase with over 5.8m attending a race meet in 2014. The increase appears, however, to be driven largely by the growing popularity of music night racegoers, which is up 600,000 versus 1999. Without this increase it is thought that core attendances are actually down some 10%.
People have so many ways to spend their money today and racecourses needed to adapt their strategies to better align with today’s consumer demands. If nothing else, the increased attendance figures illustrate that they are clearly getting something right.