NASCAR FACILITIES ADDING NON-TRADITIONAL EVENTS TO CALENDAR TO SUPPLEMENT DECLINING ATTENDANCE REVENUES
As NASCAR attendance declines, racetracks have been actively working to add non-traditional events to their calendar, to supplement admissions revenue losses. Tracks located in major markets are having the most success, with Las Vegas Motor Speedway (TRK) hosting more than 1,400/year. The concert industry has been drawn to the massive facilities as the vast parking lots, camping areas and other existing amenities suit the needs of a music festival, but smaller events from women’s professional bowling events to American Royal BBQ contests have also found success at the unorthodox location. It should be noted that while no specifics have been given, even with 1,400 non-traditional events/year at Las Vegas Motor Speedway, the revenue generated from those events makes up less than half of the track’s annual revenue.
Howie Long-Short: Annual speedway revenues peaked in 2007 at $814 million. Revenues dropped all the way down to $661 million in 2016. These massive facilities cost money to operate and generate nothing when not being used. Why not try to book as many dates as you can fill?
Fan Marino: I’ve never attended an event besides a race at a NASCAR facility, but after watching Tennessee/Virginia Tech play the ’16 Battle at Bristol (TRK) in front of 153,000 people, watching a football game at one has been added to the bucket list.