RMG set for £93.1m windfall from British racecourses
Racecourse Media Group (RMG) is to receive £93.1m (€105.9m/$126.7m) in revenue from media rights at its 37 affiliated British racecourses in 2017.
Payments, paid via licence fees and dividends, were derived from a number of sources and represent a 9% rise on the previous year.
Racecourses generated revenue from Turf TV, a betting shop service provider to licensed betting offices, as well as multi-platform subscription channel Racing UK and international television betting and pictures service GBI Racing.
Revenue also came from non-betting television sales overseas, digital bet-to-view streams and a terrestrial deal with UK commercial broadcaster ITV.
RMG chairman Simon Ellen said: “In 2017, we welcomed Leicester, Stratford and Taunton racecourses to RMG; the fixtures they bring across both codes have further improved the scope and number of meetings broadcast by our direct-to-home channel, Racing UK.
“2017 also marked the last full year’s trading of our LBO business Turf TV; the creation of Turf TV just over 10 years ago underlines what can be achieved through collective enterprise and ownership of content and was a game-changer for betting shop broadcasting.
“The revenues generated from 2017 enabled our racecourses to increase executive and sponsorship contribution to prize-money by £4.2m to £53.8m, an 8% increase on 2016.”
Ellen added: “There is much to look forward to, especially for our members, when racing from all 26 Irish racecourses, plus Chelmsford City, joins the Racing UK output in 2019.
“The content set is of the highest quality and, for the first time, the full narratives of the British and Irish seasons can be told on one definitive horseracing channel.”
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