Racecourse Media Group (RMG) has agreed to five-year licence extensions for audio-visual and data rights for its British racecourses, the company announced on Thursday. A total of 35 UK racecourses have their LBO rights renewed, and 33 UK racecourses were renewed for all other aspects of their media rights, including streaming (watch & bet), direct to home (DTH), terrestrial TV and international betting and non-betting through Dec. 31, 2028.
Owned in its entirety by racecourse shareholders, RMG pays 100% of operating profit back to racecourses, and as a result, it is the biggest single funder of British horseracing. In RMG's portfolio are events like the Randox Grand National Festival, Cheltenham Festival, Cazoo Derby Festival, Qatar Sussex S. and the Juddmonte International S., all of which will remain there until at least 2029. In addition, RMG added all 26 Irish racecourses to its coverage in 2019, which are brodcast live on RMG's channel, Racing TV. For a full list of courses in RMG's portfolio, please visit www.racecoursemediagroup.com.
Roger Lewis, Chairman of RMG, said, “This is a pivotal moment for British racing. The RMG Racecourses, with a unity of purpose, have created business clarity and confidence for years to come. The RMG Board pays particular tribute to the outstanding leadership of the RMG CEO, Martin Stevenson, who together with his great team of RMG executives navigated this complex and detailed process with rigour, patience and clear focus.”
Added Martin Stevenson, CEO of RMG, “It is a matter of great pride that racecourses have placed their rights in RMG's hands again. RMG has a superb team, who, from the production to the commercial offices, are committed to ensuring first-class output and long-term sustainable growth for our racecourses.
“This will be achieved by continuing to create innovative and different ways of bringing the sport to life and showcasing it to our broad range of audiences. This is also made possible by our much-valued media, technical, broadcast, commercial and bookmaking partners, and, of course, the owners, trainers, breeders, jockeys and stable staff. We look forward to continuing to work with Newbury on the remaining period of their term until 2024 and we wish them well thereafter.”
Nevin Truesdale, Chief Executive of The Jockey Club, which runs 15 UK racecourses, said, “RMG has consistently delivered significant value from media and data rights over a 17-year period and unlocked revenue streams in the betting space far more than any other sport. More recently, the income RMG has delivered to all its shareholder racecourses has been vital through the very difficult pandemic period without spectators and other on-course revenues.”