Young NASCAR viewers increase – 18-34 bump in 13 of 16 races – 1 in 4 Fortune 100 companies invested in NASCAR
“Financial results for the second quarter met expectations,” stated Lesa France Kennedy, ISC Chief Executive Officer.
She continued, “Comparable revenue for the quarter was within one percent of the prior year. We remain confident our consumer-focused sales strategies are working to slow recent attendance-related revenue trends. The financial position is strengthened by our broadcast and corporate sales agreements that provide long-term visibility.”
In the 2Q of 2017 ISC generated $165.3 million in revenue. $167.6 million was generated in the second quarter of 2016. Near even.
Admissions revenue for the second quarter was $28.7 million. That number is down about $1.8 million compared to the same period from last year. 2Q races includes; Phoenix, Auto Club Speedway, Martinsville, Richmond, Talladega and Kansas.
FORTUNE 500 companies in NASCAR shows continued growth. One in four FORTUNE 500 companies invested in NASCAR, and nearly half of the FORTUNE 100 listed companies leveraging NASCAR within their marketing strategy.
The report also states the number of FORTUNE 500 companies investing in NASCAR has grown. It’s fifth consecutive year of growth, currently up approximately 7.0 percent from 2016.
“The 2017 season is shaping up well. Race format changes implemented by NASCAR have resulted in great on-track competition with 10 drivers already securing a spot in NASCAR’s Playoffs, through just 17 races. Up-and-coming drivers, Kyle Larson, Ryan Blaney and Chase Elliot are positioning themselves among NASCAR’s elite, currently holding 3 of the top 16 positions in the Monster Energy Cup Series standings.”
“Steel installation has begun on the Phoenix Redevelopment signaling a significant milestone for the project.”
Related: Phoenix Raceway Project Announced
“Construction continues with ONE DAYTONA, targeting a fourth quarter grand opening. Anchor tenants Cobb Daytona Luxury Theatres and Bass Pro Shops have experienced results exceeding expectations since opening in first quarter 2017. The Fairfield Inn & Suites is planning a fall 2017 opening. Leasing demand remains strong.”
“We recently announced six new tenants, including several first-to-market brands. The second hotel, a Marriott Autograph Collection property, recently broke ground with an anticipated opening in late 2018.”
Total capital expenditures for ONE DAYTONA and the Shoppes, excluding capitalized interest and net of public incentives, are expected to be approximately $107.0 million.
ISC also announced an infield renovation at Richmond. However, they did not go into details.