Motor Sports - UK - January 2009
The motor sports market has experienced solid growth in consumer revenues during the past five years, although there are expectations that, with the current economic climate, the market could flatten off or even decline during 2009. However, in the longer term, the outlook remains positive, and interest in motor sport has boomed in the UK in the wake of Lewis Hamilton’s
This report considers the market for motor sport in the UK in terms of the amount spent by consumers visiting events at circuits. This reflects around half of the total revenues of the average circuit, since they all also offer a variety of non-racing activities such as track days, driver training and corporate entertainment/team-building packages (not included in the scope of this report). The report considers the hypothesis that: “the boom in interest in motor racing created by Lewis Hamilton represents the best opportunity that circuits have had for years to attract new audiences to the live spectator experience”.
Mintel last reported on this subject in Motor Sports – UK, Leisure Intelligence, February 2007.
Main report themes:
How, if at all, can circuit operators tap into the increased interest in the sport in the wake of Lewis Hamilton’s World Championship victory?
How can they increase revenue from existing customers, for example by encouraging them to go to a different type of racing to what they normally would?
How can they attract entirely new audiences to the sport, particularly the lucrative family market and a higher proportion of the ABC1 consumers?
Can they respond to the increased pressures on household finances arising from the current economic downturn? What impact will it have on ticket pricing and secondary revenues?
How can the increasingly onerous demands of sanctioning bodies for major international series be balanced with the needs of consumers in terms of value-for-money ticket pricing?
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