Key Takeaways:
– Despite a lucrative new contract, NASCAR has seen declining television viewership.
– Changes in the television landscape have led to audience fragmentation.
– NASCAR’s shift to streaming services such as Netflix, FS1, TNT, and Amazon reflects the changing paradigm.
– NASCAR is striving to attract a younger and more diverse demographic.
– Social media has been successful in increasing “social consumption” for NASCAR.
As reported on Heavy.com, NASCAR’s television viewership seems to be slowly recovering. Over the past few years, even after securing a 7-year, $7.7 billion agreement with Fox, NBC, TNT, and Amazon, the organization has experienced a decline in ratings.
Declining Television Viewership
Monday’s rain-delayed Daytona 500, for instance, attracted 6.0 million viewers, according to Adam Stern of SBJ, a drop compared to the 7.3 million viewers in 2020, which boasted a guest appearance by former President Trump. The prior week’s Busch Light Clash did not fare much better; rain timing issues impacted viewership significantly, with only 1.5 million bothering to tune in as opposed to 3.65 million in 2023 and 4.3 million in 2022.
Emerging Challenges and Competition
Television programming as we know it has undergone considerable transformation. NASCAR races, once a staple only on the big-screen networks of Fox and NBC, are now spread across various channels and platforms like Amazon, FS1, and TNT. With a plethora of content across platforms such as ESPN, FuboTV, YouTube TV, and Apple TV, audience members are more fragmented than ever.
NASCAR has had to compete with not just more channels, but an ever-increasing array of sports. Understandably, NASCAR is pulling out all the stops to attract a younger, more diverse demographic and experimenting with new races in unconventional locations, like the much-publicized Chicago street race.
Changing Media Landscape
The choice to have Netflix feature NASCAR: Full Speed underscores how much the viewing landscape has changed over the past few years. Appreciably, streaming services, social media, and cable television allow for an array of more content and viewer engagement, but they fail to consolidate viewers the way traditional networks once did.
Compounding the problem is that today’s NASCAR drivers do not seem to generate the same level of excitement and pull as their predecessors. Per Jon Lewis from Sports Media Watch, NASCAR’s 2023 season was the “least-watched season on record,” with the average viewership dipping to 2.86 million in 2023 from 3.03 million in 2022.
Looking Ahead
However, the numbers are gradually improving. As reported in Forbes, NBC’s NASCAR ratings started recuperating towards the end of 2023, and NASCAR’s social media initiatives are reaching more fans.
With the 7-year television deal in place, NASCAR can now focus on broadening its audience base across all channels. As NASCAR President Steve Phelps suggested, while “television has been a bit of a mixed bag,” “social consumption for NASCAR” has seen a rise. Indeed, this shift to “social consumption” could potentially be game-changing for NASCAR as it moves into an increasingly digital future.
As originally reported on Heavy.com, NASCAR is making progress, encountering challenges, but also finding new avenues for engagement. As part of the ever-evolving sports media landscape, it remains to be seen how NASCAR will succeed in keeping its engines roaring in the digital age.