NASCAR’s Denial to Heed Cup Teams’ Charter Demands Emerges as Biggest Roadblock for Netflix Docuseries, Claims Insider

Have you seen the latest NASCAR documentary series? ‘NASCAR: Full Speed’ took fans on an exhilarating ride through the fierce battles for NASCAR Cup glory. Each episode showcased the intense competition as drivers and their teams fought for the championship and the chance to etch their names in history.

Funded entirely by NASCAR at a whopping $5 million, this Netflix documentary aimed to reach a broader audience and attract new fans to the racing community. Its success was fueled by unfiltered glimpses into the personal lives of NASCAR racers, adding a captivating, human element to the high-octane action. Riding on this success, a second season has been greenlit. However, the recent charter debate is posing a significant roadblock.

As reported by the Sports Business Journal, Adam Stern, the halt is because of recent negotiations over a new governing agreement. Some teams have considered not to participate in the making of the Netflix show until things are cleared. Which makes sense!

The next season will be based on the playoffs and has to start shooting it soon as only four races are remaining. The issue is that NASCAR’s charter is up for renewal after the 2024 season, with permanent charters and revenue sharing being key negotiation points. It was Denny Hamlin who initiated this discussion and demanded a bigger piece of the pie.

Denny Hamlin, in his argument, emphasized the expenses of a racing team. He demanded NASCAR should pay teams $18 million to just put the race car on the track every week. In November last year, NASCAR signed a media deal worth 7.7 billion dollars. Giving teams a good budget would make the competition more competitive.

One might think that the figure quoted by Hamlin is quite specific, and NASCAR’s Landon Cassill thought it was excessive. However, Hamlin justified his argument by giving cost breakdowns, Reiterating this, he said, “As someone who started a team from scratch and kept it as lean as I could, there are MANY other depts at a race team that are necessary to operate. Business, marketing, sponsorship, social media, it goes on and on.” Even though Hamlin made strong rebuttals, NASCAR didn’t budge.

The timing of the NASCAR documentary series couldn’t have been perfect for the teams. As it has provided them with a bargaining chip in the charter debate. For NASCAR, selling rights to Netflix has become an additional source of income. Seeing that they are doing season 2 is indicative of the first season’s success. At the moment, NASCAR has not commented on the charter deal.

Hence, the shooting of the show is bound to be extended. According to SBJ’s Stern, if a documentary isn’t shot in time for the playoffs, it’s possible the sides could still decide to do one later, perhaps shooting lifestyle content in the offseason. However, doing this could lead to failing the series, as a thrilling playoff season would possibly make for better viewership as opposed to lifestyle content. For now, the future of season 2 hangs in the balance. Did you watch the first season? According to data, it did garner a lot of popularity.

How did season 1 of the show do?

Netflix was successful in making NASCAR a little more tangible for the fans as the show also dived into the personal lives of the racers. It also managed to reach new fans, for which it had spent $5 million. According to the Neilsen report, 88% of first-week “Full Speed” viewers did not watch last fall’s championship race. Hence, the growth in viewership indicates that the vast majority of people who watched the Netflix show’s debut are potential new fans. The ratings also suggested that a significant number may have been hooked enough to start following the NASCAR races.

On these lines, NASCAR COO Steve O’Donnell told the Athletic, “To see 88 percent of new fans watching that show, and then you roll into the season and you have some terrific racing and you have a number of winners who were actually featured on Netflix, it really matched up to what we’d hoped for. It’s impossible to say exactly how much it’s driving the ratings, but you’ve certainly got to look at that stat and say we exposed the sport to a new audience.”

The increasing viewership is a reason for NASCAR to commission another season. However, the teams have put it to their advantage. What do you think will happen to the charter discussion? Would we see a protest by the teams? Let’s hope everything gets settled fast and we get to see the new documentary series soon.