NASCAR’s Upcoming Deal Could Prove Monumental as Drivers and Teams Await Charter News as Early as Next Week

While the TV viewership numbers may not be at an all-time high, NASCAR has decided to expand its horizons and delve even deeper into the streaming world. In today’s day and age, streaming has become almost, if not already, bigger and more popular than television.  If a deal is struck with major streaming services, it could be massive news in terms of viewership and inflow of funds.

NASCAR’s current TV agreement is set to expire and negotiations for the next one are currently underway. It has been speculated that NASCAR will make an announcement on the matter soon, and it could be a lot different than what people might expect.

Is NASCAR set to make a revolutionary media deal?

As per a report in the Sports Business Journal, NASCAR has decided to increase the number of races on streaming platforms from six to ten in the 2024 season. The stock car racing organization currently has a deal with both FOX and NBC, but if more races are broadcast on streaming platforms, the two networks will have less material to air live.

However, the report also states that FOX and NBC have decided to rejoin NASCAR as its TV partners. Since 2015, the two organizations have shared the TV rights for the Cup, Xfinity, and Truck Series races. It will be interesting to see how things pan out when the new deal is announced, which could be as soon as the banquet. Prime Video and Turner’s Bleacher Report Sports are reportedly the front-runners to bag streaming rights.

Drivers and teams are also entitled to a chunk of the media income and they will all be waiting for the deal to be finalized. NASCAR can then speak to the teams about the charter and the revenue split agreement, which is a crucial matter for every single competing team. It will be interesting to see how things turn out and all eyes will be on the upcoming banquet as per veteran journalist Adam Stern.

However, moving 10 races exclusively to streaming could cause an issue with the all-important sponsors. While other major sports leagues like the NFL and MLB have already given exclusive broadcasting rights to certain streaming platforms, things might not be as smooth for the stock car racing promotion.

Teams may have a tough time with sponsors if the potential deal is signed

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The teams in NASCAR are heavily reliant on sponsorship money, regardless of how big they might be. The one thing sponsors will want is to get as many eyes on the races as possible. When 10 races are given to streaming platforms, their viewership will presumably be a lot less. This could hamper teams, which is why determining the revenue-sharing model is so important.

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There is also the issue of demographics. The NASCAR audience is mainly comprised of people who prefer television over streaming services. Yes, there is a big chunk of fans who will tune into whichever streaming platform the races are held, but it may take a very long time before the sport gets as much viewership as is the norm.

With NASCAR’s television viewership numbers on the decline, it certainly is a risky move to make some of your die-hard pay extra money for 10 races in a season. If this is the way things pan out, will it be a success in the long run? Let us know your thoughts.

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