Racecourse Media Group (RMG) has announced payments of £113million to its racecourses generated from their media and data rights in 2024.
RMG’s 2024 performance demonstrated resilience amid significant challenges posed by affordability checks, a tough macroeconomic environment, shifts in racecourse rights and increasing competition from other sports. Despite those headwinds, the total number for licence fees and dividends payable to RMG racecourses was less than 1% down on 2023 (£113.9m).
Revenues were generated across RMG businesses, including: Online Betting; LBO (UK and Ireland betting shop service via SIS partnership); International (including GBI Racing partnership with ARC; Tabcorp partnership in Australia and New Zealand; Racing 1 partnership with ARC, I/ST and Tabcorp; and Hong Kong Jockey Club partnership); Racing TV channel; International TV; Mainstream TV (ITV agreement) and Racecourse Data Company (a joint venture between 59 UK racecourses for the licensing and control of Pre-Race Data).
Conor Grant, Chair of RMG, said: “Growth in our streaming business and robust performance in LBO, combined with product innovation for customers, plus new and enhanced domestic and international partnerships, enabled RMG to deliver a strong performance in a challenging environment.
“RMG remains at the forefront of media and data rights for British and Irish Racing and I want to thank our valued racecourses for entrusting us with those rights. I also want to thank former CEO, Martin Stevenson, who stepped down towards the end of 2024, for his contribution to RMG over the years, and to welcome his successor Nick Mills, who has already made a strong impression in his first six months.”
Nick Mills, Chief Executive of RMG, added: “I would like to thank RMG staff, presenters, pundits, freelancers, bookmakers and commercial partners – as well as the RMG racecourses who we collaborate closely with – for all their support and hard work in 2024. This enabled the business to deliver exceptional broadcast and product outputs, which enabled £113m to be returned to RMG racecourses.
“Looking ahead, we are committed to growing our products and output, through the likes of Coursetrack, RaceiQ and our digital platforms, while identifying new betting and revenue opportunities, via in-play, bet builders and self-service betting terminals.
“Last year signalled the 20-year anniversary of Racing TV. We are in an enviable position to show top-class British and all Irish racing – thanks to our valued partnership with Horse Racing Ireland and Association of Irish Racecourses – as well as other premium racing from around the world. The TV pictures underpin the business and I’d like to pay special tribute to all staff at our production offices in Ealing and Raynes Park.
“RMG remains committed to increasing returns for racecourses and shaping a thriving future for the sport, and we look forward to working closely with all stakeholders to achieve this in 2025 and beyond.”