IndyCar and IMS set to be profitable for the first time in over five years

[FLRacingFan]

More viewership, more sponsors, more attendance. Great news.

The IndyCar Series and Indianapolis Motor Speedway are on track to be profitable for the first time in more than five years.

The series and track, which are owned by Hulman & Co., have been losing money for years, but a combination of eliminating some positions and generating new revenue through increases in ticket and sponsorship sales helped the company’s Hulman Motorsports division return to profitability.

“We had a very good year and turned the corner,” said Mark Miles, Hulman & Co. CEO, who declined to discuss specifics regarding the company’s financial performance.

IndyCar also posted a 12 percent increase in viewership across ABC and NBC Sports Network. It finished the season averaging 1.07 million viewers for 17 race telecasts, up from 953,000 average viewers for 19 telecasts last season.

The company’s improved financial performance comes less than two years after Miles was named CEO. He restructured the IndyCar Series and Indianapolis Motor Speedway, creating a joint sales and marketing staff. He also pushed for an overhaul of IndyCar’s schedule that resulted in a shortened season and a new race in May at IMS.

Full article: http://www.sportsbusinessdaily.com/..._1473459&utm_medium=Social&utm_source=Twitter

 

[JW1]

They should be making some money. I know I spent my share at the tracks. But I loved it for sure.

 

[JW1]

They should be making some money. I know I spent my share at the tracks. But I loved it for sure.

I know for years, I figured that you couldn't get tickets to the Indianapolis 500 race. This was probably back in the 60s and 70s. I don't know at what time you could get tickets to the race, but if I would have known that tickets were available, I probably would have gone years ago. As it is, I didn't actually start going to the Indy 500 until 2011. The year that Dan Wheldon won. My seat is just above the pit entrance- about 20 rows up. So, we got a great view when JR Hildebrand hit the wall and Dan zipped around him. We have been going ever since.

In fact, I never realized that there was even a race circuit for the Indy cars. I just figured that they ran the Indy 500 race every year and that was it for the year. Silly me. But now I am really hooked on it. I am already planning my trip to St. Pete next March. I just made our reservations this week to stay in Clearwater. So, I am ready to rock and roll. I am counting the days already. I can't wait!!