Hey, did ya hear that they are a couple of companies are looking into developing the software to have self driving trucks? The world turns and it changes.
The sport is niche based. Proof, The two most recognized drivers have roughly the same number of twitter followers. Jimmy Johnson has 2.52 million and Dale Jr. has 2.21 million twitter followers. Lets look at some other sports figures: LeBrown James has 37.3 million, Steph Curry has 9.9 million. Tim Tebow has 3.9 million, Ronda Rousey has 3.43 million, Tiger Woods has 6.25 million, and Colin Kaepernick who doesn't have a job has 1.15 million. If you put those guys on a street in NYC, San Francisco, or LA which of them gets recognized and which walks away without being recognized? That's an issue for NASCAR. Dale is about to retire and Jimmie isn't gonna hang around too much longer either. The next generation of NASCAR drivers stack up this way for twitter followers: Austin Dillion 264K followers, Kyle Larsen 299K followers, Joey Lagano 437K followers, and Brad Keselowski 747K followers. That important because the most important influencer of travel/new experiences, is a Millennials’ social network(s). While more than
half of young travelers only post on their accounts a few times a week during a vacation, they cite social media as the biggest factor influencing their travel choices. What platforms hold the most weight in their decision making? The majority of Millennials use Facebook, Pinterest, and/or Twitter as travel inspiration. In other words, if their friends aren't at the track to provide a post/twit/like then they ain't interested in going themselves.
I think it is the appropriate venue 10 to 20 years from now. The generation that is 20 will be 40 by the end of that time period. NASCAR will have aged out of its current fan base by then.
To replace them with the Millennials and Gen Z after them NASCAR is going to have to get proactive. Example, is the fall in people going to the track and having some announcer say over and over again (like Rick Allen did this past weekend) that they are headed into turn 1 at 210 mph doesn't convey anything to someone watching it on TV who has never seen a vehicle move at that pace. The vehicles on TV look like the cars headed down your local roads. How are we going to get the next group of fans to join our niche based fun? (See the above answer about twitter followers and their social network and why all of a sudden that is important).
Research shows that Millennials are considered digital natives and Gen Z is the first generation to be born and raised in a truly digital age. Where Millennials multitask between two screens, i.e., a laptop and a mobile phone, Gen Z can juggle up to five screens, i.e., laptop, phone, TV, desktop, and gaming device. You have to offer a product they are interested in or they move on to something else quickly. How quick? Gen Z the data is 8 seconds vs. 12 seconds for Millennials. How's that 6 hour rain delay race gonna get them interested? They have no interest sitting in stands with minimal wifi for hours on end and do nothing. They want to be entertained. NASCAR needs to partner with products they care about, and tie themselves into issues they care about. NASCAR needs to sell towards affluent Millennials to survive. NASCAR needs to recognize that experiences win out over just product driven campaigns. That begins with understanding the need for co-creation, co-participation and experience innovation. NASCAR and the tracks are starting to get on board with this idea. They are about 5 years behind the NFL, NBA, and MLB in what they are doing to their properties. They are a decade behind the music promoters. Being the rebel sport of moonshiners might have worked in the past but it ain't gonna be a key selling point in the future.
The environment and how human's impact it is important to the Millennials and Gen Z'ers. Thus, this has been a very long answer to why tie electric cars into NASCAR and I hope it makes sense. I'm a bit tired.
