Racing Shareholders Benefit From 2012 Success
Racecourse Media Group, which manages the media rights for 33 racecourses in the UK, has announced that record licence fees of £46 million for 2012 had been distributed to its racecourse shareholders.
RMG is the umbrella organisation for 33 racecourses, which hold an interest in Racing UK TV (Sky 432/Virgin 536), Turf TV (betting shop service JV with Timeweave) and GBI Racing (international betting shop service JV with At The Races).
Simon Ellen, RMG chairman, said of the news: ‘We are pleased to report that RMG and its associated businesses have continued to make important progress in 2012.’
‘Further financial headway is demonstrated by another increase in the licence fees to £46million (from £44.2m in 2011), which includes an excellent contribution of £31.5m from Turf TV.’
‘The agreement of both important long-term contracts regarding additional UK racing content and the onward sale of that content to major LBO partners on a long-term basis are the real achievements of 2012.’
Richard FitzGerald, RMG CEO, added: ‘RMG was created by racing for racing and has expanded from a TV subscription channel to a multi-faceted global business and industry leader, which has the sport’s long-term future very much at its heart.’
‘Racecourse-owned RMG distributes 100% of profits to support Racing. RMG’s role in protecting and commercialising the media rights of the sport is essential to racecourses’ operation and prize-money.’
Ascot, already part of the Turf TV service, is also set to join RMG in June 2014.
