|By Business Wire||
|April 7, 2014 01:30 AM EDT||
Turf TV today announces another year of market growth and significantly increased returns to British horse racing, demonstrating the continuing importance of quality horse racing to betting shops. It enters 2014 licensing more than 50% of all British horse racing fixtures.
Turf TV provides racing pictures to almost all the UK’s betting shops from 34 of the best British racecourses, including Aintree, Ascot, Cheltenham and York as well as from premier tracks in the United States including Santa Anita Park, Gulfstream Park and Pimlico Race Course.
- Highest number of Turf TV subscribers ever, with more than 98% of the 10,450 British and Irish LBO market taking the service at the end of 2013.
- Turf TV made payments of £45m to its 34 racecourses, with these payments representing more than 65% of all revenue generated by the business. This is a significant addition to the projected £76.6m contributed to all British racing via the 52nd Levy Scheme for 2013/14.
- New long-term deals with Coral, Ladbrokes and William Hill came into force, which together represent more than 70% of the British market.
- Independent bookmakers continue to sign up to Turf TV - the last large independent, Chisholm Bookmakers, with 48 licensed betting offices, committed to Turf TV in January 2013.
- Ongoing product and content development to attract customers and drive revenues. In June 2013 Turf TV entered an agreement with the Stronach Group to provide quality US racing, specifically packaged for the UK market, and started broadcasting 5 nights a week from September 2013 (showing circa 14 races per evening).
Strong start to 2014
- In January Turf TV signed an exclusive supply deal with William Hill for US horse racing coverage which precipitated a move to broadcasting US racing 7 nights a week – Turf TV is now broadcasting 10.30am -10.00pm every day.
- For the first time, in 2014 Turf TV will carry over 50% of all UK fixtures, broadcasting 90% of all British Group and Graded races, including most of the key festival races from the UK’s leading racecourses.
- In March Turf TV secured a long term deal with BetFred, which means over 85% of the LBO market is contracted to Turf TV until at least March 2018, which is the end of the current media rights cycle.
Simon Ellen, Chairman of Turf TV, said:
“Turf TV has driven significant growth since it entered the market in 2007 and has successfully consolidated its position, helping to ensure that quality horse racing remains at the heart of the British LBO.
“Against a challenging backdrop, Turf TV has developed both a strong product offering and established market share. We have also significantly increased the returns to racing, which the Turf TV Directors expect will increase in 2014. With the security of long-term deals with all our major customers, combined with new and innovative content offerings such as US racing, we are well-positioned going forward.”
Adrian Ford, Managing Director of Turf TV, said:
“This has been another year of significant achievement for Turf TV, reflected in our strong performance. British racing continues to be the most popular over-the-counter product in British LBOs and our high quality content has proved popular with our customers and punters alike. In keeping with this commitment to quality, in June we were delighted to enter an agreement with the Stronach Group to provide US racing coverage from more than 20 of the top US tracks.
“We begin 2014 in an excellent position, broadcasting 90% of all British Group and Graded races and, with the addition of US racing and following our deal with William Hill, broadcasting seven days a week, morning till night.”
Notes to Editors
Turf TV is the brand name of Amalgamated Racing Limited (AMRAC) which owns the live broadcast rights for 34 of the UK’s leading racecourses. AMRAC is a joint venture company owned 50-50 by Racecourse Media Services Limited and Timeweave Ltd. Turf TV provides TV pictures and data to betting shops in the UK and Ireland and broadcasts 90% of all British Group and Graded races, including most of the key festival races from racecourses such as Ascot, Newbury, York, Sandown Park, Cheltenham and Epsom. Turf TV has racecourse media rights agreements through to 2018 and long term contracts with major bookmakers in the UK and Ireland. In June 2013, Turf TV announced the agreement with The Stronach Group in the US, to bring the highest quality US racing to the UK betting shop market, specifically packaged for the UK market.
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