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Race Track Business Conference Provides Valuable Tips, Takeaways
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IndyCar President of Competition & Operations Jay Frye headlined an esteemed panel of leading industry professionals who provided attendees with an outstanding overview on the current status of motorsports—on and off the track—during the Race Track Business Conference (RTBC) at the 2017 Performance Racing Industry (PRI) Trade Show on Wednesday.
This year's RTBC featured nine sessions focusing on a wide variety of topics relating to race track management, including fan engagement, sanction risk management, sponsorship data analytics, media, and video technology, among other key subjects. Now in its sixth year, the RTBC provides attendees a platform to learn, collaborate, analyze, and conceptualize around the business of motorsports.
Among the topics Frye addressed was the importance of technology in motorsports, and whether it results in better racing.
"You need to be careful with technology because you can go too far," said Frye. "Implementing or using technology can be expensive, and the cost can far outweigh the benefits. You have to act fast because it can be hard to bring something back."
In one panel, Summit Motorsports Park Owner Bill Bader III, Tailgating Sports Marketing Sales & Media Director Jenn Piokowski, and Kentucky Venues CEO Jason Rittenberry discussed engagement and the value in understanding the relationship between an event, the venue and spectators, including millennial racing fans.
"Every generation of race fan is different and has different wants, needs and expectations," said Bader. "They have a different set of values that they operate under. Some are more traditionalists, some are more innovative, and that makes our job really tough. We have to understand each generation and what their hot buttons are, and be able to create offerings that make us attractive to each generation of fans."
The session was especially valuable to attendees like Randy Peters, owner of Crossroads Dragway in Terre Haute, Indiana.
"As a track operator I'm interested in learning how I can improve my business," said Peters, who was attending his second RTBC after picking up ideas and tips at last year's conference. "I took pages of notes of ideas I can implement into my business. I'm always looking to better improve what I'm doing and my bottom line."
This year's RTBC featured nine sessions focusing on a wide variety of topics relating to race track management, including fan engagement, sanction risk management, sponsorship data analytics, media, and video technology, among other key subjects. Now in its sixth year, the RTBC provides attendees a platform to learn, collaborate, analyze, and conceptualize around the business of motorsports.
Among the topics Frye addressed was the importance of technology in motorsports, and whether it results in better racing.
"You need to be careful with technology because you can go too far," said Frye. "Implementing or using technology can be expensive, and the cost can far outweigh the benefits. You have to act fast because it can be hard to bring something back."
In one panel, Summit Motorsports Park Owner Bill Bader III, Tailgating Sports Marketing Sales & Media Director Jenn Piokowski, and Kentucky Venues CEO Jason Rittenberry discussed engagement and the value in understanding the relationship between an event, the venue and spectators, including millennial racing fans.
"Every generation of race fan is different and has different wants, needs and expectations," said Bader. "They have a different set of values that they operate under. Some are more traditionalists, some are more innovative, and that makes our job really tough. We have to understand each generation and what their hot buttons are, and be able to create offerings that make us attractive to each generation of fans."
The session was especially valuable to attendees like Randy Peters, owner of Crossroads Dragway in Terre Haute, Indiana.
"As a track operator I'm interested in learning how I can improve my business," said Peters, who was attending his second RTBC after picking up ideas and tips at last year's conference. "I took pages of notes of ideas I can implement into my business. I'm always looking to better improve what I'm doing and my bottom line."
