NASCAR President Steve Phelps on new broadcast partners for 2024

"What we do know is that the cable universe has declined"- Phelps said.

by Sead Dedovic
NASCAR President Steve Phelps on new broadcast partners for 2024
© Chris Graythen / Getty Images Entertainment

NASCAR President Steve Phelps has interesting plans for NASCAR. Speaking to NBC' Sports, Phelps said NASCAR is considering broadening its broadcasting reach in 2024. That would certainly be a significant thing for NASCAR as a motorsport.

Phelps emphasized that negotiations are ongoing. Things could be over soon. “We are going to have an additional partner and we may have two additional partners,” Phelps said, as quoted by! That’s kind of where we’re trying to figure out in these last few weeks — what that’s going to look like, but we already know we’re going to have more partners”.

Steve Phelps talks about the future

Phelps emphasized that certain things in the future are difficult to estimate. NASCAR has great ambitions. The main goal is to expand its base and increase the number of viewers. “I think what I would call hedging our bet is a smart thing for us to do as a sport.

No one has any idea what’s going to happen with streaming and what’s going to happen with cable. We do know that broadcast television is going to be around for the foreseeable future at 125 million homes. That’s not going to change." Media rights are crucial in every sport.

There's a lot of money on the line, and in today's world, you really can't get by without it. That's why Phelps knows how important it is to adapt to new trends and stay on the right path. “What we do know is that the cable universe has declined.

So what does that look like in two years, five years, seven years? Don’t know, but we better make sure that we have distribution points that will allow us to be successful moving forward, to have as many eyeballs as we can, while not insignificant, also getting paid. The revenue is significant that comes from these media rights or from these media partners”. - he concluded.

Steve Phelps