In his November, 2008 View, Trot Magazine editor Darryl Kaplan calls racing's current economic model "suicidal." Equating the industry to "a runaway train heading for a cliff," he calls for the annual allocation of millions in purse money toward "development, promotion, marketing and technological change."
Kaplan compared Canadian horse racing's $8 million marketing budget to $27 million spent for Bingo, $227 million for lotteries and $671 million for casinos, pointing out that only 1.6% of total horse racing revenues are spent on marketing, far below any of its competitors.
"The message is clear," wrote Kaplan. "Our failure to reinvest in promoting the sport is suicidal. In seven years, North Americans have decreased their pari-mutuel spend on the Canadian ¬standardbred product by $373 million and we have toiled around the $8 million marketing figure for all that time.
"Taking $25 million from purses toward development, promotion, marketing and technological change, if done properly, may make an impact. How about $50 million? This funding must be directed toward a well thought out plan for the revitalization of the sport and it must be paid annually.
"For those seething at the suggestion of directing purse money to marketing efforts, convinced the lost funds will put horsepeople out of business, I suggest the following: the sport will die and you will sit idly by while it happens. Funding will dry up and this solution will cease to be an option."
To read the English version of Kaplan's View, click here.
To read the French version, click here.