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Moodie Thinking Big Picture With Media Rights
Money in the bank or the potential of long-term growth in an untapped market? That's what the media rights decision boils down to according to new Racing Victoria chairman David Moodie, reports Racing.com. Sky Racing has offered about $300 million over 10 years for the rights to Victorian thoroughbred racing, while the Seven deal would cost money in production, but gets racing on free-to-air television (via one of Seven's digital channels) and then the industry can reap the rewards from advertising revenue. As Moodie rightly contends, it is a decision that is likely to have huge ramifications for the Victorian industry over the next 10-20 years. "We're talking here about the 10-20 years of where this industry is heading – it's not simply just about dollars," Moodie told RSNs Shane Anderson. "There's a gap between what the industry would receive from Tabcorp and what the industry would have to put in to do the Seven deal but the debate really boils down to the future of the industry. "It's all about the customer engagement, the customer acquisition, it's all about growing wagering. If you get racing on free-to-air 365 days, what does it do to wagering?" He added, It's going to involve more eyeballs, it's going to involve more engagement, it's going to drive more participation. It's going to lift the profile of the industry, particularly if there's cross-promotion on Seven. It's going to make it a far more sustainable industry for everybody – that's what has to get weighed up. It's a concept, it's breaking new ground – to say it's a bird in hand versus this grand concept of reinventing vision is probably going a little bit too far, but it's a very big decision." Moodie concluded, "It will come to a conclusion but we, as a collective industry in this state, have a chance here to do something positive and ground-breaking and get it right."