Sport

The topic that has being selected for this research is NASCAR markets new production space. NASCAR is the abbreviation of National Association for Stock Car Auto Racing, NASCAR is a family operated business that conducts and provides sanctions for auto racing events throughout the globe. NASCAR has also a media group called the NASCAR Media Group which is a subsidiary of NASCAR. It is a television production company, which produces programs which help to promote professional stock car auto racing throughout the globe.  

NASCAR Markets New Production Space
NASCAR has introduced a new 43 million facility within the NASCAR plaza which is situated in Charlotte, North Carolina, United States of America. This media group is famous for making and managing broadcasts agreements. The plaza has four floors of studios and space and it provides a limitless supply of digital archives. All this space is available in the new building which has been built by NASCAR to increase its production, and lets not forget the new building has the Hall of Fame of NASCAR as well. at the moment only some space of the studio is being used by the production company as it is settling in the new building, hence it has been decided by NASCAR Media Group to provide the space and the ancillary services to their potential clients and customer who belong to the motorsports and to those customer who dont belong to the motorsports as well. (Smith, 2010)

The equipment that is being brought in and is being used by NASCAR Media Group is going to provide them with the opportunity to create their own network and promote itself if they want to, but it has not yet been decided and it will not be decided until the year 2014.

The NASCAR Media Group has decided to wait until current broadcast agreements are up before they decide to take a step towards that direction. Until that time arrives the group has to find new ways to use the space (i.e. three studios and 28 post production rooms) that is available to them and as well as other assets that they have built with this new facility like the archives and the satellite services.

Some of the clients are already availing this opportunity by using the services (like the digital archive) that have been provided by the NASCAR Media Group are The Atlantic Coast Conference, University of South Carolina and Charlotte  based Raycom Sports. NASCAR Media Group has also decided to sell its satellite services as well and they are doing this with the help of Crawford Communications, which is an Atlanta based broadcasting company in US. For example, the services that the company is offering like the archive system are based on hour of footage that is being stored. (Smith, 2010)

For example, one of the clients of NASCAR Media Group is South Carolina who needs the space to store its footage, because they have boxes upon boxes of old games tapes, coach shows and behind the secene footages, hence an agreement was struck up between South Carolina and NASCAR Media Group that NASCAR is going to store the footages of the university and the university is going to pay the fee and the content that is going to be preserved by the media group will have no rights to it in the future.  

I believe that it is a good opportunity for the NASCAR Media Group, because this is going to help them to become diverse in their revenues. And this way they will be able to make more money rather than let this empty space go to waste until they decide that whether or not they want to create their own network system or not. This is a good opportunity for the NASCAR Media Group to tread into new markets and able to create their position in that market.

This is one of the ways through which the NASCAR Media Group will be able to promote itself and with the help of the new building the media group will be able to build a strong and a healthy relationship with its potential clients in and outside of motorsport like the Atlantic Coast Conference, University of South Carolina and Charlotte  based Raycom Sports.

Lending out their digital archives and satellite services will bring the NASCAR Media Groups clients more closer to the company and the media group will be able to understand the needs and wants of their potential clients. And the fee money that is going to be brought in by these opportunities will help the company to remain focus on their core business, which is NASCAR and NASCAR content. Even though this new money is only a small part of the NASCAR revenue, still it comes with high profit margins because the services that are being provided by the company are not that labor intensive and the equipment was already in set in its place, therefore there was no work to be done.