RMG payments to racecourse shareholders total £113 million despite group facing 'significant challenges'

Tracks who are shareholders in Racecourse Media Group (RMG) received payments totalling £113 million generated from their media and data rights in 2024, with the company saying it had proved resilient in the face of "significant challenges", including affordability checks.

The figure represents a fall of less than one per cent on the £113.9m paid out in 2023, which was down from a record £117.6m the previous year and £10m less than what the company would have ordinarily expected.

RMG said its performance had demonstrated "resilience" in the face of headwinds which also included the wider economic environment, shifts in racecourse rights and increasing competition from other sports. 

The company's 37 shareholder courses include those under the Jockey Club banner, as well as major independents York and Goodwood.

Rights payments to courses made by RMG are derived from a number of sources, including betting shops, online bookmaker digital streams, international betting, Racing TV, the agreement with ITV, and data through Racecourse Data Company.

RMG chair Conor Grant said: "Growth in our streaming business and robust performance in LBO [licensed betting offices], combined with product innovation for customers, plus new and enhanced domestic and international partnerships, enabled RMG to deliver a strong performance in a challenging environment. 

“RMG remains at the forefront of media and data rights for British and Irish racing and I want to thank our valued racecourses for entrusting us with those rights."

Grant also thanked former chief executive Martin Stevenson, who stepped down towards the end of 2024, for his contribution to RMG and welcomed his successor Nick Mills.

Mills said RMG was looking to identify new opportunities, such as in-play betting, bet builders and self-service betting terminals, and that the company was in the "enviable position" to show top-class British and all Irish racing thanks to its partnership with Horse Racing Ireland and the Association of Irish Racecourses.

He added: "RMG remains committed to increasing returns for racecourses and shaping a thriving future for the sport, and we look forward to working closely with all stakeholders to achieve this in 2025 and beyond."

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