IndyCar: Seeking a Return to Motorsports’ Fast Lane*

SYNOPSIS: Auto racing has experienced a steady decline for more than a decade. After years of damaging competition, the Indy Racing League and Champ Car (CART) reunified, leading to new sponsors, new business opportunities, and a new television contract. Despite the resurgence, the league remains a distant competitor to NASCAR in terms of popularity in the motorsports market. IndyCar must address this issue and several other concerns in order to strengthen its standing in the American motor-sports market and build connections with new fans and sponsors.

THEMES: Competition, market segmentation, product and branding strategy, sports and event marketing, sponsorship, global marketing, corporate governance, marketing implementation

The origins of IndyCar can be traced back to the formation of Championship Auto Racing Teams (CART) in 1978. Several automobile racing team owners created CART as a sanctioning body for open-wheel racing in the United States. Open-wheel racing refers to cars whose wheels are located outside the body of the car rather than underneath the body or fenders as found on streetcars. They have an open cockpit, also called a pod, with the engine housed at the rear of the vehicle. The United States Auto Club (USAC) had sanctioned the sport since the mid-1950s, but many racing teams were dissatisfied with USAC’s administration and promotion of open-wheel racing. Consequently, CART was founded when 18 of the 21 team owners left USAC to form the new league.

C11.1 THE EARLY HISTORY OF U.S. OPEN-WHEEL RACING
During the first 17 years of its existence, CART dominated auto racing in the United States, and open-wheel racing enjoyed greater notoriety than other forms of racing, including stock car racing. However, Anton H. “Tony” George, the president of the Indianapolis Motor Speedway, was concerned that CART was beginning to lose sight of the interests of American open-wheel racing by holding events in foreign countries, putting too much emphasis on racing at road courses in-stead of oval tracks, and focusing too much on promoting top foreign drivers as CART stars. In the early to mid-90s, George announced that he was creating a new open-wheel league that would compete with CART called the Indy Racing League (IRL), the forerunner to today’s IndyCar. The new league was divisive to open-wheel racing in the United States, as team owners were forced to decide whether to remain with CART or move to the new IRL. Only IRL members would be allowed to race in the Indianapolis 500. 

The IRL–CART feud, which also involved lawsuits in court, distracted both leagues and stock car racing (i.e., NASCAR) solidified its standing as the favorite motor sport in the United States. The diminished appeal of open-wheel racing contributed to additional problems with sponsor relationships. Major partners left CART, including Honda, Toyota, and FedEx. During the same time, the IRL struggled to find corporate partners. Interest in IRL as measured by television ratings took a noticeable dip in the early 2000s. The declining television audience was a factor in the IRL’s inability to sell naming rights for its series from 2002 through 2009. In contrast, NASCAR (National Association of Stock Car Auto Racing) signed a blockbuster deal with Nextel that called for more than $700 million over a 10 year period. Industry experts believed that the most the IRL could command for its title sponsorship as long as it competed with CART was about $50 million over 10 years. However, CART went bankrupt in 2003 and was renamed the Champ Car World Series after a buyout. 

In response to declining interest in the IRL, marketing initiatives were taken to reverse the trend. The league didn’t establish a dedicated marketing staff until 2001. In 2005 the IRL launched a new ad campaign that targeted 18-to 34-year-old males. Instead of focusing on the cutting-edge technology found in IRL cars, as had been done in previous ad campaigns, the focus shifted to drivers and the drama created on the track. In support of this effort, two developments can be noted. First, the IRL followed a trend observed in NASCAR and got several celebrities involved in the sport through team ownership. Also, rock star Gene Simmons, a partner in Simmons Abramson Marketing, was hired to help the IRL devise new marketing strategies. The firm’s entertainment marketing savvy was tapped to help the IRL connect with fans on an emotional level through its drivers, whom Simmons referred to as “rock stars in rocket ships.” Second, driver personalities began to give the IRL some visibility. In 2005, Danica Patrick was a 23-year-old IRL rookie who finished fourth in the Indianapolis 500. Soon after, Patrick placed first in the Indy Japan 300 to become the only woman with a win in an IndyCar Series race. The combination of the novelty of a female driver and her captivating personality made her the darling of American sports. The IRL reported gains in event attendance, merchandise sales, website traffic, and television ratings during Patrick’s rookie season. Patrick attracted the interest of many companies that hired her as a product endorser, including Motorola, GoDaddy, Boost Mobile, and XM Radio.

C11.2 MOTORSPORTS COMPETITION
Although many forms of motorsports exist, competition for IndyCar can be narrowed to two properties: Formula 1 and NASCAR.

C11.2a Formula 1
Formula 1 is an open-wheel series that has the greatest global reach in terms of race venues and races exclusively on road courses. A Formula 1 race is known as a Grand Prix, with each race taking on the name of the country hosting a particular race (e.g., Grand Prix of Spain). Grand Prix races have been held in countries including Austria, Bahrain, Belgium, Brazil, Canada, China, Hungary, Italy, Mexico, Russia, Spain, the United Arab Emirates, the United Kingdom, the United States, and Vietnam. Formula 1 was the first racing league in the Western hemisphere to stage an event in the lucrative Chinese market. Most Formula 1 drivers hail from European countries, although there are also drivers from Australia, Canada, Thailand, Russia, Mexico, and Brazil. The winner of the Formula 1 season series is referred to as the “Formula 1 World Driver Champion,” further reinforcing Formula 1 as a global racing league.

C11.2b NASCAR
The clear leader in the U.S. motorsports market is NASCAR. It was founded in the early 1950s, approximately the same time period when USAC was founded. NASCAR has four major national racing series, including the Cup Series, Xfinity Series, Gander RV & Outdoor Truck Series, and the ARCA Menards Series. The Cup Series is NASCAR’s premier circuit. Its 36 races are held primarily on oval tracks and exclusively in U.S. markets. Like IndyCar, NASCAR has a strong regional following, with the southeast United States being a long-time hotbed for the league. NASCAR was predominantly a southern U.S. sport until the 1990s as exposure provided by cable television and the emergence of strong driver personalities such as Dale Earnhardt and Jeff Gordon led to an explosion in NASCAR’s popularity. The league became even more popular as it focused on marketing drivers, especially young drivers often referred to as NASCAR’s “Young Guns.” 

As a result of NASCAR’s popularity growth, it was able to negotiate a lucrative, multibillion-dollar contract with Fox and ESPN. Today, NASCAR towers over IndyCar in the United States in terms of sponsor support and audiences. NASCAR has sought to expand to become a truly national sport, adding races in Chicago, southern California, and Texas while eliminating races in smaller markets such as Rockingham, North Carolina. Potential expansion plans include tracks in Texas, the Pacific Northwest, Iowa, Wisconsin, and Tennessee.

C11.3 REUNIFICATION
Many racing observers believe that open-wheel racing could have been as popular as NASCAR is today. In the 1980s and early 1990s, it was CART that enjoyed greater popularity and television ratings. The split in open-wheel racing that led to the formation of the IRL was a setback to open-wheel racing in general. The split resulted in a dilution of competition quality, sponsor dollars, and fan support. Many experts believed a reunification of open-wheel racing was the only way to compete against NASCAR. The long-awaited reunification of U.S. open-wheel racing occurred before the beginning of the 2008 season. The same year Patrick placed first in the Indy Japan 300, Champ Car World Series—CART’s successor—filed for bankruptcy. Tony George’s IRL bought the assets of Champ Car for a mere $10 million and provided a $30 million capital investment for equipment and incentives to bring Champ Car teams into the IRL fold. 

After reunification, the IRL rebranded as IndyCar, and its reunified open-wheel racing circuit was branded the IndyCar Series. Decisions had to be made about the markets and racing courses that the IndyCar Series would target following the merger of Champ Car and IRL. Fast forward to 2020, and the IndyCar schedule included 17 races, which is less than half the number (41) of NASCAR Sprint Cup Series races. One change has been an increase in the number of street and road course races. The IndyCar Series added street races in markets that had been very successful for CART/Champ Car and now make up the majority of the races. In contrast, only two of the 36 races in the NASCAR Sprint Cup Series are held on road courses. This characteristic of IndyCar’s schedule is drastically different than the product of the old IRL, which ran on oval tracks exclusively between 1996 and 2008. The 2020 schedule initially included 22 races, an increase from the previous year; however, the global pandemic resulting from COVID-19 severely shortened the season. 

In addition to the influence of Champ Car’s strategy of more street courses, another feature of
Champ Car that IndyCar sought to leverage was the positioning of races as entertainment events. The race itself is only one piece of the product. Champ Car used the term “Festival of Speed” to position its events. In addition to the race, fans can often partake in such activities as kids’ zones, beach volleyball, wine tasting, or live concerts. The festival concept has been a success. Street races in Long Beach and Toronto annually draw more than 150,000 people over the course of a three-day race schedule. 

Another positive development for the IndyCar Series was the announcement of NBC as a tele-vision broadcast partner beginning in 2018. ABC televised the Indianapolis 500 for around half a century, but now NBC is the exclusive home for IndyCar. This change was huge for IndyCar’s exposure as it is now recognized in NBC’s “Championship Season” along with the Triple Crown, the Tour de France, and many other popular world sports events. This promotional support along with elevated TV ratings helped IndyCar keep its momentum in the effort to become the premier auto racing league. This partnership has already proven fruitful as the 2020 season-opening race was the most watched IndyCar race since 2016. Though the COVID-19 pandemic condensed the 2020 season and reduced in-person spectators, more viewers tuned in as they were eager to view live sports. NBC and IndyCar could see a continuation of this increased viewership over the long term.

C11.4 STEPS FORWARD, BACKWARD
Both optimism and uncertainty existed as IndyCar moved beyond reunification. A primary concern for IndyCar following reunification was top leadership. Tony George resigned his top positions with both IndyCar and the Indianapolis Motor Speedway in July 2009. His role in causing the split in open-wheel racing was never forgotten, and many people within the industry believed a reunified league would benefit from a new leader. In 2010 Randy Bernard joined IndyCar as CEO following a highly successful tenure leading Professional Bull Riders (PBR). Bernard created excitement around PBR events and marketed riders’ personalities. He had similar priorities for IndyCar. Bernard wanted to raise the profile of IndyCar drivers, to make them “bigger than life.” More elaborate driver introductions were produced at races to spotlight drivers, and the league invested in an office responsible for placing IndyCar and drivers in television and movies. Ber-nard’s commitment to marketing was apparent in the successes IndyCar had signing new sponsors and moving into new markets in the United States (Baltimore) as well as Brazil and China. Despite his successes, after 3 years at the helm Bernard stepped down as CEO amid rumors of conflicts with team owners. During his tenure, Bernard had to deal with the fallback that came when two-time Indianapolis 500 winner Dan Wheldon died in a crash in 2011. However, his resignation was heavily criticized by fans and racing owner Roger Penske, who supported Bernard’s efforts at revitalizing the sport. The next few years introduced marketing challenges for IndyCar. The marketing strategy appeared to be inconsistent, and IndyCar’s deal with VERSUS (now called NBCSN) was criticized because it was viewed as being less visible than ESPN. 

In 2013 Mark Miles, former president of the ATP tennis tour, assumed the role of CEO. One of
Miles’s plans was to expand IndyCar globally, increasing its presence in major international events starting in 2015. Miles was able to secure $100 million in tax revenue to restore the Indianapolis Motor Speedway over a 20-year period. He added more races to the schedule and secured a new title sponsor, Japanese telecom company NTT, to replace Verizon. In 2018, Miles was vital in beginning its three-year deal with NBC, which boosted race viewership. Miles brought stability and promise to the sport when at times it seemed as if it would fail. With some of the big hurdles such as title sponsorship out of the way, Miles has announced the organization will commit more time to marketing driver development. Miles also gained the confidence and support from the league’s team owners such as Michael Andretti, who claims this is the best spot the league has been in since he has been involved with the sport. 

The global COVID-19 pandemic in 2020 challenged IndyCar in many ways. Revenue is earned through ticket sales, sponsorships, and TV revenue, and drivers bring in funds through sponsor-ships. Drivers with good reputations spend much time selling their car, suit, and helmet for advertising space. Drivers earn their salaries thanks to these sponsorships. With restricted in-person attendance in 2020 and a shortened season, there was significantly less revenue. There were limited ticket sales, but TV viewership increased because there were significantly fewer sports events to watch on TV. On the bright side, Roger Penske purchased the Indy racing league and Indy 500 racetrack. Penske was in a strong financial position to support IndyCar. The Indy 500 remains the most famous race in the world and a crown jewel for the sport going forward. Penske’s renovations at the track set the stage for a 2021 recovery.

C11.5 NEW BUSINESS OPPORTUNITIES
Optimism also exists in new business opportunities. For instance, IndyCar has made important gains in sponsorships. A partnership with Mattel brought Hot Wheels branded IndyCars to retail stores and IndyCar Series events, promoting drivers and the Series schedule by including it on product packaging. Sponsors were happy to see that their money is going to good use. The IndyCar races featured on NBC saw an average rating increase of 34 percent in viewership from the year before. Current sponsors include NTT, Chevrolet, Honda, Firestone, Pennzoil, Sirius XM, Tag Heuer, Netjets, Verizon, and several others. 

In 2019, IndyCar announced that it had found a new title sponsor in global information and communications company NTT, as the deal with Verizon came to an end in December of that year. Aligning with the goals of Miles, NTT is attempting to grow the sport by modern marketing tactics such as the new mobile app and a Smart Platform to enhance the fan experience. This multiyear deal looks extremely hopeful as it should attract younger and digitally inclined people to the sport. NTT also happens to be the current primary sponsor of the Ganassi #10 car. 

Another factor coming into play with IndyCar’s global reach is talks between the company and
Ferrari to become a possible third manufacturer for the sport. Due to budget cuts coming from Formula 1, Ferrari is looking for ways to spend the money resulting from the savings. Adding IndyCar to their racing portfolio could save the company from massive layoffs, so there have been discussions regarding their entrance to the sport with Ferrari showing public interest. If they joined as a manufacturer, they would become one of three manufacturers for the sport, the other two being Honda and Chevrolet. 

Another step forward for IndyCar is increasing its presence beyond tracks and race broadcasts.
IndyCar was prominently featured in the DreamWorks movie Turbo, a story of a snail that dreams of being fast enough to win the Indianapolis 500. The movie featured the Indianapolis Motor Speedway as well as several IndyCar teams, drivers, and sponsors. Also, a weekly television series INDYCAR 36 follows a driver at the track and away from it over a 36-hour period that gives fans a more intimate view of some of the personalities of IndyCar. 

After a lengthy tenure as owners for 74 years, the Hulman family finally sold both the IndyCar
Series and the Indianapolis Motor Speedway to Roger Penske, as discussed earlier in this case. Penske, the most successful team owner in the history of the Indy 500, intends to build the Indy-Car sport in the same way as Miles would like to. However, with his company now owning the series his team competes in, a conflict of interest may be called into question. Penske has assured other owners and fans that he understands the integrity and hopes his long-standing credibility outweighs the concern. Miles stepped into the position as CEO of Penske Entertainment Corp., so he remains in the same position as before the purchase.

C11.6 FAN ENGAGEMENT
Along with looking for new marketing initiatives, IndyCar is heavily invested in trying to engage more closely with the fans the sport already has. The new partnership with NTT Corporation has given IndyCar many different avenues with which to increase the fan experience. The most obvious is with technology. IndyCar has taken advantage of smart technologies to enhance the experience, safety, and convenience for each fan’s trip to the racetrack. NTT brought together an Accelerate Smart platform that grants fans with a wide array of technological uses such as being able to track where cars are on the racetrack, see stats for each driver, and use a 100-foot media wall to have real-time insights to the race. With the Indy 500 being the world’s largest single-day sporting event, NTT is also focusing on different security measures it can provide to create a safe and worry-free experience for every attendee. 

Improving the fan experience has not been limited to efforts at the tracks. A redesign of the
IndyCar.com website connected fans with content on the league’s social media sites as well as the digital app that is available on all mobile devices for users. Users on the app can see live in-car cameras during races, track weather forecasts, watch highlights after races, and utilize many other features. IndyCar uses social networking to engage fans beyond providing news and information. An example is IndyCar partnering with Cie Games, a gaming company that created the Facebook game “Car Town.” IndyCar’s presence in “Car Town” included cars that players could buy and a pit-stop challenge with an Indianapolis 500 theme. IndyCar and Cie Games shared revenue from IndyCar-related purchases made by “Car Town” players. “Car Town” lasted for 4 years on Face-book and generated more than 7 million “likes.” 

Like NASCAR, IndyCar is challenged to get young people interested in the sport. Among the steps taken to target youth have been lowering the age to enter the garage area to as young as nine years old. Also, the Indianapolis Motor Speedway offered children 15 and under a free general admission ticket to the race with a paid adult ticket. Creating value by offering interactive, entertaining experiences at races at customer-friendly prices has potential strategic benefits for IndyCar. Michael Andretti, a former IRL driver and now IndyCar team owner, believes the cost advantage of attending IndyCar races compared to NASCAR gives the league an upper hand in a difficult economic environment.

C11.7 IRL’S CURRENT MARKETING STRATEGY
Despite the positive developments for IndyCar, the long-term future is unclear. One concern is the mix of racetracks and target markets. IndyCar’s recent focus on street racing, for example, could be a big win for the organization as a way to differentiate it from Formula 1 and NASCAR. IndyCar touts the mix of races as challenging to drivers, forcing them to master a variety of tracks in order to win the IndyCar season championship. Critics fear fewer oval tracks will take the IndyCar series away from its roots. With that fear, the 2020 pandemic cancellations could have a bad effect long-term on fans’ views of the season. Further, oval track racing is more popular with fans in the United States as evidenced by NASCAR’s popularity. Recently, IndyCar added two vet-eran executives who the league is hoping will boost the commercial side of IndyCar. SJ Luedtke, a former sports marketing executive at Nike, is the vice president of marketing. Mike Zizzo, a long-time executive in the motorsports industry, was retained by IndyCar as a communications consultant. 

With IndyCar’s deal with NTT, it has brought about many possibilities to grow the global reach of the sport. The 2019 season was shown in approximately 100 different countries as Indy-Car Media secured deals to broadcast content abroad. IndyCar also gained airtime on premium channels in both Canada and the United Kingdom. With foreign drivers and a growing foreign fan base, vice president of promoter and media partner relations Stephen Starks is hopeful these partnerships will allow the sport to flourish throughout the world.
Like all forms of auto racing, safety is a continuous issue for IndyCar. Racecar driving is a dangerous profession, and crashes are not uncommon. In 2011 at the season-ending race in Las Vegas, racecar driver Dan Wheldon was killed in a horrific crash just 11 laps into the race. His death called into question the safety of racing on oval tracks, which were built for stock car racing such as NASCAR. IndyCars reach speeds of more than 220 miles per hour, significantly faster than stock cars. Many people in the racing industry said that IndyCar should discontinue racing on ovals. Additionally, in 2015, Justin Wilson was tragically killed after being struck by a piece of debris from another racecar. This incident is another case highlighting the riskiness of having an open cockpit for the drivers. IndyCar worked on implementing safety measures to reduce the risk of fatal crashes. In 2019, IndyCar released a new phase of safety called the Advanced Frontal Protection, which is a piece of titanium in front of the cockpit that is designed to deflect debris away from the driver. This invention could have possibly saved Wilson’s life, and IndyCar hopes it will save dozens going forward.

C11.8 CONCLUSION
Auto racing has been the fastest growing spectator sport in the United States in recent years. While open-wheel racing experienced a period of decline for quite some time, it seems the sport has found new growth with new sponsors, restructuring, and a new owner. However, Formula 1 racing still appears to be very popular around the world, and IndyCar is a distant second to NASCAR in terms of popularity in the United States. While NASCAR focuses on the North American market, especially concentrated in the southeast, IndyCar is trying to become more global, which is supported by its international drivers. There is no doubt that these international drivers, if properly promoted, will develop a great deal of interest and support from race fans in their countries. An important challenge is to determine how global IndyCar should be and how to overcome some of the obstacles for international races that are sometimes canceled due to financial resource issues. Another marketing decision is how to deploy resources to promote this sport. For example, should more promotion create a following for specific drivers so fans will want to follow specific drivers in the races? IndyCar cannot succeed without finding the best marketing strategy for fan engagement that will trigger attendance and television viewership. 

IndyCar is optimistic about its future, especially as ratings and viewership have risen in recent years. The league must continue to strengthen its standing in the American motorsports market. With the two major open-wheel leagues reunified, IndyCar must reconnect with more fans and sponsors as well as build new relationships. And, it must ensure the safety of its greatest marketing asset—the IndyCar drivers.

QUESTIONS
1. Identify the external factors that have impacted and con-tinue to impact IndyCar and its marketing efforts. Which factors appear to be IndyCar’s greatest opportunities and threats?

2. What advantages does IndyCar possess over NASCAR? How should these advantages be used by IndyCar to com-pete with NASCAR?

3. What can IndyCar learn from NASCAR’s success? Are there elements of NASCAR’s marketing strategy that In-dyCar could adopt?

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