Horse racing is definitely not as popular as it was way back in its prime, and there are many different factors that led to this. First of all the entertainment industry itself has significantly evolved, and young people have so many different hobbies because of that. Second, the culture nowadays is more focused on empathy, compassion and understanding, so it is quite easy to convince young people how participating in horse racing means you are supporting animal cruelty.
Even though the popularity of horse racing is in decline, there are still things that can be done to stop it from going downwards, and even make it more interesting than it is today.
Identify weak points
First and foremost, it is important to know which marketing strategies you should use, and why the current approach is not as effective as expected. For example, the new generation loves to be a part of a popular trend, while at the same time they get to preserve their unique spark. In other words, you need to get them excited about horse racing and explain to them how this would be a medium to channel their inner persona.
A good way to get them on board is to get young people to be your brand ambassadors, turning horse racing into a more trending sport. Moreover, horse tack should be more stylish and have more custom made options. Online horse breeding games are so popular because of these customization options and young people love to play them.
Make it more about horses and less about winning
Younger generations really love animals, and they are not really keen on a too competitive environment. Modern slogans are all about feeling good about who you are, embracing your true self, and not letting the society get you down.
To get a new wave of excitement for horse racing, it would be wise to focus on the aspects that have to do with spending time and bonding with a noble animal. Also, the prizes for winning should include items and food for a horse that way it won’t look like someone is exploiting an animal for a personal gain.
Address common misconceptions
Finally, horse racing is mischaracterized as a sport where the horse owners are only in it for the money. Moreover, it is believed that a horse that loses or sustains an injury is just a useless tool and the owners just put it down or send it to the slaughterhouse. Lastly, it is believed that a great deal of racing horses is addicted to steroids.
New generations need to realize that a Thoroughbred or a racing horse can cost $70,000 on average, and training costs are just as high. Almost 65% of the horses that race will earn less than $10,000 and around 3% of the racing horses will earn up to $100,000 which barely covers the purchase price and training expenses. In other words, there are far more lucrative investments for people who are just in it for the money. Furthermore, there is no good reason for the owners to put down their horse after an injury, considering how much they invested, and younger generations should be made aware of these facts.