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Old 12-08-2010, 07:40 PM
 
Location: Washington DC
4,107 posts, read 3,559,369 times
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Quote:
[LEFT]With just under $950,000 in revenue during October, the hall of fame generated a $40,000 surplus — a vast improvement over the $259,000 loss in September. Still, it fell short of the visitors authority’s projected $255,000 surplus for October. For the current fiscal year, which began July 1 and ends June 30, the hall of fame’s deficit is $409,000, compared with an anticipated surplus of $1.1 million through the first four months.

Read more: NASCAR Hall of Fame profitable in October | Charlotte Business Journal
[/LEFT]

Quote:
[LEFT]Disappointing ticket sales and revenue recently prompted Charlotte City Council and the visitors authority board to begin an overhaul of the much-hyped tourism project. The venue opened in May and has yet to meet expectations. Later this month, the visitors authority expects to vote on potential cuts of up to 20% of the hall's $15.2 million operating budget.

Read more: NASCAR Hall of Fame profitable in October | Charlotte Business Journal
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It's good that the Nascar Hall of Fame had a profitable month, but I hope it's not just from the race that dragged in a lot of people.


It's worth noting that 20% of the operating budget will be cut so hopefully that will translate to profits.


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Old 12-08-2010, 08:15 PM
 
Location: Up above the world so high!
45,269 posts, read 89,876,609 times
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Quote:
Originally Posted by GayCharlotteGuy View Post
It's good that the Nascar Hall of Fame had a profitable month, but I hope it's not just from the race that dragged in a lot of people.


It's worth noting that 20% of the operating budget will be cut so hopefully that will translate to profits.



What a shame it had to open during the recession. In better times I think the place would be booming with business.

It really is true, in life timing is everything.
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Old 12-09-2010, 06:43 AM
 
Location: location, location!
1,916 posts, read 1,764,035 times
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Quote:
Originally Posted by GayCharlotteGuy View Post
It's good that the Nascar Hall of Fame had a profitable month, but I hope it's not just from the race. . .
Of course it's from the race crowd. If the Hall can't make a profit in May and October, when the NASCAR fans are in town, then they might as well close it down now.
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Old 12-09-2010, 08:42 AM
 
Location: Charlotte, N.C. area
448 posts, read 695,112 times
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Originally Posted by lovesMountains View Post
What a shame it had to open during the recession. In better times I think the place would be booming with business.

It really is true, in life timing is everything.
I'm not so sure about that.

I think the hall was built after NASCAR peaked and it would have still been a disappointment even without the recession. True that the recession has hurt it but I if you really look at NASCAR as a whole, its popularity has diminished and continues to do so.

I am hoping to see this turn around but I am not very optimistic about it right now.
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Old 12-09-2010, 09:49 AM
 
Location: Up above the world so high!
45,269 posts, read 89,876,609 times
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Originally Posted by RoadTraveler View Post
I'm not so sure about that.

I think the hall was built after NASCAR peaked and it would have still been a disappointment even without the recession. True that the recession has hurt it but I if you really look at NASCAR as a whole, its popularity has diminished and continues to do so.

I am hoping to see this turn around but I am not very optimistic about it right now.
Nascar, peaked? You're kidding right? Nascar has more fans than the NFL. The problem is truly the economy. Many people just can not afford to travel to the races right now. Gas costs, expensive air fares, hotel rooms - these have all become luxury items many average fans just had to give up.

Last edited by lovesMountains; 12-09-2010 at 09:59 AM.. Reason: misspellings
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Old 12-09-2010, 10:08 AM
 
3,115 posts, read 6,245,564 times
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Originally Posted by lovesMountains View Post
Nascar, peaked? You're kidding right? Nascar has more fans than the NFL. The problem is truly the economy. Many people just can not afford to travel to the races right now. Gas costs, expensive air fares, hotel rooms - these have all become luxury items many average fans just had to give up.
I definitely agree that the economy has a lot to do with race attendance, but how do you explain the giant slips in tv viewership for races? I know that viewers have dropped dramatically, and you don't have to pay to sit on your couch and watch.

I'm not sure anyone can say whether the museum would have been successful had the recession not occurred. My thinking is that it would still struggle after a more robust opening, b/c it's not the type of thing people are apt to pay for more than one time. Disclaimer: I'm definitely NOT a Nascar fan. My opinion could be fouled!
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Old 12-09-2010, 10:24 AM
 
Location: Charlotte, N.C. area
448 posts, read 695,112 times
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Originally Posted by lovesMountains View Post
Nascar, peaked? You're kidding right? Nascar has more fans than the NFL.

No, not kidding!

So what if they have more fans than the NFL. I don't know if they really do or not but that is immaterial. I DO know they have lost a lot of long time fans over the last 5 years or so as well as those trendy folks that jump on the latest fad and don't stay very long with anything.

I work in the sport and I get to talk to a lot of present and past fans.
I can tell you that NASCAR HAS peaked.

Whether you care to believe it or not is up to you.
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Old 12-09-2010, 10:40 AM
 
Location: Up above the world so high!
45,269 posts, read 89,876,609 times
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Quote:
Originally Posted by RoadTraveler View Post
No, not kidding!

So what if they have more fans than the NFL. I don't know if they really do or not but that is immaterial. I DO know they have lost a lot of long time fans over the last 5 years or so as well as those trendy folks that jump on the latest fad and don't stay very long with anything.

I work in the sport and I get to talk to a lot of present and past fans.
I can tell you that NASCAR HAS peaked.

Whether you care to believe it or not is up to you.
I believe it may have peaked as at "trendy" thing to do among those not from the south

But the hardcore fan base will always be there - it's a way of life for too many people.
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Old 12-09-2010, 11:21 AM
 
2,603 posts, read 4,354,231 times
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Originally Posted by lovesMountains View Post
I believe it may have peaked as at "trendy" thing to do among those not from the south

But the hardcore fan base will always be there - it's a way of life for too many people.
NASCAR attendance and viewership has been in decline since 2005. The trend seekers are what made the activity so much more profitable in the 1990s and early 2000s. I think once gas hit $3 a gallon, watching people turn left in traffic lost its appeal.

I do like having the Hall here because there is an interesting history behind the whole sport.

Action on track isn't helping NASCAR attendance, ratings - USATODAY.com
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Old 12-09-2010, 11:45 AM
 
Location: The place where the road & the sky collide
22,796 posts, read 28,191,497 times
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Quote:
Originally Posted by lovesMountains View Post
I believe it may have peaked as at "trendy" thing to do among those not from the south

But the hardcore fan base will always be there - it's a way of life for too many people.
I also think it's less trendy, but it's not just a southern base. One of my uncles was involved with NASCAR for many years in Colorado, New Mexico, & Arizona. Then there's Dover & Pocono, which draw, heavily, from the northern MidAtlantic &, of course, Watkins Glen in upstate NY.
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