Horse Race Broadcasting
The Korea Racing Authority (KRA) recently said that it held an opening ceremony of the International Racing Broadcast Center, which began to broadcast live horse races.
Earlier in December 2013, the KRA signed an agreement with Singapore to export racing broadcasts and has expanded its market to several countries, in order to secure future a growth engine of Koran horse racing and improve the image of horse racing. The KRA exported horse racing broadcasts to France in 2014 and entered the Malaysian market last year, collecting a total of 38.7 billion won (US$34.6 million won) in global sales in 2015 alone.
The KRA expects to earn a total of 51.3 billion won (US$45.9 million) from live racing broadcasts this year and aims to increase overseas sales by 15 percent a year to achieve 100 billion won (US$89.4 million) in annual sales by 2020. In particular this year, the KRA has been stepping up its effort to expand the market, eventually signing a contract with Australia, a nation crazy about horse racing, to export horse races.
As the International Racing Broadcast Center has opened, all the horse racing broadcasts targeting foreign audiences are produced and delivered in accordance with international standards.
In addition, the broadcasts are delivered in English. All the contents related to horse racing, including introducing race horses, live horse racing and racing results, are aired in English.
“The International Racing Broadcast Center has a positive effect on the KRA’s export of horse racing broadcasts,” said a KRA official, adding, “We will do our best to lead Korean horse races to be enjoyed in foreign nations like Singapore and Australia.”