P1 Chief Highlights Economic Investment Benefits of Growing Race Series
May 6, 2015
P1 chief executive James Durbin (pictured) will tell guests at the launch of its UK season at London’s Royal Docks on Friday that the planned twenty international race events for the coming twelve months are set to generate an economic and media impact totalling more than $75 million.
This figure reflects the importance of venue and broadcast partnerships within the P1 business model and the effectiveness of its sports and entertainment mix in the sports tourism arena.
The world’s biggest marine motorsport brand has already kicked off its USA race season, ailment with last month’s Daytona Beach Grand Prix of the Sea attracting a record ninety jet ski riders and being broadcast live on Fox Sports.
Its expanding international programme of powerboat and jet ski racing now includes events in Europe, North America and South East Asia.
“The growth of P1, as it develops into a genuine global motorsport, involves delivering high calibre events that generate significant levels of inward economic investment at host venues, together with the commercial platform created for sponsors, partners and the wider marine industry” explains Durbin.
“We use our sports tourism knowledge and experience – acquired over the last 12 years through staging well over 200 races in 17 countries on 3 continents – to design and activate our race events to enhance the profile of the venue, drive visitor numbers and increase the length of stay, and stimulate the local and regional economy.”
At the heart of the P1 proposition are the event experience and infrastructure, with a strategy focused on achieving tangible economic, social and environmental results.
Media and broadcast relationships play a key role in building international presence and in delivering exposure for race venues and commercial partners.
“We work closely with the host venues and their specialist teams to identify and understand their specific needs and objectives and to then create comprehensive, integrated marketing plans that are tailor-made to the location” says Durbin.
This summer in the UK more than 150,000 spectators will enjoy the P1 racing, and all the action from the five championship rounds will be shown on Sky Sports and Motors TV, together with a host of international broadcasters including Fox Sports, Star Sports and Ten Sports.
“P1 has enjoyed significant growth in year-on-year attendances, digital media and TV audiences, and increased TV content and worldwide distribution are powerful drivers in addressing venue objectives of brand-build, business stimulus and tourism growth” concludes Durbin.