Like other sports, horse racing must gain a critical mass in the millennial generation to perpetuate itself. Millennials were born between 1981 and 1997, so in 2015 they range in age from 18 to 34. This generation now comprises the largest share of the American workforce.
The ideal way to develop horse racing fans is for a parent or other family member to cultivate the interest in children, perhaps in the beginning by watching races together on television and later by taking the boy or girl to the racetrack when they are old enough. However, this leaves out the vast majority of young people whose family members are not fans of horse racing.
Social media is the next best way to foster interest among millennials, and there are many choices such as Twitter and Instagram. Snapchat may be the superior option.
According to Snapchat, there are almost 100 million daily active Snapchatters and the user base is growing. Thirty-seven percent of Snapchatters are 18-24 year-olds and 23% are 25-34 year olds. Sixty percent of the people who use Snapchat create content every day. More than three-fifths of 13-34 year-old smartphone users in the United States are Snapchatters.
The Los Angeles Times wrote in a September 22, 2015 article: “If the future of media is distributing content across numerous digital apps, media executives see Snapchat at the forefront, thanks to its engaged audience of young people. ‘If you throw mobile, video, millennials and explosive growth together, people would be crazy not to focus on it,’ says an executive.
Getting in isn’t easy. The courting period lasts months and usually involves submitting numerous examples of original content to a private content management system.”
Though one would not ordinarily associate a Wall Street bank like Goldman Sachs Group with Snapchat, the firm has recently turned to the company for help in interesting millennials in working at Goldman. Last week, Goldman Sachs placed recruiting advertisements on Snapchat meant to lure potential hires.
Snapchat is made to order for the social-media efforts of racetracks and other pari-mutuel companies, as well as the Jockey Club, that are intended to promote American horse racing to younger segments of the population.
Copyright © 2015 Horse Racing Business