Tabcorp will reportedly soon make a $100 million bid for the Melbourne Cup domestic and global broadcasting rights.
Network Ten’s contract expires next year and reports say Tabcorp is currently negotiating with Victoria Racing Club and it is looking to get the distributor rights in Australia and globally for “the race that stops the nation.”
Tabcorp Owned the International Broadcasting Rights from 2020-22
The Melbourne Cup is watched by 700 million people, broadcast in 120 countries and has a prize pool of about $6 million.
Even though viewership figures dropped last year, something for which Network Ten received heavy criticism, the distributor rights for the Melbourne Cup are still a big thing for the company that obtains them.
Tabcorp used to own the Melbourne Cup international broadcasting rights from 2020 to 2022 via Sky Racing and distributed the event in 68 countries.
The company relied on its network of international betting partners and made the most of US-based Sky Racing World too.
Tabcorp’s Australian Roots Matter
If Tabcorp, gets the rights, it will probably issue free-to-air sub-licenses to Network Ten, Seven West Media and Nine Entertainment.
The betting group owns three radio stations and two broadcasting companies.
Tabcorp chief executive Adam Rytenskild was excited about the prospect of getting the distributor rights and expanding the Victoria Racing Club partnership.
Rytenskild underscored the importance of the club striking a partnership with an Australian company.
Tabcorp already owns the naming rights of the Champion Stakes Day.