‘Sponsors won’t get behind it:’ Why the Melbourne Cup will be ‘gone within a decade’
On the latest episode of the Mumbrellacast, the Mumbrella team look at this year’s Melbourne Cup and discuss why the race that stops the nation could be scratched altogether soon.
As revealed this week, 1.1 million viewers in the capital cities tuned in to the Cup on Tuesday (1.68 million nationally), just above the 1.02 million that watched last year – the lowest viewership on record. 2023 also marked the final year of Ten’s five-year partnership broadcasting the event meaning the 2024 Melbourne Cup is currently without a home.
Adding to this, major fashion sponsor of nearly 40 years, Myer, also cut ties with the Cup earlier this year.
More pressure will also come on TV networks particularly just days after SBS announced an opt out option for gambling ads on its SBS On Demand platform, a move widely praised by industry stakeholders.
When you put all of these obstacles together, Mumbrella deputy editor, Nathan Jolly, said he believes the Melbourne Cup can’t last.
“I would say it’s going be gone within a decade, and the reason will be money,” Jolly said.
“Sponsors won’t want to get behind it. Gambling advertising by that time will be banned on TV, I’m quite sure. They’re going pretty hard after it at the moment. And I just think the times are changing.”
Mumbrella publisher, Adam Lang, said the future of the Melbourne Cup may need to rely more heavily on other areas of the event outside of horse racing and gambling as, “there’s always a place for strong brands”.
“If you look at a casino model, there is so much that’s great around a casino and yes, they’re trying to get people to gamble more, but you’ve got excellent theatres, excellent restaurants, excellent retail, excellent venues, hotels,” he said.
“There’s so much that can be good around it. It doesn’t have to be just about the race.”
The crowds however did return to Flemington on Tuesday, following last year’s weather wash-out. 84,492 people went through the gates yesterday, a 14.5% jump from last year’s crowd of 73,816, and the biggest crowd since 2017.
Listen to the full Mumbrellacast here.
