LOUISVILLE, Ky. (WDRB) -- The Kentucky Derby is one of the most watched sporting events in the U.S., attracts high-dollar sponsors like Woodford Reserve bourbon and garners hundreds of millions of dollars in wagers.
Yet, most of the money Churchill Downs will rake in this week won't come from TV, sponsorships or $2 exacta boxes. It will instead come from the tickets purchased by attendees, from the $130 infield denizens to the suite-dwellers with all-inclusive food and beverage packages.
More than half of Churchill Downs' revenue during Derby Week comes from "ticketing," the company tells investors. That helps explain why Churchill Downs has spent heavily, year after year, to add seats and "differentiated" experiences at the track, such as the renovated Paddock on display this year.
"We couldn't be happier about where we are with respect to customer interest at all price points, whether you're talking about the infield or our most expensive tickets," CEO Bill Carstanjen said on the company's earnings call in February. "We wish we had more to sell than we have."
Since flesh-and-blood attendees at the track still provide the majority of the revenue for the Derby, Churchill Downs has gleaned some interesting tidbits about them and shared that information with its investors.
Here's a breakdown of that information, along with the best-available comparative data I could find from public sources:
Kentucky Derby 150 Coverage:
- LMPD releases interstate, street closings and no parking zones for Kentucky Oaks, Derby
- Bigger and bolder fashion is in for Kentucky Derby 150
- Top Kentucky Derby 150 contender Fierceness makes debut at Churchill Downs
- Churchill Downs reveals $200 million paddock expansion project ahead of Kentucky Derby 150
