DRF RIP?

[Al Caught Up]

Lots of people apparently just got canned at DRF: Watchmaker, Hovdey, Matt Bernier, Byron King... Hard to keep newspapers of any sort going today, but hard to believe the Form seems on life support.

[bluechip21]

Not surprised. They didn’t do Belmont works last spring. Sold off all their book inventory at an 80% discount. That place is changing and it’s never been more apparent.

[FrankD.]

https://www.horseraceinsider.com/daily-racing-form-firings-confirmed/

[jma11473]

Awful for all the people losing their jobs, some great contributors too. However, no one can be surprised DRF has fallen on hard times. If you have a struggling industry, the media covering that industry will also lose business. That\'s why most boxing magazines now cover MMA, kickboxing, etc. to keep the lights on.

[richiebee]

....much like the way DRF, under Steve Crist, began to cover Poker tournaments...

I anticipate a leaner more efficient DRF under new ownership, with the first major change being the discontinuation of the print edition.

[BB]

richiebee Wrote:
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> I anticipate a leaner more efficient DRF under new
> ownership, with the first major change being the
> discontinuation of the print edition.

Not impossible, IMO, but I\'d be willing to bet against that.

Killing the print product doesn\'t mean you automatically convert those people into digital purchasers.Many people would simply switch to other printed Equibase-sourced products already available at tracks and OTB parlors. Look at how quickly CDI got into the \"racing form\" business when they balked at paying ransom to have CD included in the Eastern Edition of the DRF.

I do agree that \"leaner and more efficient\" (corporate-speak for fewer employees) is a very likely result. Would not be surprised to see editorial virtually disappear from the DRF, reducing it to essentially a data-driven betting guide (which is effectively what it is already).

The big question is - even at fire sale pricing - who would be crazy enough to buy such a business?

[TGJB]

From what I understand print is still the majority of their sales.

[BB]

TGJB Wrote:
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> From what I understand print is still the majority
> of their sales.

The last year that DRF had its print circulation publicly reported (12 months ended March 2007), it was selling averages of 66,000 on Saturdays, 44,000 Sundays, and 25,000 during the week.

So, even if print is down by 60%, that\'s still 94,000 copies per week, X 52 weeks, X $10 average rate, for a total of nearly 50 million in annual gross revenue. Even if the margin is only 6% (there are many expenses and other entities taking a cut), that\'s still a yearly profit of $3 million.

[Boscar Obarra]

That\'s their problem .  

 Much more expensive to produce and distribute hardcopy , as Jerry well knows.

 How to convert more users to their digital products?  If they could figure that out, they wouldn\'t be in trouble.

 Thing is, they are no longer a monopoly.

[Topcat]

. . . and haven\'t been, essentially, since the early \'90s, when California tracks first began to print their own individual track programs . . .

[bluechip21]

As I’ve stated before, the issue is more about the fact that 80% of their customer base is teeing off from the 16th hole. The answer is to find more customers on the 7th or 8th hole, but powers that be in our sport can’t seem to wrap their head around this.

Edit for typo

[JohnTChance]

To DRF’s credit, they’re a few months away from converting their Flash-based Formulator pps to html. That’s a terrific product if you’re serious. Worth every penny.

Personally, I’m not a fan of Jay Hovdey. Reminiscing about Charlie Whittingham 20 times a month is OK. But his take a few years ago on the Steve Asmussen vs. PETA complaint/video - hey, it’s no big deal; ha ha and racing has no problems; let’s all look the other way - really came up lame with me. Ba bye, Jay.

[richiebee]

TGJB Wrote:
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> From what I understand print is still the majority
> of their sales.

I have no reason to doubt that JB, but my opinion is that any prospective
purchaser (or current ownership) has at least studied a model whereby the product
is strictly available online and the traditional printed version is no longer
available.

[Tavasco]

Trying not to be naive, but what problem of the customer is the DRF offering a solution too?

Who is the customer? What is the know how of the business? Are they in the software development business with formulator, an industry newsletter or A distributor of past performance data?

IMO, They need to handicap their business. I continue to be very disappointed in their leadership? Sixteen y/o kids can make a million with a podcast.

Very frustrating...resisting change. Democracy next.