Racing broadcast rights: What’s left for Network Ten if horses bolt?

Network Ten has again found itself in headlines lately, often for the wrong reasons, as negotiations around the broadcast rights to horse racing’s most lucrative week, the Melbourne Cup Carnival, could force the US-owned network to rethink its commercial strategy should the rights leave its own stable.

Tabcorp has asked Seven, Nine and Ten for expressions of interest to purchase the Victorian Racing Club’s Melbourne Cup Carnival media rights, as it looks to tie up a domestic deal with the Victorian Racing Club beyond 2023.

Ten has held the rights since 2019, with previous holder Seven Network broadcasting racing throughout the year. Network executives have appeared dismayed at the potential of sublicensing from the wagering company, with any potential bid not expected to reach the price paid four years ago.

Meanwhile, Ten has moved further adrift lately in the yearly ratings battle, after a sustained period of challenging rivals Nine and Seven in key 16-to-39 and 25-to-54 demographics; though for its overseas owners, the commercial strategy increasingly focuses on its streaming service, Paramount+.

Last week, it was revealed Ten is suing its former political editor, Peter van Onselen, for an alleged breach of contract after he wrote about his former employer’s business prospects and management in The Australian.

Another of the network’s stars, Lisa Wilkinson, continues to be embroiled in a legal stoush with Bruce Lehrmann, also apologising to Jacinta Nampijinpa Price on Friday after private comments she made about the Indigenous senator were made public.

Ten/Paramount missed out on arguably the market’s most lucrative broadcast asset in 2022, the AFL rights. Despite Paramount’s reported $6 billion bid over 10 years, Seven emerged the victor, securing seven more years of guaranteed eyeballs through a $4.5 billion deal.

Ten also failed to secure Cricket Australia’s entire media package across free-to-air and streaming in late 2022, with the rights eventually staying with incumbents Foxtel and Seven.

Nine, owner of this masthead, extended its relationship with Tennis Australia in January, has the NRL signed up until 2027, and secured the next decade of Olympic Games, including the 2032 Brisbane Games.