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WHY ARE WE RACING FOR CHANGE?
Industry leaders share their views on why this new initiative is so important for the future of racing.
 Chris McFadden: Racing For Change and Racing Enterprises Ltd Chairman
"Horse racing is facing challenging times with declining betting revenues, reduced racecourse attendances, decreasing terrestrial television coverage and dwindling racehorse ownership. But, thankfully, many in the sport now recognise that racing must broaden its appeal and engage with a wider consumer audience.
I believe strongly that Racing For Change is our best chance to modernise racing, capitalise more effectively on its undoubted strengths and increase its relevance to potential punters, sports fans and those with leisure time.
The next step in this process of change is to gather as many views as possible across the industry sothat together we can develop the vision that will revitalise the sport and put it on a firm footing for the future.
We are hoping, over the coming weeks, to consult with many of the racing industry's stakeholders in order to elicit their views on our proposed strategic goals and initial ideas on the Premier product. These creative concepts and recommendations have been formed out of the project group discussions that took place earlier in the year.
They are the favoured options of those most closely involved in the project to date but we all appreciate that the ideas require more detailed review and refinement before we can be certain that we've found the right route forward."
 Paul Roy: British Horseracing Authority Chairman
"As someone passionate about racing - an owner, breeder, racegoer, viewer and punter - I knew when I was appointed chairman of the authority that part of what we had to do was to steer racing towards change.
Markets change, society changes, consumers change, and so should we, to make sure we are as important in the future as in the past. The most successful businesses continually innovate and reinvent themselves. Racing should be no different.
I am convinced that we can succeed. The key to success will be a strong common vision for the whole sport, and then everyone getting on and delivering the vision. Over the past few months racecourses, owners, trainers, jockeys, breeders and others have all made huge efforts to respond to the case for change, and establish a common way forward.
We know we are part of a terrific sport, and it is up to all of us to turn it from one of Britain's 'best-kept secrets' into what more and more people talk and read about, go to enjoy at the racecourse, or watch, bet on, and be part of as owners."
 Paul Dixon: Racehorse Owners' Association President and Horsemen's Group Chairman
"Racing for Change must be embraced with enthusiasm and commitment by every entity in racing. This bold initiative is British racing's recognition that we can no longer sit back and watch the audience share of our sport continue to decline.
Horseracing has a unique position in the British way of life and we must fight to preserve this while improving the industry's financial stability. We must face up to our responsibilities inaccepting that what is required is more than a tinkering at the edges.
Racing will have to undergo some radical changes in the next few years and, although we must not throw the baby out with the bathwater, we cannot allow entrenched positions to stand in our way. This is why we must all work hard to get universal buy-in from this often fragmented industry for what we are trying to do.
We must all recognise that it is no longer good enough to do things the same way because that is the way they have always been done. We have to be inventive and far-reaching to create a more exciting sport that appeals to a new and wider audience that will ultimately provide greater economic stability for British racing."
 Stephen Higgins: Newbury racecourse Joint-Managing Director
"Newbury believes that significant changes are required to the way racing is presented in order to make the sport more popular and accessible.
Racecourses have made significant capital investments over the last ten years in order to compete in the modern leisure industry but high fixed costs and limited trading opportunities can result in minimal returns. Courses are diversifyingtheir raceday offer but it is critical for the sport that its attraction is unlocked for a new generation if racing and its stars are to remain centre stage.
The development of a more attractive premium product can benefit all participants, through increased betting turnover, media rights values, and ticket and hospitality sales. A stronger product should also encourage better sponsorship opportunities. All these elements will directly increase the prize-money available.
Racecourses should take the lead in making the raceday experience more enjoyable and inclusive. Enhancing the raceday show can communicate the sport to new audiences and should sit alongside improved standards of customer care in a way that does not disenfranchise existing participants and supporters, but equally does not use tradition as a barrier for change.
As well as driving revenues we should address the cost base including integrity costs, which must be realistic and reflect themodern landscape, to ensure that returns to the industry as a whole are maximised."
 Ian Barlow: Racecourse Association Chairman
"Racing has been remarkably resilient to the recession. But it faces many challenges and much competition - a lot of which has been developing for years. It's time for us to address these issues head on.
This needs all aspects of racing working together in partnership with the bookmakers. That is precisely what the Racing For Change project represents: an opportunity to make the changes we need for the long-term prosperity and continuing pre-eminence of British racing. It will require sustained effort and investment over many months and years.
First and foremost we must market the sport better, to all our customer groups, on and off the racecourse, and to new customers. We need to interest them in our sport, its stories, stars, and particularly in our main events. We need to make our new customer's first visit memorable, so that they will return, and persuade our occasional visitors to race more often.
That's why one of the four project work streams is the raceday experience. We are not trying to invent a new commercial proposition. We already have excellence at many levels on many racecourses.
Giving our visitors a hugely enjoyable time is at the heart of every racecourse's commercial strategy, whether it's to our loyal supporters and racing aficionados or families or young people, but we can always do better. We need to listen, evaluate, share best practice and consider how we can improve further."
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