Martin Stevenson, the former Finance Director of the Racecourse Media Group (RMG), has been elevated to the rank of CEO. Stevenson has extensive accounting and media expertise.
Stevenson joined RMG in 2007 as Finance Director and has since gained a “deep and intimate knowledge” of the company’s market and activities.
Stevenson said: “I am extremely excited and honoured to take up the position of RMG CEO. I look forward to working even more collaboratively with our 34 racecourse shareholders, whose media interests have been entrusted to RMG.
“RMG has been a phenomenal success story since its inception as Racing UK back in 2004, having posted year-on-year increases in licence fees payable to its racecourse shareholders nearly every year of trading. It shows what can be achieved via a collective approach to commercialising our racecourses’ media and data rights.”
Stevenson is a licenced Chartered Certified Accountant and has worked as Managing Director of the Newspaper Licensing Agency and Group Financial Controller of Trinity Mirror plc, in addition to his tenure at RMG.
RMG Chairman Roger Lewis commented: “On behalf of the RMG Board, RMG’s racecourses and all the RMG staff, I am delighted to announce Martin as the new CEO of the Group.
“After an extensive and rigorous recruitment process, during which we interviewed a number of outstanding candidates, the RMG Board unanimously voted for this appointment. Martin’s vision for RMG is bold and imaginative. His relationship with our shareholder racecourses is very special and Martin is passionate that RMG can, and will, deliver the best returns for racing.”
QIPCO 2000 Guineas Day
Stevenson’s promotion comes after the firm announced Monday that it would cover the QIPCO 2000 Guineas Day in Newmarket and the Epsom Downs Derby Day in the lucrative Hong Kong market.
Under the terms of an arrangement between the Hong Kong Jockey Club, The Jockey Club, UK Tote Group, and RMG, the two races were graded as World Pool competitions, enabling RMG to have coverage in the territory, where turnover has risen by over 118 percent since 2012.
New virtual studio
RMG’s Timeline TV collaborated with Racing TV last month to open a new virtual studio in Ealing, West London, with the aim of bringing televised horse racing coverage to the next level.
Prior to this, the company extended British and Irish racing’s international presence through an agreement with Sportsbet Australia, which enabled the operator to broadcast and take bets on the event, in collaboration with Sports Information Services.
“The RMG business model has been severely tested during the last 12 months, but it has demonstrated great resilience, providing vital media rights income for our racecourses,” Lewis continued.
“This has been achieved due to the extraordinary efforts of our racecourses who have brilliantly kept horse racing running. We are proud to serve them. We are now slowly emerging out of the pandemic and Martin is undoubtedly the right person to lead RMG into its next phase of growth over the coming years.”
Following Richard FitzGerland’s retirement in September 2020, Stevenson will take over as CEO. FitzGerland held the role for almost 12 years.