Race Industry Leaders Provide Insight into State of Racing

Race industry leaders say safety, marketing with new technology and incorporating fresh faces are all factors that will determine the future of NASCAR. Another challenge is drawing in a new generation of racers. Multiple industry leaders, including Hendrick Motorsports, Team Penske and Roush Yates Racing Engines, shared insight into the world of NASCAR at Tuesday's annual North Carolina Motorsports Association meeting.

As speedways work to fill seats, a challenge is drawing in a new generation.

"We have to meet them where they are, with something they're going to find relevant and compelling," said Steve Phelps, with NASCAR.

"The challenges continue to be everybody wants more for less, but at the same time, it's not as much about who has a personal relationship with Motorsports as it is with return on investment," said Tim Cindric, the president of Team Penske.

Teams cited the importance of social media platforms but also say a challenge is measuring the success of marketing campaigns.

"Much of that technology will bring the race fan closer to the sport that they love, that's going to be more important particularly as we try to get younger and more diverse," said Phelps.

Another challenge NASCAR faces is gaining additional owners.

"Value on your numbers, value on a spot in the field, which I think NASCAR is going toward, is a huge thing," said Greg Fornelli, the chairman of the North Carolina Motorsports Association board.

The goal is to continue to grow the fan base using social media, while providing entertainment value for fans.