The Boston Herald reports that as the The Volvo Ocean Race wraps up its three-week stay in Boston it will leave $20 million in spending by spectators, sponsors and participants in its wake. However, America’s dying newspapers seem to have a problem with the corporate nature of the race!
Pat Moscaritolo from the Greater Boston Convention & Visitors Bureau said:
“That’s a huge shot in the arm given what the visitor economy has been experiencing,”
But, as welcome as the injection of funds was, the race had to compete with the Red Sox, Celtics and Bruins. Moscaritolo, also believes the corporate branding of the race left local media uncomfortable covering it.
“Once you brand the race with a name or a product, how may media outlets are going to give you (lots of) free publicity, especially in a day when no one’s buying ads anymore,”
This seems odd from a European perspective. It’s like saying that the media would not cover the Sprint Cup (NASCAR) or the Fedex Cup (Golf), unless Sprint and Fedex paid over and above for advertising.
Volvo Ocean Race communications director Marcus Hutchinson acknowledged the event’s inability to attract adequate corporate sponsorship limited pre-race publicity.
“For sure, in this economic crisis, we didn’t secure the sponsorships here, and we didn’t have the revenue to spend on promotion and advertising that normally we would have expected to do in America,” Hutchinson said. “It’s a regrettable situation, but it’s worked out well, and the park was full when we wanted it to be full.”
Nearly 135,000 people had visited the Volvo Ocean Race Village on Fan Pier as of Monday.