Bathurst Regional Council, feeling increasing financial pressure, has launched a campaign seeking commercial partners to leverage over-track and billboard signage at the Mount Panorama Racing Circuit.
The first-of-its-kind move at Australia's largest publicly-owned motor racing circuit marks the latest step in the council's plan to unlock revenue streams for the local economy.
"Mount Panorama is a prestigious, global stage known by many, and we are excited to unlock this rare opportunity for national and international brands to grab a slice of our famous circuit and be part of its deep history," said deputy mayor Ben Fry.
"Our racetrack is internationally acclaimed and not only is it televised nationally throughout the year, it also welcomes more than 280,000 visitors to the circuit annually outside race events to experience the magic in person."
Bathurst sees 1.1 million visitors each year, with half a million heading up to Mount Panorama and 280,000 plus visiting outside of race times.
The council already brings in $4 million a year from Mount Panorama operations but it costs roughly the same to run and maintain.
This new program is designed to generate a real profit for the first time which can be given straight back to the local community.
Bathurst Regional Council's economic research shows seven out of 10 Australians can recall the specific advertisements on regional billboards, which is 20% higher than traditional advertising channels in metropolitan locations.
"As one of Australia's most iconic circuits, this launch marks a groundbreaking opportunity for brands to harness a powerful regional asset, driving real economic impact and meaningful engagement within the local community," said Fry.
"There are eyes on Mount Panorama, we know that. We want to ensure we can leverage this visibility to create a sustainable revenue driver that will be put straight back into the local community."
Cost-shifting has surged under the NSW state government, with Local Government NSW's recent report revealing that an estimated $1.5 billion of financial responsibility has moved to local councils.
"Under the current government, regional councils in New South Wales have really felt the pinch as more responsibilities drift our way while grant taps turn on intermittently," said Fry.
"It is clear households are under pressure right now, so Bathurst Regional Council is doing its part to ensure we can ease the cost-of-living burden our community is facing by ensuring we are getting the most of this region's famous assets."
"Instead of defaulting to pushing these costs onto the community and increasing rate bills, we are tightening spending where we can and commercialising our highest-profile asset."
"Leasing premium signage at the Mount Panorama Racing Circuit helps fund services without leaning further on our Bathurst ratepayers."
Expressions of interest, closing at 10am Tuesday, October 28, are now open for brands to advertise on the track.
Both over-track billboards and trackside signs will be available at key locations, with multi-year term options available.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.