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Saturday's inaugural running of the $20 million Saudi Cup is set to be broadcast to more than 100 territories
Thanks to the efforts of international horseracing media rights agency HBA Media who have ambitions to reposition horseracing alongside other major sports in the world of sports broadcasting.
Established by Henry Birtles in 2006, HBA Media provides live international horseracing packages to broadcasters and has built up a portfolio of some of the world's richest and most prestigious events, either owning the rights or handling them for their owners.
In addition to the Saudi Cup they have partnered with the Melbourne Cup, Breeders' Cup, Ascot for their global media rights outside the UK and the US and most of the recognised international racing federations for their media rights into the Middle East.
The Saudi Cup, the world's most valuable race, is being distributed via a bespoke one-hour programme called The Golden Hour, or through a five-hour world feed package, both produced by IMG and managed by HBA Media.
Sky Sports Racing and Racing TV will provide coverage in the UK, while among the myriad of other deals Fox Sports 1, with 83 million subscribers, will show the hour-long programme in the US.
Birtles said: "The advent of the Saudi Cup represents a huge step forward in the world of top-class international racing. Year one broadcast distribution has successfully reflected the significance of this event and we look forward to building on early achievements as Saudi Arabia establishes itself as a global horseracing destination in the years ahead."
Looking at the broader picture, Birtles is adamant racing can be repositioned as a sport for the fan and commercially by targeting the emergence of digital powerhouses operating on what the media industry calls the OTT space – meaning over the top of traditional broadcast media through the internet – which will allow the sport to start from a clean slate.
"Everyone always talks about repositioning a sport or appealing to a new audience or getting the young to be involved," he said.
"The opportunity that's going to be afforded to racing by these digital offerings means it's going to be a very, very interesting time for the sport."
In the case of the Saudi Cup, the opportunities include Twitter and HBA Media partnering together to distribute the race to Twitter's audience in the MENA region covering the Middle East and North Africa.
HBA Media managing director Frank Sale said the concept of a one-hour show such as the Golden Hour was ideal for mainstream networks, but with OTT and digital there was the opportunity for extensive "shoulder" programming or complimentary content that supports the live racing.
Birtles said: "The thing about OTT is it's not restricted by tight scheduling as TV is. You can have social media strategies and OTT coverage which allows for unlimited content and storytelling; and this all complements the traditional broadcast commitments to racing's bigger days."
Sale said OTT would afford the sport an 'always on' presence and such developments could also help the sport find sponsors from outside its traditional sources like the betting industry.
"But they need the production, content and programming to attract them," he added.
"Unlike racing-dedicated channels, mainstream networks don't have the airtime or demand for multiple-hour live international racing coverage.
"To get the sport's shop window or showcase events into the mainstream giving them that essential worldwide exposure, the offering has to be more tailored to the general sports fan, which is the reason behind the Breeders' Cup 'Classic Hour' and the Saudi Cup 'Golden Hour'."
Birtles added: "Although they should be respected and catered for, our sights have to be set way beyond the converted for the magic of this great sport to truly resonate on the scale it deserves."
The issue of sport and Saudi Arabia is not without controversy, with the country being accused of using "sportswashing" to distract from criticism of its human rights record.
Birtles said: "The inaugural running of the Saudi Cup is a reflection of the transformational journey that is occurring in the country at the moment. It's a vehicle designed to drive greater levels of engagement in the sport at community level while providing new opportunities for horseracing domestically and for international contenders."