For $100 a Month, Fans Can Own 15 Racehorses. More Than 4,000 People Are Waiting to Join

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For 0 a Month, Fans Can Own 15 Racehorses. More Than 4,000 People Are Waiting to Join

The subscription stable pairs low-cost ownership with race winnings, owner credentials, VIP experiences, and a community that keeps members engaged.

EXPERT OPINION BY DANIEL ROBBINS, CEO AND FOUNDER OF IBH MEDIA AND HOST OF FOUNDER’S STORY

For $100 a Month, Fans Can Own 15 Racehorses. More Than 4,000 People Are Waiting to Join

Horse racing has a fan problem, and Adam Kluger thinks he knows exactly why. “Every major sport builds fans first and gamblers second,” he told me. “Horse racing has done the opposite.”

For generations, actually owning a racehorse required six

For generations, actually owning a racehorse required six figures, an owner’s license, vet bills, and insider connections. The result: a sport that asks people to bet on something they can never truly be part of.

Kluger’s company, Run Fast Racing, flipped the model. For $100 a month, everyday fans co-own the entire stable of racehorses, more than 15 and growing, alongside celebrity partners Lil Wayne, Lil Yachty, and Rauw Alejandro. Payouts get deposited directly into members’ bank accounts, and members get owner credentials, stable visits, and VIP racetrack experiences.

Racing to Profit

The numbers, less than four months after launch, look more like a hot SaaSstartup than a racing stable.

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According to Kluger, subscription revenue grew 48 percent

According to Kluger, subscription revenue grew 48 percent month over month, from $75,400 in June to $111,700 in July, and the company now bills six figures monthly. Membership is up 8x in three months. Churn has fallen five straight weeks, from 16.3 percent to 11.1 percent, an 88.9 percent retention rate. Subscriber lifetime value jumped 53 percent in a single month, from $531 to $812. More than 4,000 people sit on the waitlist, and when the company opened signups for its Breeders’ Cup owner experience, 2,200 people joined within 24 hours.

“We grew new subscription revenue 48 percent in a month without increasing marketing spend,” Kluger said. “All indicators point to this being a rocket ship of a business.”

The momentum accelerated when one of the stable’s horses, Listenupshance, won the $400,000 Grade 1 Bing Crosby Stakes at Del Mar and qualified for the Breeders’ Cup, where the horse will compete for a $2 million purse. The company has now paid out more in race winnings to members than many have spent on their subscriptions.

Source: www.inc.com