The Kentucky Derby is a unique event that manages to captivate both sports and cultural enthusiasts. With 15 million viewers, the Derby remains a popular television event, one of the few non-football programs to attract such a large audience in 2023. The actual race, dubbed “the most exciting two minutes in sports,” draws closer to 17 million viewers and maintains its viewership despite a general decline in telecast ratings. While the Derby is part of the Triple Crown of horse racing, the other legs – the Preakness and Belmont Stakes – do not garner as much attention.
The decline in the popularity of horse racing can be seen in national polling data, where less than 1% of Americans consider it their favorite sport to watch. However, the Kentucky Derby stands out with its high viewership, attracting about 150,000 attendees in person, more than the Super Bowl. The Derby’s success lies in its ability to transcend being just a race, with the two-week Kentucky Derby Festival turning the event into a cultural spectacle. The mint julep, a signature drink associated with the Derby, adds to the event’s charm, further solidifying its status in the American psyche.
Beyond the sporting event, the Derby is also a showcase for fashion, with a majority of women donning extravagant hats that can cost hundreds or thousands of dollars. Celebrities like Martha Stewart, Kid Rock, Josh Groban, and Jack Harlow are commonly seen at the Derby, contributing to the glamorous atmosphere. The presence of celebrities is a significant draw for viewers, with events like the Barnstable Brown Gala raising nearly $20 million for charity over the past 35 years. The broadcast of the Derby, which includes celebrity sightings and festivities, is a major part of the appeal, with only a two-minute race to anchor the five-hour telecast.
While betting on the Derby remains a significant aspect of the event, the amount wagered is just a fraction of the total sports betting industry in the United States, which exceeds $100 billion annually. Despite the legalization of sports gambling, horse racing retains its appeal and endurance, with the Kentucky Derby continuing for almost 150 years. The Derby’s position as a cultural icon, blending sports, fashion, celebrity, and social events, ensures its longevity for another 150 years.
