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One of the ways Klocked makes money

Klocked earns revenue from end users like many apps do with advertising, subscriptions, and in-app purchases. Unlike most apps and unlike its competitors Klocked also earns money through race registration fees. This article dives into the industry data from the last 5 years to understand the future potential.

Don't want to dive in? Here are are the headlines

  • 22-30 million race registrations were estimated for 2020. One vendor reports nearly 5 million in 2020.

  • Race fees, including the mostly virtual market in 2020, ranged from an average of $26.44 to $87.58 depending on the length of race.

  • The US market size in registration fees is estimated at $1.25B

Klocked is the only AR running app that offers a "phenomenal race day experience" and people pay for that with registration fees. The app is free for every day training, but what about US race registration (physical and virtual) market? ~ 22-30 million. The chart below shows actuals from a single vendor and their estimate on total market size.

~25 million registrations and 5 to 7 million participants. How much do they pay? $26 to $110 on average. 25 million, or so, paying $50, or so, on average. Remember this data includes 2020 - the year of the virtual. So, race registration fees are a $1.25 billion industry.

$1.25 billion US market size in fees alone. Nothing else! no advertising, apparel, subscription, etc. And we know the full impact of the pandemic.

We know the demographics are 64% female. We know the impact of churn in the industry.

We know that 10.1% on average are repeat participants. We know that 26% register in race week. We know what time of day they register and what day of the week paid registrations prefer to run. BTW its morning and Saturday. The data tells us that nearly 50% of the paid racers are between 30 and 49 with nearly 17% over 50. We know that the majority of virtual races are 100 or fewer registrations. On top of that $1.25b market size in the US for race registration fees we know that 6.3% of revenue was from add-ons and store items. Check out today.

We know that 72.9% of traffic for race registrations is on mobile or tablet. We know that in the US 76.6% of those mobile interactions are on Apple and 23.4% on Android. 17% comes from referral rewards. We know that Facebook generates 96% of registration referral traffic and converts to virtual race registrations at about 17%. We know that charitable donations less than $10 are 3 times more common than $50.

We know that 11.8% of race week registrations came on race day. If only there were an app that could offer a phenomenal race day experience with spatial audio, augmented reality, live viewing for friends and family, 3D courses and major brand sports apparel. Sign up for Klocked early access. We hope that the 5-7 million 2020 participants paying $50 on average for 22-30 million registrations enjoy Klocked.

In 2020, between 5 and 7 million people paid on average $50 for virtual races. This with:

  1. no connection to physical races

  2. no real-time tracking - all manual entry

  3. no augmented reality

  4. no 3D visualization with hundreds of virtual cameras

  5. no real-time experience with other racers

  6. no audio guides telling them what placement they were in, how fast to run to overtake or avoid being overtaken

  7. no virtual course landmark audio or video

  8. no 3D courses

  9. no spectator network

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