"While these ratings may have been among the best compared to other television programs, it is a disappointing figure when compared to previous iterations of the Kentucky Derby."
"What makes the opening rounds great is when Cinderella advances. But at a certain point in the tournament, when it comes to historical television viewership, you want teams that are proven TV draws."
"It is down 27% from last year. It is also significantly lower than 2021, which saw the smallest audience ever to that point, with an average of under 6 million tuning in."
Borrell Associates projects that figure will climb considerably over the next four years as the industry undergoes what it describes as a "great reshuffling."