2023 Perfect Putt Yearly Review
Every Monday, I write a newsletter breaking down the business in golf. Welcome to the 97 new Perfect Putt members who have joined us since last Monday. Join 8,151 intelligent and curious golfers by subscribing below.
Read Time: 6 minutes
Today’s newsletter is powered by Pinehurst.
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The rollicking Cradle short course
Gil Hanse’s design of Pinehurst No. 4
Tom Doak’s design is opening in April 2024
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It’s a beautiful day in Pinehurst.
Hey Golfers —
Thank You — thank you for taking five minutes out of your Monday to read Perfect Putt. It has been a great year — I have you to thank for that.
Today’s newsletter is going to touch on two areas.
Yearly review and top stories
A look at the golf industry for 2024
Last year, I set three primary goals with Perfect Putt.
Keep Perfect Putt free
Reach 10,000 subscribed readers
Stay consistent and post weekly
We hit two out of those three goals — I came up quite a bit short on 10,000 subscribed readers. And I think multiple factors went into that. Twitter and Substack had a disagreement in April that ultimately led to Substack links not appearing and being suppressed on Twitter.
Here is a quick example. I didn’t add over 100 new subscribers in a week from April to August. In early August — I made a partial switch to Beehiiv so my newsletter would get more reach. Since then, I have had six weeks where I added over 100 new subscribers.
While Twitter has its quirks — I still think it is the most valuable social media platform. The golf community is robust and interactive. If you have a golf business or are starting one, I recommend interacting with the golf community on Twitter. I’ve seen it firsthand with my good buddy and former teammate Tyler Johnson. He stood up his golf bag business focused on toddlers in four months. He sold out of bags on both of his releases in 28 and 2 minutes, respectively.
And if I am being honest with myself on not reaching 10,000 subscribed readers — some of my pieces weren’t good enough this year to facilitate the growth I wanted. I wrote a piece consistently each week, but my quality wasn’t as consistent as I would have liked.
It’s important for me to keep Perfect Putt free. In most cases — I am not a fan of gated content — especially for one piece a week.
Perfect Putt is read in all 50 U.S. states and 80 countries — which blows my mind. Here is a look at the readership breakdown.
United States — 77%
United Kingdom — 7%
Canada — 5%
Australia — 2%
Ireland — 1%
One of the most interesting exercises I do at the end of the year is looking back at the most viewed pieces. It helps me understand what readers want to consume — as well as possible trends in the industry.
Sacks Parente — 14,550 views
Indoor Golf Market — 14,330 views
Lighted Par 3 Golf Courses — 13,725 views
Robert MacIntyre’s story — 10,330 views
Pro Golfer’s selling shares — 10,050 views
Two of the five top stories have to do with alternative forms of golf. Something I am a big fan of as golf continues to grow.
Here is what I am looking at for 2024.
Golf rounds played
Topgolf same venue sales
Golf entertainment growth
Golf rounds are one of the most critical metrics in the industry. As long as the consumer remains strong, I expect golf rounds to mirror what we have seen this year.
Here is my logic behind that statement.
Junior golf will continue to be a driver of more rounds being played. Youth on Course has nearly tripled its members to over 200,000 since 2019, and rounds have increased to 700,000 annually.
Golf participation in ages 6 to 12 has increased by 35% since 2019 — the second-highest increase in all the sports Aspen Institute studied. Tackle football and baseball saw double-digit decreases.
Topgolf is in an interesting cycle. To grow — they need to build more venues. To build more venues — they need more capital. Shareholders want to see a return on their investment.
I am a fan of Topgolf. They play an important role in the golf ecosystem — introducing millions of people to the game. While their same venue sales aren’t a direct reflection of the industry, they have the potential to be a leading indicator of new golfers in the years to come.
Golf entertainment has seen explosive growth in the last four years.
Indoor golf venues
Indoor mini-golf venues
Outdoor mini-golf venues
Lighted Par 3 golf courses
Tech-infused driving ranges
Golf entertainment is generally not a replacement for playing a round of golf. But it has a significant impact on bringing new golfers to the golf course.
What I am most interested in in the golf entertainment space is Drive Shack and the lighted Par 3 golf courses.
Drive Shack is betting on Puttery — its indoor mini golf business. It will be interesting to see how many venues they build out in 2024 compared to Puttshack.
The commercialization of lighted Par 3 golf courses is an opportunity in 2024. And there is room for several entities. I expect one or two companies to announce multiple locations in 2024. I believe this is the bridge between Topgolf or Puttshack to golf courses.
Have yourself a great Monday. The next Perfect Putt newsletter will be on Monday, January 8th. Have a safe and healthy Holiday Season. Thank you for your continued support!
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Hi Jared, thank you. I really enjoy the weekly news/trends about our game, even from here in NZ.
Just noticed how to share on Facebook. Sorry for earlier comment about not seeing how to do so.