The ultramarathon business

Summary

Business Daily: "The Ultrarunning Business"

BBC World Service | March 11, 2025
Host: John Laurenson

---

Overview

In this episode, John Laurenson explores the booming ultramarathon industry—a world where athletes push beyond marathon distances over extreme terrain, and where the business side is expanding as fast as the sport itself. Broadcasting from Nice, France, during the Ultra Trail Nice Côte d’Azur, Laurenson interviews elite runners, event organizers, sponsors, and amateur entrants to peel back the layers of this endurance-fueled business.

---

Key Discussion Points & Insights

What is Ultramarathon Running? (01:12–02:00)

• Definition: Any running race longer than the traditional marathon (42 km/26 miles) counts as an ultramarathon. Typical ultras often stretch well beyond 100 km, frequently over mountainous or difficult terrain.
• Notable Challenge: The Ultra Trail Nice Côte d’Azur is a 159 km race with 8,200 meters elevation gain — “Think running up the steps of a building that’s five miles high.” (01:58)
• Additional Hardship: Slower runners endure two nights of running, with hallucinations becoming common.

The Athlete’s Perspective: Prize Money, Sponsorships, and Cost (02:58–06:25)

Interview: Tom Jolly, British Elite Trail Runner

• Earnings Are Elusive: Only the absolute top-tier “superstar” athletes get six-figure sponsorship contracts.
  • “If you’re just below that mark, you are fighting really for enough money just to, just to cover your costs.” – Tom Jolly (03:23)
  • Brands might offer contracts worth around £10,000 per year, usually with expense top-ups.
• Sponsor Expectations: Performance metrics vs. social media
  • “It’s a marketing job and that is what you’re ultimately signing up for.” – Tom Jolly (04:20)
  • Requirements can include race wins, social media postings, and public brand representation.
• Out-of-Pocket Costs: Training, nutrition, equipment, and travel burden most runners.
  • “I’d actually describe the job of a professional athlete as professional eater first and an athlete second.” – Tom Jolly (05:24)
  • Food cost: Over $200/week, eating up to six large meals per day.
  • Equipment: Goes through a pair of trainers every month (~6,000 km/year).
  • Prize money is rare: “Two years ago was the last time I won any money.” – Tom Jolly (04:45)

The Evolution and Expansion of the Sport (07:33–10:13)

History and Growth

• Ancient Roots: The legend of Phidippides running 140 km pre-dates the marathon (07:33).
• Pioneering Races: London to Brighton (1899), Comrades Marathon (1921, South Africa), Western States 100 (1972, USA) are historical milestones.
• Modern Explosion: “By the mid-noughties there were some 150 ultramarathons and then it really took off.” – John Laurenson (08:39)

Interview: Kate Allen, Editor & Co-Owner, Run Ultra

• Global Reach: “There are thousands of races and hundreds of thousands of runners and it’s growing every day.” – Kate Allen (08:39)
• Regional Traditions: US as growth spearhead; UK’s “fell running” tradition (hill racing for prizes as old as country fairs).
• Luxury Experiences? The "Highland Kings" event in Scotland adds luxury with upgraded accommodations like castle stays (09:46).

The Organizers: Scaling Up and Financial Realities (10:13–13:30)

UTMB (Ultra Trail Mont Blanc) and the Business Model

• About UTMB: Founded in 2003, the Mont Blanc race became legendary and now offers seven additional events over one weekend, totaling 10,000 runners.
• Global Expansion: Partnership with Ironman Group led to the UTMB World Series – required qualifiers held worldwide (10:38).
  • “We have globally 43 events this year.” – Frederic Lennart, CEO UTMB Group (11:23)
• Biggest Costs:
  • Event organizing can run close to €1 million for 6,000 runners (12:08).
  • Major expenses: safety, security, signage, aid (food) stations, volunteer management, and year-round planning.
  • “The registration of the runners covers the cost of the organization. We have a strong support from the city of Nice…” – Frederic Lennart (12:34)
  • Promotional budget and live event coverage are heavily sponsor-supported.
  • “Everything is very expensive—we are not the stadium, so we have to manage everything on I don’t know how many kilometers.” – Frederic Lennart (13:07)

Local Economic Impact & Sponsorship (13:30–14:30)

• Boost for Host Cities:
  • “We estimate for this year the economic impact for the city and for the territory at €3.8 million.” – Frederic Lennart (13:38)
  • Calculation includes hotels, restaurants, sightseeing, and pre-race arrivals.
• Event Village: Temporary “tent village” set up for sales and activations; products include everything from cars to non-alcoholic sports beer. (14:16)

The Amateur Runners: What Does It Really Cost? (14:32–16:33)

Brian (Hong Kong/Liverpool) and Camille (France): Competitor Experiences

• Race Schedule: Many runners do multiple international events annually.
• Personal Budgets: Brian estimates about £800 per trip, keeping expenses down by avoiding upmarket hotels. Camille spends about €1,000 a year just on new gear.
  • “I run almost every day… you need the bag, you need the hiking poles and so on. I must spend about a thousand euros a year on gear. And as for the transport, I’d rather not think about it.” – Camille (15:58)
• Gear Breakdown and Upfront Costs:
  • Entry-level trail shoes: €150
  • Carbon fiber poles: €100
  • GPS watch: €500+
  • Technical clothing: shirt (€65), shorts (up to €110), compression gear (€45–€95), jackets (€100–€465), hydration pack (€170–€195)
  • Estimated all-in cost for kit: ~€2,000

The Celebrity Angle and Brand Partnerships (18:16–18:56)

• Star Power: Courtney Dauwalter, recent race winner, has leveraged her visibility for branded kit (her signature “Shortneys”).
  • “It’s been a really cool couple years for women in ultrarunning, so I feel lucky to be just part of it right now. Part of the sport, part of the growth that’s happening. That will of course be good for business.” – Courtney Dauwalter (18:56)
• Sponsorship Drives: Prize money is rare; much of the visibility and funding flows through specialized gear contracts and, increasingly, social media stardom.

---

Notable Quotes & Memorable Moments

• On athlete finances:
  “If you’re just below that [superstar] mark, you are fighting really for enough money just to, just to cover your costs.”
  — Tom Jolly, 03:23

• On the reality of the job:
  “I’d actually describe the job of a professional athlete as professional eater first and an athlete second.”
  — Tom Jolly, 05:24

• On race history and participation:
  “There are thousands of races and hundreds of thousands of runners and it’s growing every day.”
  — Kate Allen, 08:39

• On UTMB's scale and impact:
  “It’s quite a big event because we have 6,000 runners this year. It was 5,000 last year… Most of the events are at 2,000, 3,000 runners.”
  — Frederic Lennart, 11:05

• On the business of cities hosting races:
  “We estimate for this year the economical impact for the city and for the territory at €3,800,000.”
  — Frederic Lennart, 13:38

• On amateur cost considerations:
  “I must spend about a thousand euros a year on gear. And as for the transport, I’d rather not think about it.”
  — Camille, 15:58

• On the rise of women in the sport:
  “It’s been a really cool couple years for women in ultrarunning, so I feel lucky to be just part of it right now.”
  — Courtney Dauwalter, 18:56

---

Timestamps for Major Segments

• 01:12 — Introduction to ultrarunning and this episode in Nice
• 02:58 — Tom Jolly on athlete economics, life, and costs
• 07:33 — History and development of ultramarathons globally, with Kate Allen
• 10:13 — UTMB/organizer perspective with Frederic Lennart
• 13:30 — Economic regional impact of major events
• 14:32 — Amateurs on gear, travel, and event spending
• 18:16 — Gear cost breakdown and the professionalization of kit
• 18:56 — Interview with champion Courtney Dauwalter; sponsorship and the women’s scene

---

Tone & Takeaway

The episode expertly blends the grit and obsession of ultramarathoners with the commercial realities facing athletes, organizers, cities, and brands. The tone is enthusiastic but realistic, highlighting both the not-so-glamorous economics for all but the sport’s ultimate stars and the booming growth that suggests ultrarunning is far more than a passing fad. The episode ends on an uplifting and business-savvy note: ultrarunning is only getting bigger—and smarter—in the years ahead.

Transcript

[BBC Announcer]

This BBC podcast is supported by ads outside the uk.

[Tom Jolly]

I love Ravioli Otanta fame.

[John Laurenson]

Since when do you speak Italian?

[SAP Concur Representative]

Since we partnered with SAP Concur. Their integrated travel and expense platform and breakthrough solutions with AI gave me time back to dive into our financial future. We expand into Europe in 2027 so I'm getting ready.

[John Laurenson]

Well, you can predict the future.

[SAP Concur Representative]

I can predict you'll like that message.

[Tom Jolly]

What message? Oh hey, we all got bonuses.

[SAP Concur Representative]

You can save for college now.

[Tom Jolly]

I don't have kids.

[John Laurenson]

You don't say SAP conc helps your business move forward faster.

[Energy Trust of Oregon Announcer]

Learn more at concur.com@energy trust of Oregon, we understand that energy isn't just what happens when you flip a switch, it's what happens afterwards. It's a home that can provide both shelter and peace of mind. It's a business that can run more efficiently and keep their dream alive. And it's communities that can thrive today and flourish tomorrow. That's energy. And that's why we partner with local utility companies to help you save energy and lower costs. For cash incentives and resources that can help power your life, visit energytrust.org.

[John Laurenson]

Ultra running over ultra distances up and down ultra mountains or across the desert. You might not think a business model based on people running exhausting distances would get very far, but ultrarunning has become phenomenally popular. I'm John Laurenson and for Business daily on BBC World Service, I've come to Nice, the French city between the Alps and the sea, to look at the ultra business. At the Alpine ski Resort of Oron, 575 people are feeling pretty psyched. They're going to pit themselves against the ultra trail. Nice Cote d' Azur 100 miles and the race is about to start. Feel a bit nervous?

[Kate Allen]

Yeah, totally nervous.

[John Laurenson]

This is one of the most punishing sporting competitions known to man. An ultramarathon is anything more than a marathon, which is 42 kilometers or 26 miles. This one is four times a marathon. And whereas marathons are usually run over flat terrain, this 159km course goes over four high mountain peaks with a total elevation gain of 8200 meters. Think running up the steps of a building that's five miles high. Out of those who'll make it to the finish line on the Promenade des Anglais on the seafront in Nice, the fastest will get there tomorrow after running through the night, the others the day after. Their extra punishment for being slow, they have to run through two nights instead of one. Which is, they tell me when the hallucinations start to make things more interesting. The weather forecast is for rain, sleet and snow.

[Tom Jolly]

Technically I am a director at Lignocite, which is a sustainable masonry company. But if I'm totally honest, I don't do a lot of work there day to day. I'd say my full time job is training.

[John Laurenson]

Tom Jolly is a British elite trail runner, part of the GB off road running team. I met him in Nice a few hours before the ultramarathon he's taking part in the hundred kilometers.

[Tom Jolly]

Brands now are becoming more interested in trail running as it becomes more televised and therefore advertising revenue increases. Athletes are starting to see some of that money, but generally only at the very, very top. So the superstars who are getting potentially six figure contracts with the big brands. However, if you're just below that mark, you are fighting really for enough money just to, just to cover your costs. I've had two offers in the last year at this point which would be around the 10,000 mark for an entire year with then, you know, maybe a few more thousand for expenses.

[John Laurenson]

And what do you have to do for that?

[Tom Jolly]

It really depends on what they're after. One was only concerned with performance metrics, just going out racing and winning races and publicizing the brand.

[John Laurenson]

How do you publicize the brand?

[Tom Jolly]

Wear their logo on your, on your kit and have their team name on any of your social media profiles. Whereas other brands are far more social media driven and they'll have specific targets and clauses written into the contract saying you have to post so many times on Instagram or do so many stories. That's actually part of the sport. A lot of athletes don't like and enjoy but you know, at the end of the day it's a marketing job and that is what you're ultimately signing up for. Apart from that, I actually don't have any income coming from the sport outside of prize money. And two years ago was the last time I won any money, I should add it was a big race, world championship level race. I won 8,000 quid, that's $10,000.

[John Laurenson]

As for costs, Tom says the biggest expense is food of which he eats giant quantities costing over $200 a week.

[Tom Jolly]

It actually becomes socially difficult because, you know, a lot of friends, they might skip breakfast, they have a small lunch and small bite to eat. And I'm training typically 20 hours a week on average and will eat probably more like six times a day. And the size of those meals would also be considerably larger. Plus you're also eating during the training. Your whole day sort of revolves around food and planning in food and buying food, cooking food, eating food, digesting food. So I'd actually describe the job of a professional athlete is professional eater first and an athlete second. So the food then trainers. I'm running close to 6,000km a year. Luckily I do get some free shoes at the moment for people who are trying to bring me on board, but I probably buy, gosh, get through a pair of trainers every month. Travel obviously is a big one, particularly to the further destination Races this is.

[John Laurenson]

Business Daily from the BBC World Service.

[Energy Trust of Oregon Announcer]

This is the story of the One As a custodial supervisor at a high school, he knows that during cold and flu season, germs spread fast. It's why he partners with Grainger to stay fully stocked on the products and supplies he needs, from tissues to disinfectants to floor scrubbers, all so that he can help students, staff and teachers stay healthy and focused. Call 1-800-GRAINGER click granger.com or just stop by Granger for the ones who get it done.

[BBC Announcer]

At the BBC we go further so you see clearer. Through frontline reporting, global stories and local insights, we bring you closer to the world's news as it happens. And it starts with a subscription to BBC.com giving you unlimited articles and videos, ad free podcasts and the BBC News Channel streaming live 24. 7. Subscribe to trusted independent journalism from the BBC. Find out more at BBC.com join.

[Energy Trust of Oregon Announcer]

I'm.

[John Laurenson]

John Laurenson and I'm looking at the business of ultrarunning. The first recorded Ultra run goes back slightly further than the first recorded marathon. The sporty Greek messenger Phidopides is well known for having run the 42km from the battlefield at Marathon to Athens to announce victory over the Persians. After which feat he died of exhaustion. But a few days previously he'd run 140 kilometres to get help from the Spartans. The first large scale ultramarathon race was the London to Brighton which began in 1899. That was 88 kilometres long. In 1921 came the comrades Marathon in South Africa over the same distance. Then in 1972 some American soldiers decided to do the hundred mile Western States horse race without horses and the Western States Endurance run was born. By the mid noughties there were some 150 ultramarathons and then it really took off.

[Kate Allen]

There are thousands of races and hundreds of thousands of runners and it's growing every day.

[John Laurenson]

Kate Allen is the editor and co owner of the Run Ultra website.

[Kate Allen]

Whilst we are the largest global race listing, I certainly wouldn't Be so brave to say that everyone lists their race with us. We have about 8,000 past and present on our books, but there's certainly a lot more and there's countries that are just sort of coming into it. The US has probably spearheaded the growth of ultrarunning, but we also in the uk we have quite a strong fell running history to our ultra running. So fell running is a very traditional sport. Will have happened a lot at country fairs, go and climb that hill and the first one back wins a sheep or whatever. But the fell races have grown and the challenges have grown. So we've got some, you know, really quite tough challenges in the uk.

[John Laurenson]

So the ethos is usually pretty gritty. Are there any luxury runs?

[Kate Allen]

I only know of one actually, which is called Highland Kings. They're up in Scotland, unsurprisingly, and they cater to people who want to challenge themselves on the running bit, but actually want a night's sleep in between. So they then offer different levels of accommodation from a rather nice sort of bell tent up to a four poster bed in the castle.

[John Laurenson]

These nice races are staged by UTMB Ultra Trail Mont Blanc. It was founded in 2003 by a husband and wife team who launched a now legendary race that takes its runners right round Europe's highest mountain through France, Italy and Switzerland. This race is massively over subscribed, so they've created seven other races that take place over the same weekend, attracting 10,000 runners in all. Since UTMB signed a partnership with the American Ironman group group in 2021, it started what it calls its World Series. You have to take part in qualifying events in order to have a chance of taking part in the biggie. The event here in Nice is one such qualifying event. It was started just two years ago. Frederic Lennart, UTMB Group's CEO, says it's already very successful.

[Frederic Lennart]

It's quite a big event because we have 6,000 runners this year. It was 5,000 last year. It's quite something significant in the trail running worldwide. Most of the events are at 2000, 3000 runners.

[John Laurenson]

What are the other ones that UTMB organizes?

[Frederic Lennart]

We have globally 43 events this year. The biggest event that we organize are of course Mont Blanc, Valdan in the Pyrenees in Spain, Tres d' Alsace, Grand Test in the east of France, UTA in Australia, Chiang Mai by UTMB in Thailand, Labrador in Italy. We have a lot of significant events and then we have smaller events like Restonica in Corsica. In the us the events are lower in terms of number of participants because there are some different regulations on the national parks. So it's difficult to have big events. It's easier in Europe.

[John Laurenson]

How much does it cost to put on an event like the one here in Nice?

[Frederic Lennart]

Considering that we have 6,000 runners, I would say that the global cost for such an event in terms of organization cost is close to 1 million euro. We have a lot of cost related to safety and security because it's a big town and because we have to manage all the road crossings, the coarse signage, the head stations. Because you have to supply all the aid stations around the mountain.

[John Laurenson]

Head stations?

[Frederic Lennart]

Yeah, it's where you get your food and beverage to continue the race. Then you have to manage the volunteers. You have a lot of things. And to get the authorization you need to have a team working on the event all year long, globally. The registration of the runners covers the cost of the organization. We have a strong support from the city of Nice to organize the event because it's a way to promote the territory, not just the city, but also the mountains behind the city. So it's very important for them when it comes to the sponsors. Their budget cover the promotion of the event, the production of the UTMB live, because we have a live coverage of the event and it costs a lot as well. So everything is very expensive. We are not the stadium, so we have to manage everything on I don't know how many kilometers. Of course.

[John Laurenson]

What are the economic benefits of ultra running events? I guess it's pretty good for the places where they happen.

[Frederic Lennart]

Let's take the example of nice. We have 6,000 runners coming with 3,000 accompanying people and they stay on the average three nights in Nice. So it's quite significant. And we estimate for this year the economical impact for the city and for the territory at 3,800,000 Euro for the city.

[John Laurenson]

What are you counting in that? Just the hotels.

[Frederic Lennart]

Hotels, restaurants, visits. And we could even take into account the fact that the people come for Reiki before the race to prepare their.

[John Laurenson]

I wander down to the seafront where Frederick's company has set up a tent village. It sort of stands selling stuff from cars to a new one on me. Sports beer. What a concept.

[Energy Trust of Oregon Announcer]

Yeah.

[Frederic Lennart]

You want to try?

[BBC Announcer]

Yes, of course.

[John Laurenson]

Come on.

[Frederic Lennart]

It's time to try the sports beer.

[John Laurenson]

They give me half a glass of this alcohol free concoction with lots of vitamins and minerals. They'll sell about a thousand bottles this weekend, they tell me. I get talking to a couple of runners, Brian, who's from Hong Kong but lives in Liverpool, and Camille, who's French about the money side of practicing the sport, which plays quite a central part in their lives and in their spending.

[Brian]

My first wait this year is in Hong Kong and then in Croatia and then in June, I also one in Andorra and then lastly in France, this one.

[John Laurenson]

Did you budget this trip?

[Brian]

To be honest, I haven't counted. But I think properly including everything should be around. Counting in UK pound probably, I think 800. July in Japan. Yeah, business. Because I don't stay in the very luxury hotel. If I choose the very luxury hotel I want for like 100 miles, it's like at least two nights. I mean, it's like competitive weight of the room, so I just choose a cheap one.

[Camille]

I have done two races this year before this one, 80km in the Paris region and 58 in Brittany. I run almost every day, so it takes up a lot of my time. And they are the cost, the train, the hotel and then the gear. Because it's not only the trainers. You need the bag, you need the hiking poles and so on. I must spend about a thousand euros a year on gear. And as for the transport, I'd rather not think about it.

[John Laurenson]

The biggest sponsor of this weekend's race is, not surprisingly, a training shoe manufacturer whose rather cool slogan is Fly, human fly. Although thinking about it, if we could fly, they'd be out of business. A good pair of trail running shoes. Starting price €150. A pair of light carbon fibre running poles. A hundred. A trail running watch with navigation, 500 for something nice. But the other stuff, socks, shorts, T shirt, anorak. Must be pretty cheap.

[Shoe Manufacturer Representative]

We always use materials that really breathe so as to be as comfortable as possible. So here we have a T shirt.

[John Laurenson]

How much is that?

[Shoe Manufacturer Representative]

€65. And the shorts are from 8 for the simple ones to 110 for the shorts with the integrated boxer shorts. Then we have compression socks and stockings. We have full length stockings to help recovery after the race by improving blood circulation. And we have knee length socks for during the race, which are more about support and which help prevent injury. Full length. €95. Knee socks, 45. We've got a thermal vest for when it gets cold for €100. And gloves and other gloves. And at €35 and €45. Then we have super light jackets that are waterproof but breathe well. €465. €40 headband to keep your ears warm. 15. Then there's the hydration pack that you wear as a sort of waistcoat that enables you to drink through a plastic tube while you're running.

[John Laurenson]

Between 170 and 195 for the hydration pack. So a total of about €2,000. 1,985 if you skip the headband. The following morning on the Promenade des Anglais, the sun has returned to Nice. The night run in the mountains under hours of driving rain, perhaps almost forgotten, at least for the winners. The Spaniard Christopher Clemente Moura, who came in first and second ahead of all the other male competitors as well as all the women. The American Courtney dewalter.

[Shoe Manufacturer Representative]

It's been a really cool couple years.

[John Laurenson]

For women in ultrarunning, so I feel lucky to be just part of it right now. Part of the sport, part of the growth that's happening. That will of course, be good for business. Courtney got her American clothes manufacturer sponsor to cut her some special knee length shorts which have kind of become her trademark. She's got a name for them already. Shortneys. That's it from today's Business Daily on the BBC World Service. With me, John Laurenson. Thank you for listening.

[SAP Concur Representative]

Hey, let's talk about your expense report.

[John Laurenson]

I didn't submit an expense report.

[SAP Concur Representative]

You will. Custom saddles and dog training services are not within policy.

[John Laurenson]

What are you talking about?

[SAP Concur Representative]

SAP Concur uses advanced AI to audit and automatically detect out of policy expenses. It's the breakthrough I needed to focus more on our future.

[John Laurenson]

These are my future expenses?

[SAP Concur Representative]

Yes. And self control defense classes are out of policy.

[John Laurenson]

I'll need self defense classes.

[SAP Concur Representative]

You will?

[Kate Allen]

For what?

[SAP Concur Representative]

It's a big dog.

[John Laurenson]

SAP Concur helps your business move forward faster. Learn [e-mail].