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[Formula One] is entertainment and it competes with other entertainments - and not with other racing formats. It competes with people's time on a weekend. So you have to deliver.

Martin Sorrell

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Martin Sorrell
Age: 79
Born: 1945
Born: February 14
Businessman
Businessperson
Merchant
Sir Martin Sorrell
Sir Martin Stuart Sorrell
Martin Stuart Sorrell
Weekend
Racing
Entertainments
Entertainment
Competes
Time
Formats
People
Format
Formula
Deliver
Formulas

More quotes by Martin Sorrell

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What still amuses me a bit is that in F1 people see the race basically on TV screens. But I am sure new tracks will be built.
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When I think back to 2005, the fast growth markets - what we call the fast growth markets - were probably ten percent of our business. They are now 31 percent.
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Technology will have moved on to an unimaginable level in ten years.
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F1 is exciting, its values are attractive and it could be an even better family sport.
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Formula One gives a platform to companies like Rolex - and that's just in media space, watching television or reading newspapers, digital or physical. You see the brand in the context of the competition and bring it to the attention of everybody on a regular basis.
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I believe that Virtual Reality will hit it big time. I know that some of my colleagues disagree, but I believe in it.
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You must not only focus on the consumer, but also on what it does to you internally - getting people aligned to the strategic mission of the company - what it does to the suppliers, governments, all your stakeholders.
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Monaco was my first race of the season and I spoke with a number of people and all seemed to be very optimistic.
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We do things much the same way as we did 50, 60 or even 70 years ago. The answers may not be wrong, but we haven't experimented to see whether they are or not.
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In the Ridley Scott film 'The Martian' you can do that [virtually driving car]. I have lifted off in the space craft from the surface of Mars, walked in space and looked down into deep space and got terrified, with the headphones and the goggles.
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The last person in the UK who described his product as being crap in public was one Gerald Ratner - and he was gone immediately.
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There is much romanticism about Formula One of the past. Today it has to be more of a family sport, not less. It is a fixture in the Sunday afternoon TV programmes, and probably flamboyance - those white silk suits and devil-may-care attitudes - would be outworn attributes today.
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Vodafone is building a digital stadium in Istanbul. It is really worth going to see that. The whole experience will change with the possibilities viewers will have.
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In an era of transparency, you can have innovation without branding, but you cannot have branding without innovation.
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If I were to be super critical, I would say Formula One is too tactical and not strategic enough. And that brings us back to the digital issue: you may have to invest in order to gain - sacrifice some short-term effects in order to make high returns in the future.
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I recently interviewed Bernie Ecclestone in London. He had a go at women, said [Vladimir] Putin should be running Europe and so on. He enjoys it - he's been doing it for such a long time. He has an entrenched position. The truth be known, he is unique, right?
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Despite streaming, despite the rise of tablets and smartphones - all the implications which in theory would make linear TV less important - live sporting events are extremely powerful. But it's not the event alone - it's also what's surrounding it.
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The web attacks traditional ways of doing things and elites, and this is very uncomfortable for traditional businesses to deal with.
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Formula One does very well. It is a very interesting asset. Could it be run in a different way? Sure it could be. Could it be improved? I'm sure it could. But all I can say is, it seems to do pretty well.
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That is again a romantic notion: the hero. I think people enjoy a much more levelled playing field where you have the ability for many people to become heroes.
Martin Sorrell