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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.

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
Seasons
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Monaco
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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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In an era of transparency, you can have innovation without branding, but you cannot have branding without innovation.
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The challenges some European economies have are such that it makes it very difficult for them. You have to go where the growth is.
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If you are a driver of a team and have a certain set of sponsors, who is the target market for those sponsors? But, of course, it is also a question of nationality.
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It is always easy to criticize, as Bernie Ecclestone is somebody with extreme opinions.
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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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In fact, if you were interested in a global platform there are only three sporting events: probably the most powerful - or equally powerful [to F1] - are the World Cup and the Olympics, and then Formula One. And there it gets interesting.
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Donald Trumps' senior advisor said on CNN that the US Presidential election was the ultimate reality TV show! Appeal to those you want to reach!
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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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You have to see it on a broader level. But you also have to activate it properly.
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One of the reasons why they are optimistic is that there is more competition. Red Bull has become more competitive, the races have become more attractive - and that is what fans want!
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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] 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.
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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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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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Think through whom you are trying to reach. Tailor what you do and how you do it to appeal to those communities.
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