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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.

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
European
Growth
Challenges
Economy
Difficult
Makes
Economies

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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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You have to see it on a broader level. But you also have to activate it properly.
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If you look at the sponsorship yields, Formula One - because it happens every year - generates more sponsorship money for a four-year cycle than anybody else. So it is very powerful.
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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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It is always easy to criticize, as Bernie Ecclestone is somebody with extreme opinions.
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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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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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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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When you have two people challenge for the same job and you keep them both and call them co-CEOs, or the whole fiasco of a 'merger of equals'... there is no such a thing. So if there should be dreams of dual leadership, the chances of success are limited. But Bernie [Ecclestone] is still at the top of his game I have noticed.
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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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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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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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[Formula One racing looking after Jackie Stewart in 1968] was not so intense and, yes, it was much more dangerous - what was definitely different back then was the level of safety.
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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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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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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.
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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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F1 is exciting, its values are attractive and it could be an even better family sport.
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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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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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