77 Quotes by Martin Sorrell
- Author Martin Sorrell
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It is always easy to criticize, as Bernie Ecclestone is somebody with extreme opinions.
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- Author Martin Sorrell
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F1 is a fight for people's time. There are millions of options today for how to spend it. That is probably the biggest difference from 1968 to now.
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If you pay 50 million for something, you probably pay another 50 to 100 million to activate it. And the more you spend, the better you do. There is no point in just buying rights.
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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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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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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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The world is changing. And a lot of people in Formula One are starting to understand this.
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That might be the old model: to get a fixed fee. You have to start to think about other models and how they can generate interest - what it can do for a brand in the future - and about the fact that revenue can also be generated in many other ways... Just look at the one and a half million people at the free Rolling Stones concert in Cuba. And Cuba is not Central Park! So just use your imagination as to what kind of revenue can be made...
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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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