Wolff believes F1 should start to monetize digital media

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Liberty Media has come to Formula 1 to completely revolutionize the current concept, both sporting and commercial. And, according to Toto Wolff, one of the important roads to explore is that of the digital media generated by the teams, riders and the own competition.

To the head of Mercedes, “there are aspects in which we can improve. We have not done enough even in the digital media. It is something that has not been monetized yet, but as a marketing tool is of immense importance to attract new groups of viewers”, ” said austrian in a statement to Frankfurter Allgemeine Zeitung.

But, although such an assessment involves a critique evident in the previous management of Bernie Ecclestone, Toto Wolff believes that it would be a mistake egregious to get rid of the british, as their knowledge is invaluable. “There is a risk that you will miss a lot of knowledge. Bernie has turned this championship into one of the largest international companies of the sport in the last forty years. Has achieved goals amazing, we have long-term contracts with television and we have a great range because it aired on tv in open. Be a part of it certainly is not simple because a large part is based on personal relationships that Bernie has built up over decades”.

therefore, to Wolff it is important that Bernie remain in the background, but that remains linked to the Formula 1, working as of their possibilities to smooth the transition with Liberty Media. “With Bernie, you never know if it really has gone or will return somehow. However, Liberty has not only achieved most of the actions in the Formula 1, has also secured the right to vote. Chase Carey is the new head, it is a fact, so Bernie should stay as honorary President”.