Dealing with a multiplicity of local entities in Miami is complicated. We feel very good about the prospect of racing in Miami, but it’s taking a long time to construct a race there. We got timed out for next year.
We are in advanced conversations with a number of places around the world; Vietnam, we’d like to have another race in South America, we are talking to South Africa, Copenhagen. We are the truest of global sports. The Olympics and the World Cup take place every four years in one country. We take place every year in 21 countries on five continents, and we are trying to add a sixth continent. We are excited about it.
Rationalising the calendar
We are also trying to rationalise the calendar. Right now, we go from different continents and all over the world. What we’d like to do, and not necessarily in this order, is to have all the Grands Prix in Europe in one 2-3 month time period, the same in the Americas and in Asia. This would be much more efficient in terms of getting this circus around the world, but also from the fan standpoint. We can tell people that for the next 3 months, you are going to have to get up early to watch, or the races will be on at midday or in primetime. From a marketing standpoint and how it relates to the fans, this would provide a lot more continuity.
Bringing the show to the people
We’d like to see more street racing. Even here in Hungary, we are pretty far outside the city. Not as far as somewhere like Silverstone, but the point is that we want to bring this show to the people. We want to increase our fan base. We want to pay close attention to the avid, hard core Formula fan and not alienate that group, but at the same time we want to attract new and casual fans. We are doing four fan festivals this year. We did one in Shanghai, one in Marseilles, we will be doing them in Milan and Miami. Running cars in the street and bringing the show to the people. The heritage circuits are ridiculously important to us and we want to retain those. We also have a number of purpose-built tracks, from Austin to Bahrain and Shanghai, that we want to keep. Right now, we only race truly in the streets in Singapore and Monaco. Looking at places like Miami or London, the iconography from a television standpoint is absolutely extraordinary.
On being relevant
One of the things we are trying to do is pivot Formula 1® from a motorsport company to a media and entertainment brand. At the same time, we want the heart, the soul and the passion of a race car driver in the middle of that. Every conversation that we have at Formula 1, we put the fan in the middle of the table. How will this decision impact the fan experience? If we are not serving our fans or growing our fan base, we are not being relevant. We compete for fans attention, for their pocket books, for their eyeballs, for their share of voice, every single day. Whether it’s against a movie, the World Cup, or the opera, we want to be relevant in an environment that is much more entertainment-driven. People will pay and invest in experiences, provided that the value we are giving them is commensurate with the investment.
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