“People blame Bernie for not moving into social media. I don’t blame him at all because he can’t monetise it. You have TV stations and media partners who pay you for exclusive content so why do you want anything to do with social media making it for free.”
Those are the words of Mercedes F1 team boss Toto Wolff.
It is the clearest indication yet that while businesses around the world have grasped the benefits of social media for building brand reputation, increasing sales and dealing with customer complaints, F1 – the self-proclaimed cutting-edge of motorsport – is sadly archaic in its views.
Today I feel it necessary to dispel some of the myths about social media perpetuated by Bernie Ecclestone and senior figures in the F1 paddock, as frankly the fans deserve so much better that the cold indifference shown to them at present.
Media making money
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