Stefano Domenicali: We are changing the paradigm of Formula 1

      Stefano Domenicali, President and CEO of Formula 1, was a special guest at the Brand Connection conference organized in Milan by Deloitte, one of the world’s leading auditing and consulting firms. In his speech he once again expressed confidence that the organizers of the world championship have chosen the right development trajectory.

      “We try to innovate in all aspects that fall within our sphere of influence,” Domenicali said. “In sporting terms this is happening thanks to the holding of sprint races. The weekend format was changed to attract a wider audience, and different approaches to organizing the events that take place on track could be applied.

      We are introducing new forms of communication with fans, for which we use various methods that foster an ever-closer connection with young people. In this respect we successfully interpret existing trends, and this allows our sporting platform to become more popular than ever before.

      We are seeing the growth of the fanbase. Naturally, its core consists of people who have always been and remain Formula 1 fans – thanks to our ability to present information correctly and to do so in different ways.

      The point is that we always manage to appeal to those fans who are interested in the technical side of motorsport, because this is above all a competition that takes place on the racetrack, and this aspect remains the most important for us.

      It is most difficult to ensure that our project retains significance for the public in all its dimensions. For this, in the coming years we will strive to be leaders in the technological field, because we are moving to a new technical regulation that involves the use of environmentally sustainable fuel.

      Another aspect is related to the entertainment side of the sport. It should be manifested on an ever larger scale so that our fans who come to the races receive a unique experience, and we also ensure this by developing various forms of communication with the audience.

      Formula 1 was one of the first to feel the changes that are taking place in culture. If the championship had remained in its original form, our sport would have ceased to exist. But in order to maintain its relevance to the audience, you have to be able to listen to it – we are obliged to heed the wishes of the fans. That is why we are changing the paradigm of Formula 1.”

      Domenicali was the team principal of Ferrari in 2007, when its driver last won the championship title – that was Kimi Räikkönen. When the President of Formula 1 was asked to share his memories of that day, he said: “If you become part of the Ferrari family, it is always associated with unique memories. Many years have passed since that day, but it feels as if it were yesterday.

      I hope we will soon witness such happy moments again, because Ferrari has the richest historical heritage, which holds a special place in the hearts of Italians.”