You have to see it on a broader level. But you also have to activate it properly.

Just take the lack of presence of F1 in the United States. In theory - and logically - you would have an East Coast Grand Prix, a West Coast Grand Prix, and I think you should have a street race in Detroit - it is still the motor capital of the US. You stay in the US for four weeks and could have two to three races, certainly two.

The fast growing markets - the BRICS and Next Eleven - are the key. The next billion consumers are not going to come from the US or Western Europe - they are coming from Asia, Latin America and Africa. Formula One follows our strategy: fast growing markets, data, and digital. All those three things Formula One has. And it involves a stunning array of companies. Now that doesn't mean there can't be more.

When I think back to 2005, the fast growth markets - what we call the fast growth markets - were probably ten percent of our business. They are now 31 percent.

If you look at the sponsorship yields, Formula One - because it happens every year - generates more sponsorship money for a four-year cycle than anybody else. So it is very powerful.

Despite streaming, despite the rise of tablets and smartphones - all the implications which in theory would make linear TV less important - live sporting events are extremely powerful. But it's not the event alone - it's also what's surrounding it.

It is always easy to criticize, as Bernie Ecclestone is somebody with extreme opinions.