We are joined by Sree Varma, Founder & CEO of iSportconnect, world’s largest private network for sport business executives, to talk about a digital café in the world of today’s motorsport.
The idea for the Digital Media Café came about with the ex-Red Bull head of digital channels David Granger. What we wanted to do was produce a show that simply looked at the new innovations in the digital world of sport. The concept is that it would be in a relaxed yet engaging setting, so viewers could feel like they are a part of the discussion and not just being talked at.
Social media is always changing, we are all constantly learning. It’s the first time I’ve been involved with something like this in a visual sphere, as our TV channel is relatively new.
Start from the epicentre of your business and work your way outwards.
It’s very exciting though because there are no limits to what you can do online. Obviously, you have to make it interesting for people to watch so that is why we prioritise quality content to make sure what we put out is not only time relevant but also an enticing product.
TV and especially digital TV are evolving. What I mean is that people are finding it easier to access TV content online. Invariably, what this might do is crowd the market. A lot of people have smartphones but soon you will have a lot of TV platforms vying for their attention.
What we try to do at iSportconnect is use every aspect of the business to inform each other, so that by talking to brands, rights-holders, sponsors and whoever else in our day-to-day dealings, our content team can stay up to date and even ahead of the curve. That is something completely unique about our business.
The sport of Formula 1
In many respects, there seems to be a fear of change in Formula 1. The sport should be more embracing of new technologies and give consumers more of an insight into the lives of drivers and teams.
The broadcasters do their best but it’s not strictly their job. Fans of the sport want to feel connected and included in the fun. More interaction on a consumer level would benefit the sport, rather than simply benefit a business-focused model.
Formula 1 obviously has a very big fan base and makes a lot of money with a lot of people putting incredibly hard work in. However, the sport seems to increasingly face criticism nowadays that it is becoming less exciting.
A certain amount of trial and error may benefit in the long run, only by trying new things will one see what works and what doesn’t.
The sport’s leadership should also remember what is the core part of the sport – who can drive their car the fastest around a certain course. Start from the epicentre of your business and work your way outwards.