Bernie Ecclestone says "there's no point" in F1 trying to reach the young generation of fans, describing social media as "nonsense".

Concerns have been raised about declining television audiences and race attendances, with many teams struggling to find sponsors amid the rising costs of competing in the sport. However, Ecclestone feels trying to engage young fans is a mistake, as he wants to target "the 70-year-old guy who's got plenty of cash" due to the sponsors already involved in the sport.

"If you have a brand that you want to put in front of a few hundred million people, I can do that easily for you on television," Ecclestone told Campaign Asia-Pacific. "Now, you're telling me I need to find a channel to get this 15-year-old to watch Formula 1 because somebody wants to put out a new brand in front of them? They are not going to be interested in the slightest bit.

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"Young kids will see the Rolex brand, but are they going to go and buy one? They can't afford it. Or our other sponsor, UBS -- these kids don't care about banking. They haven't got enough money to put in the bloody banks anyway. That's what I think. I don't know why people want to get to the so-called 'young generation'. Why do they want to do that? Is it to sell them something? Most of these kids haven't got any money.

"I'd rather get to the 70-year-old guy who's got plenty of cash. So, there's no point trying to reach these kids because they won't buy any of the products here and if marketers are aiming at this audience, then maybe they should advertise with Disney."

And Ecclestone described social media as "nonsense" which he can't see being any benefit to the sport.

"I'm not interested in tweeting, Facebook and whatever this nonsense is. I tried to find out but in any case I'm too old-fashioned. I couldn't see any value in it. And, I don't know what the so-called 'young generation' of today really wants. What is it? You ask a 15 or 16-year-old kid, 'What do you want?' and they don't know.

"The challenge is getting the audience in the first place. I say to some of these people who start this nonsense about social media, look at what tobacco companies tried to do - get people smoking their brand early on because then people continue smoking their brand forever."

And asked about what is next for F1's future, Ecclestone said: "I hope it settles down and we're going to be able to retain the audience. We're never going to grow it."

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he's right about the future we fans are a shrinking breed young people do not care about Auto racing any kind of it Baby boomers Generation X were the last age groups that head counts went up ! the new Generations present and future don't show a growing interest in motorsports of much except maybe Motocross motorcycle racing . and maybe it's because of how they are presented, too long, too slow of a show ? Short attention spans ? BORING races for them I was sitting at turn 12 at COTA a few weeks ago 500.00 seats I thought Hamilton would pass Rosberg by out braking him there ! and he did ! after that allot of the younger fans texted away .they and we older people had nothing much to watch except other passes from 4th place on back . he is looking out for his future not the future of the sport.he is a very smart guy he does not care about the perceived future of F1

you young and up new comers show this geezer he and I are wrong keep on moving and shaking let them know with your wallet ,ideas, and attendance that we are wrong .action and individual ideas changes it all .stop F1 from it's death or let it die . make it for the masses like it used to be .

cont'd:

But with the vast number of alternative interests now available, motorsport needs to attract the young. Otherwise, once old farts like you and me are up (or down) there watching the likes of Nuvolari, Fangio, Clark, Hill (both Phil and Graham), James and, I suppose, Senna, there'll be no-one left down here to fill the stands, or pay the satellite fees.

richard - how old were you when you developed an interest in Motorsport? Me, I was in my very early teens - but I had absolutely no knowledge of the workings of the sport. That, I developed though reading MN and Autosport, as well as going to Brands for every possible meeting, later further afield.

I found I was welcomed as a fan/spectator wherever we (me and my mates) wandered at the circuits - there was none of the "exclusion" mentality that is so prevalant today. If we had been stopped from going into the paddock after the meetings, or met with resistance, we'd just have gone away and found another interest. Many $$$ (my keyboard doesn't do Stg) would have been lost to the sport from me, my mates, our families, (and a certain Rupert Mainwaring might have gone into another profession).

Society today is very different to how it was in the 60's, but my son's love of motorsport came from me. My grandson's interest is being nurtured by us. cont'd

I'll be over in the UK soon. While I'm there I will paint in 6 feet letters on the Biggin Hill runway

"Bernie - Please engage brain before opening mouth"