"I'm not interested in tweeting, Facebook and whatever this nonsense is," said Ecclestone in the interview, where he talks about F1's financial problems and the future direction of the sport.
"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?"
Asked if he believed there was no value in attracting a young audience, Ecclestone said: "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.
"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.
"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."