Formula 1 and Tata Communications announce multi-year strategic collaboration
LONDON and MUMBAI, India, March 17, 2022 /PRNewswire/ -- Formula 1® and Tata Communications – a global digital ecosystem enabler powering the fast-growing digital economy, today are delighted to announce a multi-year strategic collaboration, with Tata Communications returning to sport as the Official Broadcast Connectivity Provider of Formula 1, to deliver and enhance a world-class, technologically advanced experience for fans globally.
As the 'Official Broadcast Connectivity Provider', Tata Communications to transform motorsports with innovative fan experiences
LONDON and MUMBAI, India, March 17, 2022 /PRNewswire/ -- Formula 1® and Tata Communications – a global digital ecosystem enabler powering the fast-growing digital economy, today are delighted to announce a multi-year strategic collaboration, with Tata Communications returning to sport as the Official Broadcast Connectivity Provider of Formula 1, to deliver and enhance a world-class, technologically advanced experience for fans globally.
Tata Communications will empower Formula 1 with global end-to-end managed network services for video contribution, thereby transforming the motorsports experience. For this, the company will facilitate the transfer of more than 100 video feeds and over 250 audio channels to be transmitted between the Grand Prix venue and F1's Media & Technology Centre in the UK every race weekend in under 200 milliseconds, enabling F1 to broadcast to over 500 million fans in 180+ territories globally.
Tata Communications' industry-recognised and built-for-media connectivity solutions will enable Formula 1 to transform the broadcast content production worldwide while continuing to support the sport's drive for agility and sustainability. Following the introduction of Formula 1's remote broadcast operations in 2020, Tata Communications has allowed reduction in the organisation's travelling freight by 34%.
Stefano Domenicali, President & CEO of Formula 1, said "We are delighted to welcome Tata Communications back as a partner following previous successes in our partnerships. They have been an integral part of our growth journey over the last decade, and we completely trust their expertise and abilities to deliver what we need for our fans. This trust has been built over many years of working together, pushing forward advancements in technology in sport – on and off the track. Tata Communications' connectivity continues to support F1's drive for agility and sustainability with remote production introduced in 2020 - part of our aim to be Net-Zero Carbon by 2030. We are excited to grow together in the future and share the incredible journey Formula 1 is on."
"As businesses evolve to a digital-first model, I believe the sporting world also has a great opportunity to leverage technology for delivering innovative and exhilarating experiences to motorsports enthusiasts," said Amur S Lakshminarayanan, MD and CEO, Tata Communications. "And, Formula 1 is at the core of all things speed, action and thrill. We are delighted to renew our relationship and empower Formula 1's tomorrow, today!"
Recently, Tata Communications has been recognised as a 'Major Player' in IDC MarketScape for Worldwide Commercial Content Delivery Network Services 2022 Vendor Assessment.
Tata Communications continues to develop new and innovative digital-first media & entertainment services, enabling an end-to-end platform play for immersive fan experiences. The Company also expanded its bandwidth capacity or media backbone to 100G driving innovations in video, remote production and more.
About Formula 1
Formula 1® racing began in 1950 and is the world's most prestigious motor racing competition, as well as the world's most popular annual sporting series. Formula One World Championship Limited is part of Formula 1® and holds the exclusive commercial rights to the FIA Formula One World Championship™. Formula 1® is a subsidiary of Liberty Media Corporation (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) attributed to the Formula One Group tracking stock. The F1 logo, F1 FORMULA 1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX, PADDOCK CLUB and related marks are trademarks of Formula One Licensing BV, a Formula 1 company. All rights reserved.
About Tata Communications
A part of the Tata Group, Tata Communications (NSE: TATACOMM; BSE: 500483) is a global digital ecosystem enabler powering today's fast-growing digital economy in more than 190 countries and territories. Leading with trust, it enables digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services. 300 of the Fortune 500 companies are its customers and the company connects businesses to 80% of the world's cloud giants. For more information, please visit www.tatacommunications.com
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Forward-looking and cautionary statements
Certain words and statements in this release concerning Tata Communications and its prospects, and other statements, including those relating to Tata Communications' expected financial position, business strategy, the future development of Tata Communications' operations, and the general economy in India, are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, including financial, regulatory and environmental, as well as those relating to industry growth and trend projections, which may cause actual results, performance or achievements of Tata Communications, or industry results, to differ materially from those expressed or implied by such forward-looking statements. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, failure to increase the volume of traffic on Tata Communications' network; failure to develop new products and services that meet customer demands and generate acceptable margins; failure to successfully complete commercial testing of new technology and information systems to support new products and services, including voice transmission services; failure to stabilize or reduce the rate of price compression on certain of the company's communications services; failure to integrate strategic acquisitions and changes in government policies or regulations of India and, in particular, changes relating to the administration of Tata Communications' industry; and, in general, the economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Tata Communications' control, include, but are not limited to, those risk factors discussed in Tata Communications Limited's Annual Reports.
The Annual Reports of Tata Communications Limited are available at www.tatacommunications.com. Tata Communications is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements.
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