Tata Communications spurts over 4% on multi-year strategic collaboration with F1

16 Mar 2022 , 02:32 PM

Formula 1 and Tata Communications Limited — a global digital ecosystem enabler powering the fast-growing digital economy, today announced 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-recognized 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%.

The company stock saw buying activity on Wednesday. Ataround 2.05 pm, Tata Communications Ltd was trading at Rs1,174.80 per piece up by Rs49.1 or 4.36% from its previous closing of Rs1,125.70 per piece on the BSE.

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 NetZero 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 recognized 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.