Left Menu
Development News Edition

Tata Communications ends partnership with Formula 1


Tata Communications ends partnership with Formula 1
Representative image Image Credit: Pixabay

The sole Indian presence on the Formula 1 grid has ended with the sport's connectivity partner, Tata Communications, deciding to end its sponsorship agreement after an eight-year association. A source close to the Indian company confirmed the development to PTI.

"Yes, both Tata Communications and Formula 1 have ended their partnership. The sponsorship deal ended on December 31," the source said. Amit Sinha Roy, Vice President (Marketing) at Tata Communications, said the time has come to explore "other platforms".

"We have decided to bring to a close our marketing partnership with F1 and explore other platforms that will allow us to showcase the full power of our digital services to our key customers," he said in a statement to PTI. "We are proud of the fact that for eight years, we played central role in the digital transformation of F1 and its entire ecosystem: enabling the organisation that runs the sport, Formula 1, to innovate...

"...Helping the reigning world champions Mercedes-AMG Petronas Motorsport to win; and working with 20+ broadcasters to bring the action to millions of fans worldwide," said Roy. The Pune-based provider of telecommunications solutions and services contributed significantly to sport's digital transformation. Tata Communications also worked extensively with champion outfit Mercedes, who have been winning the Formula 1 constructors' title since 2014.

Besides Mercedes, Tata has also worked with Williams, as recently as last season, besides broadcasters like Sky. "Our work in F1 also paved the way for new customer relationships with leading broadcasters like Sky and Star Sports – to which we remain committed," Roy added.

Under new owners Liberty Media, which took over in January 2017, Formula 1 has embarked on an intense digital journey in times when more people are live streaming race content than watching it live on television. In 2018, Formula 1 introduced a television subscription streaming service with an aim to engage 500 million fans worldwide.

Tata was the sole remaining Indian presence in the sport following the unceremonious exit of Vijay Mallya from Force India (now called Racing Point) in 2017. The last Indian to race in Formula 1 was Narain Karthikeyan who drove for the defunct HRT squad in 2012. The only other Indian to have reached the pinnacle of motor racing is Karun Chandhok.

India hosted a Formula 1 race for three years (2011-2013), at the Buddh International Circuit in Greater Noida, before it was dropped from the calendar due to financial and taxation issues. According to Forbes magazine, Tata Communications was paying Formula 1 USD 4 million annually as part of the deal.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

Beware! Maximum cyber criminals eye your personal data

A report of the World Economic Forum revealed that cyber security is increasingly becoming an issue of public security as the majority of cyber criminals are increasingly targetting individual internet users. This requires preventive measur...

WEF 2020: Trump seems politically correct in pulling out from Paris Agreement

If the survey of the World Economic Forum WEF is believed, Trump seems to enjoy the confidence of his people in flaying climate intuitions and climate activists. His preference for economic development over environmental protection not only...

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

Videos

Latest News

Xi says China battling 'demon' as death toll due to virus outbreak rises to 106

Chinese President Xi Jinping on Tuesday called the coronavirus a demon which should be brought under control as he met the World Health Organisation chief who assured all necessary help to contain the virus outbreak that has killed 106 peop...

BRIEF-White House Considers China Travel Restrictions - CNBC

Jan 28 Reuters - WHITE HOUSE CONSIDERS CHINA TRAVEL RESTRICTIONS - CNBC CITING SOURCES Source text httpscnb.cx36B9vMg...

IndiGo suspends stand-up comedian from flying for 6 months

IndiGo on Tuesday suspended stand-up comedian Kunal Kamra from flying with the private airline for six months after he allegedly heckled journalist Arnab Goswami aboard one of its planes from Mumbai to Lucknow. In light of the recent incide...

Wong Wing Ki Vincent, Beiwen Zhang guide Awadhe Warriors to maiden win

Former world No. 10 Wong Wing Ki Vincent continued his winning streak while Beiwen Zhang also dazzled as Awadhe Warriors defeated Mumbai Rockets for their maiden victory in the ongoing Premier Badminton League here on Tuesday. Vincent beat ...

Give Feedback