Red Bull confirms Oracle as new F1 title sponsor
The Milton Keynes based F1 outfit, Red Bull Racing has announced a new partnership with US tech giant Oracle which will result in the rebranding of the team as Oracle Red Bull Racing as of the 2022 F1 season.
Oracle Corporation, which is an American multinational computer technology corporation headquartered in Austin, Texas, began its first cooperation with Red Bull last season, allowing the team to increase the number of simulations they ran by 1,000x to improve the accuracy of their predictions and sharpen their decision-making. In addition, they accelerated simulation speed by 10x, which gave race strategists more time to make the right call. Equally important, OCI significantly reduced the cost of billions of simulations, allowing Red Bull to cost-effectively improve performance on the track, which is critical for success under F1’s stringent spending regulations.
The Milton Keynes based squad has now announced that OCI will enable it to expand the volume and variety of data they analyze and increase the speed at which simulations run in order to better predict tactics that will lead to the podium.
Along with its innovative on-track initiatives, Oracle Red Bull Racing will continue to deliver an exceptional experience to its global fan base. Last season, Oracle and Red Bull Racing launched a first-of-its-kind fan loyalty platform powered by OCI – The Red Bull Racing Paddock – to bring the excitement of F1 to fans all over the world. Since The Paddock’s inception, Red Bull Racing has seen a more than nine times increase in member sign-ups.
The new, direct line of communication between fans and the team has created outstanding engagement, with registered fans submitting thousands of questions to the team and redeeming 35,000 digital rewards. In 2022, Oracle Red Bull Racing will incorporate new features and capabilities, including the ability to create user-generated content, to bring an even deeper layer of personalization to fans.
Team Principal and CEO Christian Horner, said: “Oracle Cloud enabled us to make race-day decisions that helped Max Verstappen win the 2021 Drivers’ Championship. Discovering and reacting to opportunities quickly, is crucial to our success on and off the track, and Oracle is integral in that effort. Every element of our performance is driven by data analysis. Having Oracle as our title partner shows the confidence we have in their expertise and their ability to deliver a true competitive advantage.”
The Anglo-Austrian team's Chief Marketing Officer, Oliver Hughes, said: “The presence of Oracle, one of the world’s largest cloud technology companies, as title partner not only signals huge confidence in Red Bull Racing’s ability to lead the technology race on track, it will also enable us to drive forward our ambitions for fan engagement, a core tenet of our marketing strategy.
"We want to take fans with us on our competitive journey in F1, putting them right at the heart of the racing action and Oracle’s world class innovation and technology will help us achieve that goal."
Oracle Executive Vice President and Chief Marketing Officer, Ariel Kelman, said: “Red Bull Racing has been more committed than any other F1 team in its use of technology to gain an edge, and it is paying off. Our commitment to this partnership reflects our belief that OCI is a strategic weapon on race day, helps create the most exciting fan experience in sports, and can define the future of F1. Oracle Red Bull Racing is, and will continue to be, the most forward-thinking and innovative F1 team in the world.”
