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MarketScreener Homepage  >  Equities  >  Nyse  >  General Motors Company    GM

GENERAL MOTORS COMPANY

(GM)
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General Motors : Surpassing 1 Million Wi-Fi Subscriptions, General Motors Adds Content and Choices; WarnerMedia RIDE app brings new streaming entertainment for passengers

10/21/2020 | 11:52am EST

DETROIT - In September 2020, General Motors crossed a new milestone as the first automaker with more than 1 million subscribers to its Wi-Fi-enabled data services provided by AT&T. The company initially launched a broad rollout of 4G LTE connectivity across Chevrolet, Buick, GMC and Cadillac models in the U.S. and Canada starting in 2014, transforming connected car capability and adding in-vehicle Wi-Fi for customers.

In-vehicle Wi-Fi can bring new value to vehicle owners in good times and bad, powering streaming audio apps on a daily commute, enabling kids' games and video calls on road trips, or serving as a reliable link to the outside world when Mother Nature knocks out residential power. Complimentary in-vehicle Wi-Fi data services1 for introductory plans have become a key component of OnStar Crisis Assist, serving GM customers impacted by disasters. Earlier this year, approximately 180,000 drivers in the U.S. and Canada enrolled in Crisis Assist to help navigate the early months of the COVID-19 pandemic.

Trucks and three-row SUVs are consistently the most popular for Wi-Fi usage, and with new 2021 models of the Chevrolet Tahoe, Chevrolet Suburban, GMC Yukon and Cadillac Escalade launching this fall, new content choices will bring more value to families using streaming services. Available now in the App Store and Google Play for all U.S. unlimited data plan subscribers, the WarnerMedia RIDE app brings a unique smartphone or tablet experience with access to video content from Bleacher Report, Cartoon Network, CNN, HBO, TBS, TNT, truTV, Warner Bros. Television as well as other WarnerMedia content.

Chevrolet, Buick, GMC and Cadillac vehicles are among the first in the industry to offer WarnerMedia RIDE, which functions similar to in-flight entertainment platforms offered by some airlines. When a tablet or smartphone is connected to an in-car Wi-Fi hotspot, live and on-demand entertainment options are available to passengers via the WarnerMedia RIDE app.

Next year, GM and AT&T plan to add HBO Max to a unique premium bundle of streaming content to complement the WarnerMedia RIDE and in-vehicle Wi-Fi offering. HBO Max offers more than 10,000 hours of curated premium content from HBO, Warner Bros. and other world-class storytelling brands.

'Being a leader in connected vehicles means constant innovation, listening to customers, and taking an inclusive approach by partnering with others who bring great entertainment and customer experiences into our vehicles,' said Santiago Chamorro, GM vice president of Global Connected Services. 'One million data subscribers is much more than just a number. It represents countless road trips where kids aren't asking, 'Are we there yet,' and people using their vehicles as classrooms and home offices just to make life a bit smoother. We're motivated to empower even more people moving forward.'

'Connectivity is at the heart of today's driving experience,' said Joe Mosele, vice president, AT&T Global Business Solutions. 'We are incredibly excited to bring a fast and reliable Wi-Fi experience to millions of GM customers combined with some of WarnerMedia's most iconic brands and content libraries for more entertainment on the go.'

Earlier in 2020, GM also added new Wi-Fi-enabled features, including the broad rollout of Amazon Alexa Built-in, allowing customers to access a whole range of Alexa skills and capabilities on the go. Chevrolet, Buick, GMC and Cadillac vehicles also became the first to offer an embedded RADIO.com app. RADIO.com is the exclusive digital home for all Entercom content across 230 stations, thousands of podcasts, live and on-demand video, and premium content across local and national news, entertainment, music and sports in markets across all the U.S.

1Limited time offer. Services provided by OnStar in its sole discretion. Data plans provided by AT&T. Services are subject to Terms and limitations, and capabilities vary by vehicle model. Service varies with conditions and location. See onstar.com for details and limitations.

General Motors (NYSE:GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Holden, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at http://www.gm.com.

AT&T Inc. (NYSE:T) is a diversified, global leader in telecommunications, media and entertainment, and technology. WarnerMedia is a leading media and entertainment company that creates and distributes premium and popular content to global audiences through its consumer brands, including: HBO, HBO Max, Warner Bros., TNT, TBS, truTV, CNN, DC Entertainment, New Line, Cartoon Network, Adult Swim and Turner Classic Movies. Xandr, now part of WarnerMedia, provides marketers with innovative and relevant advertising solutions for consumers around premium video content and digital advertising through its platform. AT&T Communications provides more than 100 million U.S. consumers with entertainment and communications experiences across TV, mobile and broadband. Plus, it serves high-speed, highly secure connectivity and smart solutions to nearly 3 million business customers. AT&T Latin America provides pay-TV services across 10 countries and territories in Latin America and the Caribbean and wireless services to consumers and businesses in Mexico.

AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information is available at about.att.com. 2020 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

WarnerMedia is a leading media and entertainment company that creates and distributes premium and popular content from a diverse array of talented storytellers and journalists to global audiences through its consumer brands including: HBO, HBO Now, HBO Max, Warner Bros., TNT, TBS, truTV, CNN, DC, New Line, Cartoon Network, Adult Swim, Turner Classic Movies and others. WarnerMedia is part of AT&T Inc. (NYSE:T).

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
AT&T INC. 0.14% 29.03 Delayed Quote.-25.72%
GENERAL MOTORS COMPANY -0.88% 45.06 Delayed Quote.23.11%
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Financials (USD)
Sales 2020 121 B - -
Net income 2020 5 499 M - -
Net cash 2020 5 923 M - -
P/E ratio 2020 11,3x
Yield 2020 0,86%
Capitalization 64 495 M 64 495 M -
EV / Sales 2020 0,48x
EV / Sales 2021 0,41x
Nbr of Employees 164 000
Free-Float 92,8%
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 47,94 $
Last Close Price 45,06 $
Spread / Highest target 59,8%
Spread / Average Target 6,39%
Spread / Lowest Target -40,1%
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Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Mark L. Reuss President
John Stapleton Chief Financial Officer
Randall D. Mott Chief Information Officer
Matthew Tsien Chief Technology Officer & Executive VP
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