Outlining GM's Subscription Business Roadmap

General Motors Co GM sees its in-car subscription services to generate $2 billion in revenue in 2021 and will reach $25 billion by the end of the decade.
The feat will help the automaker reach the scales of Netflix Inc NFLX, Peloton Interactive Inc PTON, and Spotify Technology SA SPOT TechCrunch reports.
GM has 16 million vehicles on the road in the U.S. and Canada, and around 4.2 million out of them avail themselves of subscription services.
GM sees the numbers growing, mainly as it aims to launch its Ultifi end-to-end software platform in 2023.
GM’s current subscription platform supports services like OnStar, a subsidiary that provides in-vehicle security, emergency services, and navigation. GM admitted high customers’ average willingness to select multiple services.
GM sees 30 million of its vehicles in the U.S. possessing connected car technology by 2030, reaching a serviceable addressable market of $80 billion.
GM aims to generate additional incremental revenue of $20 billion - $25 billion, including $6 billion from insurance and the rest from one-time purchases and subscriptions.
Related Content: Street May Not Expect GM To Be Able To Compete With Tesla In EV World But Wedbush Says Target To Double Revenue By 2030 ‘Achievable And Beatable’
Price Action: GM shares traded higher by 1.72% at $54.86 in the premarket session on the last check Thursday.
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