Benzinga | Oct 7, 2021 09:29AM EDT

Outlining GM's Subscription Business Roadmap

* General Motors Co (NYSE: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 (NASDAQ: NFLX), Peloton Interactive Inc (NASDAQ: PTON), and Spotify Technology SA (NYSE: 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.

* Photo by Kevauto via Wikimedia