Rogers Communication (NYSE:RCI) and SenseNet have announced a new initiative to enhance wildfire detection in Canada, focusing on 10 communities to improve safety for both residents and first responders. SenseNet will deploy its AI-driven solutions across Alberta and British Columbia, starting with the implementation of these systems in various communities.
Leveraging RCI's robust 5G network, SenseNet's technology will utilize sophisticated gas sensors, smoke detection cameras and AI algorithms to offer precise and timely alerts for wildfire incidents.
The first phase of this deployment will target Sparwood and Willowvale in British Columbia, along with Christina Lake, Grand Prairie, Jasper, Marmot Mountain, Peerless Lake, Pelican Mountain, Wabasca-Desmarais and Wood Buffalo in Alberta, with installation expected to be completed by early spring.
In addition to this partnership, Rogers Communication is collaborating with the University of British Columbia and BC Wildfire Service to monitor wildfire conditions using 5G sensors. The company has already installed 5G-powered Pano AI cameras on wireless towers in Kelowna and Prince George.
RCI's Other Partnerships to Aid Subscriber Growth
RCI has entered into some notable partnerships with Comcast (NASDAQ:CMCSA), Disney (NYSE:DIS) and Warner Bros. Discovery (NASDAQ:WBD), which are expected to aid subscriber growth in the upcoming quarters.
The Zacks Consensus Estimate for RCI's 2024 wireless total postpaid subscribers is pegged at 11.12 million, indicating year-over-year growth of 5.9%. The consensus estimate for wireless total prepaid subscribers is pegged at 1.152 million, indicating year-over-year growth of 3.7%.
Starting in September 2024, Rogers Communication will introduce NBCUniversal's Bravo channel in Canada, becoming the exclusive English-language rights holder for the network's unscripted programming, including new seasons of Bravo's popular franchise series.
RCI will also become the exclusive Canadian home for Warner Bros. Discovery's English-language lifestyle and factual brands, such as HGTV and The Food Network. This partnership aims to deliver a diverse range of the U.S. lifestyle content to Canadian audiences through Rogers Communication's platforms and distribution partners, ensuring the wide availability of these popular channels.
Additionally, Rogers Communication has partnered with Disney Entertainment to offer the ad-supported version of Disney+ at no extra cost to Rogers TV customers. This integration enhances RCI's entertainment packages by including Disney+ content, which features movies and shows from Disney, Pixar, Marvel, Star Wars and National Geographic, along with exclusive originals. This partnership reflects the company's commitment to delivering greater value and a seamless viewing experience to its customers.
Conclusion
Shares of this Zacks Rank #3 (Hold) company have plunged 15.3% year to date compared with the Zacks Computer and Technology sector's decline of 6.2%. This underperformance can be attributed to intense wireless competition from TELUS, BCE and other small regional carriers.
RCI has a strong partner base but faces headwinds from softness in the advertising market. To remain competitive, the company needs to invest heavily in new TV programs and TV channels. This may result in considerable cash drain from Rogers Communication's balance sheet.
The Zacks Consensus Estimate for RCI's third-quarter 2024 earnings per share is pegged at $1.03, which has remained unchanged in the past 60 days. The consensus mark for 2024 earnings is pegged at $3.58 per share, which has decreased 8 cents in the past 60 days.