NEW YORK (Reuters) - AT&T Inc will kick off its home security and monitoring service in 15 U.S. markets on Friday, seeking to develop revenue streams beyond cellphone services.
The No. 2 U.S. mobile service provider expects its Digital Life service to eventually bring in $1 billion in annual revenue.
While AT&T, which reported first quarter revenue of $31.4 billion, still sells a lot of smartphones, growth in this sector is slowing for operators and AT&T posted a net loss of phone subscribers in the first quarter. Cable rival Comcast Corp is also offering home security services in an effort to broaden revenues.
After its initial launch in cities including Atlanta, Chicago, Dallas, Denver and San Francisco, AT&T said it will bring the service to as many as 50 U.S. markets by the end of 2013.
For AT&T's most basic home security service, it will charge $29.99 a month and an additional $149.99 fee for equipment and its installation. Comcast's lowest listed price for its security service is $39.95 per month.
Additional options include motion sensors, smoke sensors, live video streaming from the house, water leak detection and remote control of appliances, lights, doors and thermostats.
(Reporting by Sinead Carew and Liana Baker; Editing by Edwina Gibbs)