Viasat Introduces Business Choice Internet Service Plans with Up To 100 Mbps Coast-to-Coast

Rhea-AI Summary

Viasat, Inc. (NASDAQ: VSAT) introduces Business Choice internet service plans, offering small-to-medium businesses coast-to-coast access to high-speed and reliable connectivity. The new business-grade plans will deliver quality, high-speed internet service with download speeds up to 100 Mbps coast-to-coast and up to 150 Mbps in select areas, empowering business owners to embrace the latest digital technology to help competitively position their business, including those located in rural America. Viasat's Business Choice internet service plans are available today, addressing the lack of broadband access in rural areas and the eagerness of small businesses to embrace connectivity.

Insights

Telecommunications Industry Analyst

The introduction of Viasat's Business Choice internet service plans is a significant development for the telecommunications sector, particularly for small-to-medium businesses (SMBs) in rural America. The provision of high-speed internet up to 150 Mbps in select areas is a competitive move that addresses the digital divide and the connectivity challenges faced by SMBs in less accessible locations. This enhancement in service could potentially increase Viasat's market share in the business segment and strengthen its position as a key player in satellite communications.

From a financial perspective, the expansion of services could lead to an increase in revenue streams for Viasat, as high-speed internet is a critical service for businesses today. The ability to offer faster speeds than previous plans might attract new customers and retain existing ones, contributing to the company's growth. It is also important to consider the operational costs associated with deploying these services and whether the pricing strategy will be sustainable and profitable in the long run.

Financial Analyst

For investors, Viasat's announcement could be seen as a positive indicator of growth potential. The focus on underserved rural markets taps into a niche yet necessary segment, which could translate into an untapped revenue source. The enhanced service offering might also reflect on the company's stock performance, as investors typically favor companies with a clear strategy for growth and market expansion. However, it is crucial to monitor the adoption rate of the new service plans and customer satisfaction to gauge the success of this strategic move.

Furthermore, investors should consider the competitive landscape, including the presence of traditional ISPs and emerging technologies such as 5G, which may influence Viasat's market position and pricing power. The long-term sustainability of Viasat's growth hinges on its ability to maintain a technological edge and offer services that are both high-quality and cost-effective.

Rural Economic Development Expert

The availability of high-speed internet is a cornerstone of economic development in rural areas, where broadband access is often limited. Viasat's initiative could have a substantial impact on local economies by enabling SMBs to operate more efficiently and leverage digital tools that were previously inaccessible. This could lead to increased productivity, access to new markets and even job creation in rural communities.

However, the success of this initiative will depend on the affordability and reliability of the service. If Viasat can ensure consistent service quality and competitive pricing, the Business Choice plans could significantly contribute to closing the rural-urban digital divide, fostering economic growth and innovation in traditionally underserved areas.

New Business Plans Deliver Up To 150 Mbps in Select Areas, Business-class Support and Professional Installation

CARLSBAD, Calif., Dec. 20, 2023 /PRNewswire/ -- Viasat, Inc. (NASDAQ: VSAT), a global leader in satellite communications, today introduced its Business Choice internet service plans, offering small-to-medium businesses coast-to-coast access to high-speed and reliable connectivity, allowing business customers, even in the hardest-to-reach locations where terrestrial-based internet is unavailable, to take advantage of critical business tools. Viasat's new business-grade plans will deliver quality, high-speed internet service that empowers business owners to embrace the latest digital technology to help competitively position their business, including those located in rural America. Viasat Business Choice plans offer faster speeds than any of the company's previous business plans including download speeds up to 100 Mbps coast-to-coast and up to 150 Mbps in select areas. Viasat's Business Choice internet service plans are available today.

According to the Small Business Administration, there are approximately 32 million small businesses in the U.S. Some rural areas continue to lack access to broadband, which hamper operations for small businesses in those areas. A Google sponsored survey of small businesses with fewer than 250 employees found that 8 percent of small businesses lack adequate access to broadband. However, small businesses are eager to embrace connectivity and are more positive about the economy and their overall business health this quarter, according to the Small Business Index Q3 2023. Currently, one-third (33%) of small businesses say the U.S. economy is in good health, a nine-percentage point increase from last quarter. A similar number (38%) feel the same about their local economy (up eight percentage points from Q2). Small businesses are also feeling better about their business health and cash flow. In addition to increasing optimism about the local and national economies, small businesses remain optimistic about future revenues, and many have plans to increase investment and hiring.

Viasat's new Business Choice service plans will provide access to critical broadband speeds to help enable efficient business operations, power unified communications like VoIP and video conferencing to stay connected with clients and staff, reach a global customer base and access critical business tools. In today's small-to-medium business market, access to cloud-based applications and software, such as accounting software for payroll, and uploading and storing large documents and data can help business owners create a competitive edge. Just as important, business customers require true resiliency in their networks to ensure business continuity during traumatic weather events and network outrages – both of which are on the rise. Viasat's Business Choice plans offer a backup service plan that delivers peace of mind for business owners.

All Viasat Business Choice plans come with built in Wi-Fi, professional installation, and business-class support with live agents. Designed for businesses and included in most plans, Unlimited Office Hours give businesses the ability to use many popular business apps without using data, and Viasat's network is optimized for third-party VoIP platforms to support voice service. Additional Business Choice add-ons include Viasat Voice for Business, Data Boost which provides the option to purchase more high-speed data and Static IP address for businesses that host their own website, use security cameras, or require remote access.

Steven Mesnick, general manager of U.S. broadband at Viasat, commented, "We've been working closely with our business customers to understand their specific needs and have created new business-grade internet service plans to meet those needs. The new Business Choice plans offer the speed and data necessary to create new opportunities for small-to-medium businesses to compete and succeed."

Viasat is a proud participant in the FCC's Connect America Fund Phase II Auction Program (CAF II) and offers plans with discounted business internet service to qualifying service areas. For more information about Viasat's new Business Choice internet plans, please click here.

About Viasat
Viasat is a global communications company that believes everyone and everything in the world can be connected. With offices in 24 countries around the world, our mission shapes how consumers, businesses, governments and militaries around the world communicate and connect. Viasat is developing the ultimate global communications network to power high-quality, reliable, secure, affordable, fast connections to positively impact people's lives anywhere they are—on the ground, in the air or at sea, while building a sustainable future in space. On May 30, 2023, Viasat completed its acquisition of Inmarsat, combining the teams, technologies and resources of the two companies to create a new global communications partner. Learn more at www.viasat.com, the Viasat News Room or follow us on Facebook, Instagram, LinkedIn, X or YouTube.

Copyright © 2023 Viasat, Inc. All rights reserved. Viasat, the Viasat logo and the Viasat Signal are registered trademarks in the U.S and in other countries of Viasat, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.

Forward-Looking Statements
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements include, among others, statements that refer to the speed, reliability, data, coverage, features and other benefits of the Business Choice internet plans. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: our ability to realize the anticipated benefits of the ViaSat-3 class satellites and any future satellite we may construct or acquire; unexpected expenses related to our satellite projects; our ability to successfully implement our business plan for our broadband services on our anticipated timeline or at all; capacity constraints in our business in the lead-up to the launch of services on our ViaSat-3 satellites; risks associated with the construction, launch and operation of satellites, including the effect of any anomaly, operational failure or degradation in satellite performance; our ability to successfully develop, introduce and sell new technologies, products and services; changes in relationships with, or the financial condition of, key customers or suppliers; our reliance on a limited number of third parties to manufacture and supply our products; increased competition and other factors affecting the connectivity sector, generally. In addition, please refer to the risk factors contained in our SEC filings available at www.sec.gov, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update or revise any forward-looking statements for any reason.

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SOURCE Viasat, Inc.

FAQ

What did Viasat, Inc. (NASDAQ: VSAT) introduce?

Viasat, Inc. introduced its Business Choice internet service plans, offering small-to-medium businesses coast-to-coast access to high-speed and reliable connectivity.

What are the download speeds offered in Viasat's new business-grade plans?

Viasat's new business-grade plans offer download speeds up to 100 Mbps coast-to-coast and up to 150 Mbps in select areas.

Who will benefit from Viasat's Business Choice internet service plans?

Small-to-medium businesses, including those located in rural America, will benefit from Viasat's Business Choice internet service plans.

What is the availability of Viasat's Business Choice internet service plans?

Viasat's Business Choice internet service plans are available today.

What is the current state of broadband access in rural areas?

Rural areas continue to lack access to broadband, hampering operations for small businesses in those areas.

What did a Google sponsored survey find about small businesses and broadband access?

A Google sponsored survey found that 8 percent of small businesses lack adequate access to broadband, but they are eager to embrace connectivity.