Liberty Global plc (LBTYK): Business Model Canvas

In der dynamischen Welt der Telekommunikation erweist sich Liberty Global plc (LBTYK) als Kraftpaket, das ein komplexes Geflecht aus digitaler Konnektivität und Unterhaltung webt. Dieser globale Telekommunikationsriese hat sorgfältig ein Geschäftsmodell entwickelt, das über die traditionelle Bereitstellung von Dienstleistungen hinausgeht und modernste Technologie mit strategischen Partnerschaften verbindet, um die Art und Weise zu revolutionieren, wie Verbraucher und Unternehmen digitale Kommunikation erleben. Durch die nahtlose Integration von Hochgeschwindigkeitsbreitband, umfassenden Unterhaltungspaketen und innovativen Technologielösungen hat sich Liberty Global als transformative Kraft in der Telekommunikationslandschaft positioniert und bietet personalisierte digitale Erlebnisse, die die Konnektivität im modernen Zeitalter neu definieren.

Liberty Global plc (LBTYK) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit Herstellern von Telekommunikationsgeräten

Liberty Global hat Partnerschaften mit wichtigen Herstellern von Telekommunikationsgeräten aufgebaut:

Partner	Gerätetyp	Vertragswert
Cisco-Systeme	Netzwerkinfrastruktur	325 Millionen US-Dollar (2023)
Nokia	5G-Netzwerkausrüstung	212 Millionen US-Dollar (2023)
Huawei-Technologien	Telekommunikationshardware	189 Millionen US-Dollar (2023)

Inhaltsanbieter und Medienunternehmen für digitale Unterhaltung

Liberty Global arbeitet mit mehreren Content- und Medienpartnern zusammen:

• Netflix – Streaming-Integrationspartnerschaft
• Disney+ – Vereinbarung zur Verbreitung von Inhalten
• Amazon Prime Video – Zusammenarbeit mit der Streaming-Plattform
• HBO Max – Lizenzierung von Premium-Inhalten

Anbieter von Netzwerkinfrastruktur- und Technologiediensten

Anbieter	Servicetyp	Jährlicher Vertragswert
Ericsson	Netzwerkinfrastruktur	276 Millionen US-Dollar (2023)
Akamai-Technologien	Content-Delivery-Netzwerk	142 Millionen US-Dollar (2023)
Lumen-Technologien	Cloud-Konnektivität	198 Millionen US-Dollar (2023)

Lokale Internet- und Mobilfunknetzbetreiber

Liberty Global unterhält strategische Partnerschaften mit regionalen Netzbetreibern:

• Vodafone – Europäische Netzwerk-Sharing-Vereinbarung
• Telefónica – Infrastrukturkooperation
• Deutsche Telekom – Grenzüberschreitende Netzdienstleistungen

Partner für Cloud-Services und Cybersicherheitstechnologie

Partner	Servicekategorie	Partnerschaftswert
Microsoft Azure	Cloud-Infrastruktur	412 Millionen US-Dollar (2023)
Palo Alto Networks	Cybersicherheitslösungen	167 Millionen US-Dollar (2023)
Wolkenflare	Netzwerksicherheit	98 Millionen US-Dollar (2023)

Liberty Global plc (LBTYK) – Geschäftsmodell: Hauptaktivitäten

Entwicklung der Telekommunikationsinfrastruktur

Liberty Global investierte im Jahr 2023 1,56 Milliarden US-Dollar in die Netzwerkinfrastruktur. Das Unternehmen betreibt Telekommunikationsinfrastruktur in sechs europäischen Ländern, darunter im Vereinigten Königreich, Belgien, den Niederlanden, Irland, der Schweiz und der Tschechischen Republik.

Land	Netzwerkabdeckung	Infrastrukturinvestitionen
Vereinigtes Königreich	95,3 % Breitbandabdeckung	542 Millionen US-Dollar
Belgien	89,7 % Netzwerkreichweite	310 Millionen Dollar
Niederlande	92,1 % Netzwerkdurchdringung	385 Millionen Dollar

Kabel- und Breitbandnetzwerkmanagement

Liberty Global verwaltet 21,7 Millionen Breitbandkunden in seinen europäischen Märkten. Das Unternehmen unterhält Glasfaser- und Hybrid-Faser-Koaxial-Netzwerke (HFC)..

• Gesamtzahl der Breitband-Abonnenten: 21,7 Millionen
• Durchschnittliche Netzwerkgeschwindigkeit: 500 Mbit/s
• Netzwerkzuverlässigkeit: 99,95 % Betriebszeit

Aggregation digitaler Unterhaltungsinhalte

Das digitale Unterhaltungsportfolio von Liberty Global umfasst 12,4 Millionen Videoabonnenten. Das Unternehmen aggregiert Inhalte über mehrere Plattformen und Streaming-Dienste.

Content-Plattform	Abonnenten	Jährliche Content-Investition
Virgin TV	5,6 Millionen	215 Millionen Dollar
Ziggo	4,2 Millionen	180 Millionen Dollar

Bereitstellung von Internet- und Mobildiensten

Liberty Global bietet Mobilfunkdienste über Partnerschaften und MVNO-Vereinbarungen (Mobile Virtual Network Operator) an. Das Unternehmen bedient im Jahr 2023 6,8 Millionen Mobilfunkkunden.

• Mobilfunkteilnehmer: 6,8 Millionen
• Mobiler Umsatz: 1,2 Milliarden US-Dollar
• Mobiler Datenverkehr: 45 Petabyte pro Monat

Technologieinnovation und Netzwerkerweiterung

Liberty Global stellte im Jahr 2023 780 Millionen US-Dollar für Technologieforschung und Netzwerkausbau bereit. Das Unternehmen konzentriert sich auf 5G-Infrastruktur und Konnektivitätslösungen der nächsten Generation.

Technologiefokus	Investition	Erwartete Bereitstellung
5G-Netzwerk	420 Millionen Dollar	2024-2025
Faserausbau	360 Millionen Dollar	2024-2026

Liberty Global plc (LBTYK) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Telekommunikationsinfrastruktur

Liberty Global betreibt eine umfassende Telekommunikationsinfrastruktur in mehreren europäischen Ländern:

Land	Netzwerkabdeckung	Haushalte bestanden
Vereinigtes Königreich	Virgin Media Network	15,5 Millionen
Belgien	Telenet-Netzwerk	3,2 Millionen
Irland	Virgin Media Irland	1,1 Millionen

Glasfaser- und Kabelnetz-Assets

Details zur Netzwerkinfrastruktur:

• Gesamtlänge des Glasfasernetzes: 126.000 Kilometer
• Kabelnetzwerkbandbreite: Bis zu 1,6 Gbit/s
• Netzwerktechnologie: DOCSIS 3.1 und Fiber-to-the-Home (FTTH)

Fortschrittliche digitale Technologieplattformen

Investitionen in die Technologieinfrastruktur:

• Jährliche Technologieinvestitionen: 1,2 Milliarden US-Dollar
• Digitale Plattformen: Cloudbasiertes Videostreaming
• Technologieplattformen: Hybride Glasfaser-Koaxial-Netzwerke

Fachkräfte für Telekommunikationstechnik

Mitarbeiterkategorie	Anzahl der Mitarbeiter
Gesamtbelegschaft	35,600
Ingenieursprofis	6,750
Mitarbeiter des technischen Supports	4,300

Erhebliches Finanzkapital für Investitionen

Finanzielle Ressourcenkennzahlen:

• Gesamtvermögen: 64,3 Milliarden US-Dollar
• Jährliche Investitionsausgaben: 3,8 Milliarden US-Dollar
• Zahlungsmittel und Zahlungsmitteläquivalente: 2,1 Milliarden US-Dollar

Liberty Global plc (LBTYK) – Geschäftsmodell: Wertversprechen

Hochgeschwindigkeits-Breitband-Internetdienste

Liberty Global bietet Breitband-Internetdienste in mehreren Märkten mit den folgenden Spezifikationen an:

Markt	Durchschnittsgeschwindigkeit	Breitband-Abonnenten
Vereinigtes Königreich	362 Mbit/s	5,4 Millionen
Belgien	275 Mbit/s	1,9 Millionen
Irland	289 Mbit/s	1,2 Millionen

Umfassende digitale Unterhaltungspakete

Zu den digitalen Unterhaltungsangeboten gehören:

• 4K Ultra HD-Kanäle: 157
• On-Demand-Inhaltsbibliothek: über 15.000 Titel
• Integration von Streaming-Plattformen: Netflix, Amazon Prime

Integrierte Telekommunikationslösungen

Details zum Convergent-Servicepaket:

Servicetyp	Marktdurchdringung	Durchschnittlicher monatlicher Umsatz
Triple Play	62%	€87.50
Quad-Spiel	38%	€112.75

Erweiterte Mobilfunk- und Festnetzkonnektivität

Kennzahlen zur Konnektivitätsinfrastruktur:

• 4G LTE-Abdeckung: 94 %
• 5G-Netzausbau: 47 Städte
• Reichweite Festnetz: 23,6 Millionen Haushalte

Personalisierte digitale Kundenerlebnisse

Statistiken zur digitalen Erlebnisplattform:

Funktion	Benutzerakzeptanz	Engagement-Rate
Mobile App	68%	42%
Personalisierte Empfehlungen	53%	36%

Liberty Global plc (LBTYK) – Geschäftsmodell: Kundenbeziehungen

Digitale Self-Service-Plattformen

Liberty Global bietet über seine MyVodafone-App und sein Online-Kundenportal digitale Self-Service-Plattformen an, die im Jahr 2022 47,3 Millionen digitale Interaktionen verarbeiteten. Die digitale Plattform unterstützt:

• Rechnungszahlung
• Servicemanagement
• Technische Supportanfragen
• Kontokonfiguration

Personalisierte Kundensupportkanäle

Support-Kanal	Jährliches Kontaktvolumen	Durchschnittliche Lösungszeit
Telefonsupport	12,6 Millionen Kontakte	8,2 Minuten
Live-Chat	3,4 Millionen Interaktionen	6,5 Minuten
E-Mail-Support	2,1 Millionen Kommunikationen	24 Stunden

Flexible Optionen zur Serviceanpassung

Liberty Global bietet 6 verschiedene Servicepaketstufen über ihre Telekommunikations- und Kabeldienste hinweg, sodass Kunden Folgendes individuell anpassen können:

• Konfigurationen der Internetgeschwindigkeit
• Auswahl der Senderpakete
• Mobile Datentarife
• Optionen zur Gerätebündelung

Treueprogramm und langfristige Kundenbindung

Das VIP-Treueprogramm umfasst 2,3 Millionen aktive Mitglieder und bietet:

• Gesammelte Prämienpunkte
• Exklusive Service-Upgrades
• Vorrangiger technischer Support
• Jährliche Geräterabatte

Proaktive technische Supportsysteme

Support-Funktion	Jährliche Leistungsmetrik
Automatisierte Netzwerküberwachung	99,7 % Netzwerkverfügbarkeit
Vorausschauende Wartung	78 % Reduzierung der Serviceunterbrechungen
Ferndiagnosefunktionen	62 % der Probleme wurden ohne Vor-Ort-Besuch gelöst

Liberty Global plc (LBTYK) – Geschäftsmodell: Kanäle

Digitale Online-Plattformen

Liberty Global betreibt die folgenden digitalen Kanäle:

Plattform	Aktive Benutzer	Monatlicher Verkehr
MyVodafone-Website	4,2 Millionen	12,6 Millionen einzelne Besucher
Liberty Globales Kundenportal	3,8 Millionen	9,4 Millionen monatliche Sitzungen

Physische Einzelhandelsgeschäfte

Liberty Global unterhält Einzelhandelspräsenz in mehreren Märkten:

• Gesamtzahl der Einzelhandelsstandorte: 287 physische Geschäfte
• Länder mit Einzelhandelspräsenz: Vereinigtes Königreich, Niederlande, Belgien, Irland
• Durchschnittliche Ladengröße: 180 Quadratmeter

Direktvertriebsmitarbeiter

Verteilung der Vertriebsmitarbeiter:

Vertriebskanal	Anzahl der Vertreter	Durchschnittlicher Umsatz pro Vertreter
Direktes B2C-Vertriebsteam	1,624	87.300 € pro Quartal
Unternehmens-B2B-Vertriebsteam	412	226.500 € pro Quartal

Mobile Anwendungsschnittstellen

Statistiken zu mobilen Anwendungen:

• Gesamtzahl der Downloads mobiler Apps: 6,3 Millionen
• Monatlich aktive Benutzer: 2,9 Millionen
• Unterstützte Plattformen: iOS, Android
• App-Store-Bewertungen: Durchschnittlich 4,2/5

Telekommunikations-Servicezentren

Aufschlüsselung der Kundendienstkanäle:

Servicekanal	Jährliches Kontaktvolumen	Durchschnittliche Reaktionszeit
Telefonsupport	14,6 Millionen Anrufe	12 Minuten
Online-Chat	7,2 Millionen Interaktionen	8 Minuten
E-Mail-Support	3,4 Millionen E-Mails	24 Stunden

Liberty Global plc (LBTYK) – Geschäftsmodell: Kundensegmente

Privatkunden mit Breitbandzugang

Im dritten Quartal 2023 bedient Liberty Global etwa 20,4 Millionen private Breitbandkunden in mehreren europäischen Märkten.

Markt	Breitband-Abonnenten	Durchschnittlicher Umsatz pro Benutzer (ARPU)
Vereinigtes Königreich	5,6 Millionen	38,50 € pro Monat
Belgien	3,2 Millionen	42,75 € pro Monat
Irland	1,8 Millionen	35,25 € pro Monat

Kleine und mittlere Unternehmen

Liberty Global bietet Telekommunikationsdienste für rund 350.000 kleine und mittlere Unternehmen an.

• Dedizierte Business-Konnektivitätslösungen
• Cloudbasierte Kommunikationsplattformen
• Cybersicherheitsdienste

Firmenkunden im Bereich Telekommunikation

Das Unternehmen bedient über 5.000 Firmenkunden in ganz Europa mit einer Telekommunikationsinfrastruktur auf Unternehmensebene.

Servicekategorie	Anzahl Firmenkunden	Jährlicher Vertragswert
Netzwerklösungen	2,750	185 Millionen Euro
Cloud-Dienste	1,500	95 Millionen Euro
Verwaltete IT-Dienste	750	62 Millionen Euro

Abonnenten digitaler Unterhaltung

Liberty Global hat in seinen operativen Märkten 11,6 Millionen Abonnenten digitaler Unterhaltung.

• Video-on-Demand-Dienste
• Streaming-Plattformen
• Premium-Inhaltspakete

Nutzer von Mobilfunk- und Festnetzkommunikation

Das Unternehmen bedient 8,3 Millionen Mobilfunk- und Festnetznutzer.

Kommunikationstyp	Abonnentenzahl	Marktdurchdringung
Mobile Benutzer	5,2 Millionen	62 % Marktanteil
Festnetzbenutzer	3,1 Millionen	38 % Marktanteil

Liberty Global plc (LBTYK) – Geschäftsmodell: Kostenstruktur

Wartung der Netzwerkinfrastruktur

Die Wartungskosten für die Netzwerkinfrastruktur von Liberty Global beliefen sich im Jahr 2023 auf insgesamt 1,85 Milliarden US-Dollar. Die Aufschlüsselung der Infrastrukturausgaben umfasst:

Kategorie „Infrastruktur“.	Jährliche Kosten
Modernisierung des Kabelnetzes	687 Millionen US-Dollar
Wartung der Ausrüstung	453 Millionen US-Dollar
Rechenzentrumsbetrieb	412 Millionen Dollar
Netzwerksicherheit	298 Millionen Dollar

Technologieforschung und -entwicklung

Die F&E-Ausgaben für Liberty Global beliefen sich im Jahr 2023 auf 412 Millionen US-Dollar, wobei die wichtigsten Schwerpunkte darin liegen:

• Entwicklung der Glasfasertechnologie: 156 Millionen US-Dollar
• Innovation der Streaming-Plattform: 98 Millionen US-Dollar
• Cybersicherheitstechnologien: 82 Millionen US-Dollar
• Integration von KI und maschinellem Lernen: 76 Millionen US-Dollar

Kosten für den Erwerb von Inhalten

Die Kosten für die Beschaffung von Inhalten beliefen sich im Jahr 2023 auf 1,27 Milliarden US-Dollar, verteilt auf:

Inhaltstyp	Jährliche Anschaffungskosten
Sportübertragungsrechte	487 Millionen US-Dollar
Originalprogrammierung	342 Millionen Dollar
Lizenzierung von Filmen und Serien	278 Millionen Dollar
Internationale Inhalte	163 Millionen Dollar

Vergütung und Schulung der Mitarbeiter

Die gesamten mitarbeiterbezogenen Ausgaben beliefen sich im Jahr 2023 auf 845 Millionen US-Dollar:

• Grundgehälter: 512 Millionen US-Dollar
• Leistungsprämien: 156 Millionen US-Dollar
• Mitarbeiterschulungsprogramme: 87 Millionen US-Dollar
• Gesundheitsversorgung und Sozialleistungen: 90 Millionen US-Dollar

Kosten für Marketing und Kundenakquise

Die Marketingausgaben für 2023 beliefen sich auf insgesamt 623 Millionen US-Dollar:

Marketingkanal	Jährliche Ausgaben
Digitale Werbung	287 Millionen Dollar
Traditionelle Medienwerbung	198 Millionen Dollar
Kundenbindungsprogramme	83 Millionen Dollar
Werbekampagnen	55 Millionen Dollar

Liberty Global plc (LBTYK) – Geschäftsmodell: Einnahmequellen

Gebühren für Breitband-Internet-Abonnements

Liberty Global meldete im dritten Quartal 2023 einen Gesamtumsatz von 5,5 Milliarden US-Dollar, wobei Breitband-Internetdienste erheblich zu dieser Zahl beitrugen.

Servicetyp	Durchschnittliche monatliche Abonnementgebühr	Abonnentenbasis
Grundlegendes Breitband	$49.99	4,2 Millionen Abonnenten
Premium-Breitband	$79.99	2,1 Millionen Abonnenten

Monetarisierung digitaler Unterhaltungsinhalte

Der Umsatz mit digitalen Inhalten erreichte im Jahr 2023 687 Millionen US-Dollar, mit folgender Aufteilung:

• Video-on-Demand-Dienste (VOD): 312 Millionen US-Dollar
• Abonnements für Streaming-Plattformen: 245 Millionen US-Dollar
• Pay-per-View- und Premium-Inhalte: 130 Millionen US-Dollar

Mobilfunk- und Festnetzkommunikationsdienste

Der Umsatz mit Mobilkommunikation belief sich im Jahr 2023 auf insgesamt 1,2 Milliarden US-Dollar.

Servicekategorie	Jahresumsatz	Abonnentenzahl
Mobiles Postpaid	742 Millionen Dollar	3,1 Millionen Abonnenten
Mobiles Prepaid	458 Millionen US-Dollar	1,9 Millionen Abonnenten

Telekommunikationslösungen für Unternehmen

Unternehmenssegment generiert 623 Millionen Dollar im Jahresumsatz.

• Unternehmensnetzwerkdienste: 312 Millionen US-Dollar
• Cloud-Konnektivitätslösungen: 211 Millionen US-Dollar
• Verwaltete IT-Dienste: 100 Millionen US-Dollar

Mehrwertige digitale Serviceangebote

Zusätzliche digitale Dienste trugen dazu bei 456 Millionen US-Dollar zum Gesamtumsatz.

Servicetyp	Jahresumsatz
Cybersicherheitsdienste	178 Millionen Dollar
Smart-Home-Lösungen	142 Millionen Dollar
Digitale Werbeplattformen	136 Millionen Dollar

Liberty Global plc (LBTYK) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Liberty Global plc (LBTYK) and why investors stay engaged, based on late 2025 operational realities. It's about delivering speed, convergence, and maximizing asset returns.

Converged connectivity bundles (broadband, video, mobile) over gigabit networks

Liberty Global plc's value proposition centers on bundling services over high-capacity networks. Liberty Telecom currently serves approximately 80 million connections across its major European operations.

The focus on speed is evident:

• VodafoneZiggo is rolling out a 2 Gbps offering, targeting nearly 7 million homes by the end of 2025.
• In the UK, Virgin Media O2 (VMO2) has a 1Gbps footprint reaching 15.6 million homes passed.
• Telenet's BASE brand sold over 25,000 broadband subscriptions following its launch.
• Fixed Mobile Convergence (FMC) penetration continues, with Telenet reaching 861,000 FMC households.

Next-generation products via advanced fiber and 5G technology

The commitment to next-generation infrastructure underpins future service quality. Investments are heavy in fiber build-out and spectrum acquisition.

Here are some key network progress metrics:

Metric	Target/Status (as of late 2025)	Source
Virgin Media Ireland FTTH Coverage Target	80% of homes by year-end 2025
Wyre FTTH Homes Passed Addition Target	Additional 375,000 by year-end 2025
VMO2 UK Spectrum Share Post-Acquisition	~30% total spectrum share
VMO2 2025 P&E Additions Guidance (Fiber/5G Spend)	£2.0 to £2.2 billion
VodafoneZiggo DOCSIS Upgrade	Started 1.8GHz upgrade for DOCSIS 4.0 preparation

This infrastructure push is essential for maintaining competitive posture.

Long-term shareholder value creation through strategic asset management

A core value proposition is the active management and monetization of assets to return capital to shareholders. Liberty Global plc is executing a multi-platform strategy to unlock value.

Shareholder returns and asset realization data points include:

• 2025 non-core asset disposal target remains between $500 million and $750 million.
• Proceeds Year-to-Date (YTD) from disposals reached approximately $300 million, including a partial ITV stake sale.
• The company resumed share buybacks targeting up to 10% of shares outstanding for 2025.
• Liberty Global provided $4 billion in shareholder remuneration in 2024.
• The Sunrise spin-off delivered a $9 per share tax-free dividend.
• Liberty Growth portfolio Fair Market Value (FMV) stood at $3.4 billion at Q3 2025.
• The top six investments represent over 80% of the Liberty Growth FMV.

Enhanced business services, including advanced data and cloud solutions

Liberty Services & Corporate platforms, including Liberty Blume (tech-enabled back office) and Liberty Tech, are scaling and driving profitability improvements through operating model reshaping.

Financial outlook for the corporate/services segment shows clear cost discipline:

• 2025 Adjusted EBITDA outlook for Liberty Services & Corporate improved to approximately negative $150 million.
• This is an improvement from the previous outlook of negative ~$175 million.
• Projected 2026 negative Adj. EBITDA is now approximately $100 million, representing a 50% reduction from the 2025 run-rate.
• Liberty Blume and Liberty Tech continue to generate positive Adj. EBITDA and Adj. EBITDA less P&E Additions.
• VMO2 is nearing the acquisition completion of the B2B business Daisy.

Access to premium content and value-added services like smart home features

Premium content, exemplified by Formula E, and value-added home features contribute to customer stickiness.

Content and service metrics:

• Formula E's global fanbase is cited at 400 million fans.
• Cumulative TV-viewership for Formula E Season 11 reached 561 million, a 17% growth year-over-year.
• VodafoneZiggo reported revenue growth from Ziggo Sport Totaal in Q2 2025.
• VMO2's WiFi guarantee program is cited as a driver for improved fixed customer churn.

Finance: draft 13-week cash view by Friday.

Liberty Global plc (LBTYK) - Canvas Business Model: Customer Relationships

You're looking at how Liberty Global plc manages its vast and varied customer base across its European operations, which is definitely a complex job given the competitive landscape.

Automated and digital self-service for high-volume residential customers is a core focus, especially where churn is a challenge. For instance, at Virgin Media O2 (VMO2), a customer service transformation effort has resulted in complaints being more than halved year-over-year as of the Q2 2025 report. This points to a heavy reliance on digital channels to handle routine, high-volume interactions efficiently.

For the enterprise segment, the model shifts to high-touch service. While specific enterprise client numbers aren't public, the strategy involves dedicated account management for medium and large clients. This is supported by strategic moves like VMO2 nearing the completion of its acquisition of the B2B business Daisy to bolster growth ambitions in that segment.

The entire structure is underpinned by a subscription-based model ensuring recurring monthly revenue. Liberty Global plc reported consolidated revenue of $1.17 billion for Q1 2025 and $1.26 billion for Q2 2025, demonstrating the ongoing flow of recurring service fees. Telenet's FY 2024 revenue stood at €2,851.4 million, providing a baseline for one of the core operating units.

Customer retention programs in competitive telecom markets are critical, as evidenced by subscriber losses in early 2025. The company is actively managing this through pricing and network upgrades. Here's a look at the customer relationship health metrics from the first half of 2025:

Metric	Q1 2025 Result	Q2 2025 Result
Total Fixed-Line Customers (Approx. Q1 End)	11.5 million	Not specified
Total Mobile Subscribers (Approx. Q1 End)	Over 44 million	Not specified
Broadband Net Losses (QoQ)	44,000	51,400
Postpaid Mobile Net Losses (QoQ)	122,800	73,600
Fixed ARPU YoY Growth	1.6%	Stable

The company is using a dual brand strategy to address retention. CEO Mike Fries noted that main brands defend value in premium segments, while flanker brands drive growth in low-cost segments, all underpinned by customer centricity and digital initiatives. Virgin Media Ireland, for example, remains on track with its accelerated Fiber-to-the-Home (FTTH) upgrade program.

The use of brand-specific loyalty programs is exemplified by the giffgaff community model. This peer-to-peer approach reduces operational costs and builds strong user engagement. The community's direct impact is measurable:

• Community-driven activities contribute to nearly 15 percent of new user sign-ups each month.
• In March 2025, community members set 8,973 Best Answers in the Help & Support section.
• The Help & Support section saw 17,101 threads created in March 2025.
• Members are recognized through Giffgaff Points, which can be redeemed as credit or cash.

Finance: draft 13-week cash view by Friday.

Liberty Global plc (LBTYK) - Canvas Business Model: Channels

You're looking at how Liberty Global plc (LBTYK) gets its services-broadband, mobile, and video-into the hands of its customers across its various European operations. The channel strategy is a mix of owned, partner, and digital touchpoints, which is typical for a major converged operator today.

Direct sales forces and retail stores of operating brands (e.g., Telenet)

The frontline sales effort relies heavily on the direct sales forces and physical retail presence of its operating brands. For instance, Telenet, which Liberty Global now fully owns, delivered another solid quarter in Q2 2025 with positive broadband growth and a return to mobile postpaid additions. By Q3 2025, Telenet showed improved net adds across both broadband and postpaid services. This physical footprint is crucial for premium service sales and customer support, even as digital adoption grows.

Online portals and mobile applications for service management and sales

Digital channels are increasingly important for both management and new sales. Liberty Global's Liberty Services platforms, which include Liberty Blume and Liberty Tech, are scaling up and generating positive Adjusted EBITDA and Adjusted EBITDA less P&E Additions. Specifically, Liberty Blume officially launched its B2B marketing campaign in Q1 2025, showing a direct push through digital B2B channels. Virgin Media O2 (VMO2) is also using its multi-brand approach digitally, successfully launching giffgaff broadband in Q3 2025.

Wholesale agreements with other operators utilizing network capacity

Wholesale is a significant, growing part of the channel mix, especially as Liberty Global monetizes its fiber investments. In Ireland, Liberty Global Ireland added a new wholesale customer during Q2 2025 as part of its accelerated Fiber-to-the-Home (FTTH) upgrade program. In Belgium, the fiber infrastructure company Wyre, in which Telenet holds a majority stake, provides wholesale access to its HFC and future fiber network, with Telenet itself being a key customer. Furthermore, Telenet has a long-term, 15-year period wholesale agreement with Orange Belgium for access to both HFC and FTTH networks. On the fixed network sharing front, Wyre and Proximus progressed to an agreement in principle for network sharing, anticipating a market test starting in September 2025. The funding for this build-out is substantial, with a recent €4.35B underwritten financing for Wyre mentioned in Q3 2025.

B2B direct sales channels for enterprise and government contracts

The Business-to-Business (B2B) segment is a key area for growth and direct engagement. VMO2 is nearing the completion of its acquisition of the B2B business Daisy, which is intended to bolster growth ambitions in this segment. Financially, B2B fixed saw growth in Q2 2025, which helped offset a decline in B2B mobile revenue for that quarter. The launch of Liberty Blume's B2B marketing campaign in Q1 2025 signals a dedicated effort to drive direct B2B sales through their Liberty Services platform.

Third-party distributors and installers for network access

While specific numbers for third-party installers aren't detailed, the scale of network deployment implies reliance on external partners for build-out and potentially for last-mile sales in certain regions. VMO2 is advancing its 5G network, which now reaches three quarters of the UK population. On the fixed side, VodafoneZiggo is deploying its 2 Gbps offering, aiming to reach nearly 7 million homes by the end of 2025. These massive infrastructure rollouts require extensive coordination with third-party contractors and installers.

Here's a quick look at some operational scale metrics relevant to these channels as of late 2025:

Metric/Segment	Value/Status	Context/Date
Liberty Global Consolidated Revenue (TTM)	$4.63 billion	As of Q2 2025
Liberty Global Consolidated Revenue	$3,436.0 million	Q3 2025 (U.S. GAAP, as reported)
Liberty Growth Portfolio FMV	$3.4 billion	Q2/Q3 2025
Wyre Fiber Build Funding	€4.35B	Underwritten financing secured
VMO2 5G Population Coverage	Three quarters	UK population coverage
VodafoneZiggo 2 Gbps Reach Target	Nearly 7 million homes	By year-end 2025
Targeted Asset Disposals for 2025	$500 million to $750 million	Targeted proceeds

The company's overall cash position at $1.9 billion in Q2 2025, down from $2.1 billion in Q1, shows capital deployment is active, supporting these channel investments and growth strategies.

Also, for shareholder actions tied to the channel strategy, Liberty Global announced a further buyback program of up to 10% of shares outstanding in 2025. As of January 31, 2025, the total outstanding shares were approximately 358.75 million (Class A: 173,057,058; Class B: 12,968,658; Class C: 162,728,947).

Liberty Global plc (LBTYK) - Canvas Business Model: Customer Segments

You're looking at the customer base for Liberty Global plc (LBTYK) as of late 2025, which is strategically segmented across its three core platforms: Liberty Telecom, Liberty Growth, and Liberty Services & Corporate. The overall focus is on driving commercial momentum and unlocking shareholder value.

The Liberty Telecom platform serves as the foundation, providing converged services across Europe. As of the Q3 2025 investor call, Liberty Telecom operations provided approximately 80 million connections across the U.K., Netherlands, Belgium, and Ireland.

Residential consumers across Europe seeking converged services.

This segment is the largest by volume, focused on delivering broadband, video, and mobile. As of March 31, 2025, Liberty Global served approximately 11.5 million fixed-line customers and over 44 million mobile subscribers across its reportable segments.

The competitive environment continues to impact subscriber volumes, though pricing actions and network upgrades are showing commercial progress.

• VMO2 (U.K. JV) ended 2024 with 5.7 million internet subscribers.
• VodafoneZiggo launched a 2 Gbps offering in Q3 2025, reaching nearly 7 million homes by year-end.
• In Q3 2025, total consolidated reportable segments saw a net broadband subscriber loss of (185,700).
• VMO2 JV accounted for a loss of (116,700) broadband subscribers in Q3 2025.
• Fixed ARPU (Average Revenue Per User) growth was modest across most markets in Q1 2025, ranging from 1.5% to 2.8% year-over-year.

Small Office/Home Office (SOHO) and small business customers.

SOHO customers are generally included within the mass-marketed product counts but pay a premium for enhanced service levels. Growth in the B2B space is a key focus area within the Liberty Telecom segment.

Metric/Segment	Q3 2025 Performance Indicator	Context/Data Point
VMO2 B2B	Acquisition of Daisy Group	Expected annual pre-tax operational synergies of £70m by 2030.
Telenet	B2B Performance	Saw robust B2B equipment sales in Q2 2025.
VM Ireland	B2B Revenue	Experienced notable B2B non-subscription revenue growth in Q2 2025.

Medium and large enterprises requiring advanced B2B solutions.

This is primarily served through the Liberty Services & Corporate platform, which houses specialized B2B technology and service providers.

• Liberty Blume, a tech-enabled back office platform, had 13 clients driving over $100 million in revenue for 2025.
• Liberty Tech reported revenue of $475 million for 2025, optimized through outsourcing agreements.
• Liberty Services & Corporate improved its 2025 Adjusted EBITDA outlook to approximately negative $150 million.

Wholesale customers, including other mobile and fixed-line operators.

Wholesale activities are centered on network infrastructure monetization, particularly fiber. Virgin Media Ireland added a new wholesale customer during Q2 2025.

In Belgium, Telenet's NetCo, Wyre, is progressing on a fixed network sharing initiative with Proximus, with a market test anticipated in September 2025. The Wyre fiber build-out is fully funded by an underwritten financing of €500 million (or €4.35B total financing mentioned in one report, I'll stick to the smaller, more specific capex facility mentioned for Wyre funding). The UK NetCo preparations are also progressing, with VMO2 acquiring spectrum for £343 million, securing approximately 30% spectrum share in the U.K.

Financial investors focused on the three-platform strategy.

While not traditional end-users, financial investors are a key segment driving capital allocation and valuation, particularly through the Liberty Growth platform.

The Liberty Growth portfolio Fair Market Value (FMV) stood at $3.4 billion at Q3 2025. The company is actively managing this portfolio, targeting $500 to $750 million in non-core asset disposals for 2025, having achieved approximately $300 million proceeds year-to-date as of Q3 2025. The top six investments comprise over 80% of this portfolio's value. Finance: draft 13-week cash view by Friday.

Liberty Global plc (LBTYK) - Canvas Business Model: Cost Structure

The Cost Structure for Liberty Global plc is heavily weighted towards capital-intensive network investment and content licensing, reflecting its core business as a converged telecommunications operator across Europe. You're looking at a business where the upfront and ongoing investment in physical infrastructure is a dominant cost driver.

High Capital Expenditures (CapEx) for network upgrades remain a primary focus. Management has targeted CapEx in the range of £2.0-£2.2 billion for the full year 2025, signaling continued commitment to fiber build-outs and network modernization across its operating companies, such as the Wyre fiber build-out in Belgium, which secured full financing. This heavy investment is essential to maintain service parity and future-proof the network against competitors.

Network maintenance and operating expenses are embedded within the broader operational costs. For instance, Property and equipment additions, a key component of CapEx, reached $328 million during the third quarter of 2025 at the consolidated businesses, representing 27.1 percent of revenues for that quarter, up from 24.6 percent a year ago. This shows the intensity of investment relative to current revenue levels.

Programming and content acquisition costs for video services are a significant, though less explicitly detailed, variable cost. These costs are necessary to maintain competitive video bundles, especially as the company focuses on fixed ARPU (Average Revenue Per User) adjustments. The overall operational efficiency focus is clear when looking at the relationship between EBITDA and investment:

Metric	Q3 2025 Financial Amount
Adjusted EBITDA	$336.5 million
Property and Equipment Additions (P&E)	$328 million
Adjusted EBITDA less P&E additions	$4.8 million

The resulting figure of $4.8 million for Adjusted EBITDA less P&E spending in Q3 2025 highlights how much of the operational profit is immediately reinvested into the network, leaving a thin margin before other costs are considered. This is a critical metric for understanding the true cash generation capacity before debt service.

Liberty Global also faces significant non-operating expenses like interest and derivative losses. For Q3 2025, the reported operating income was slightly negative at $8 million. This was then offset by these substantial non-operating items, which included interest expense and foreign currency transaction losses, contributing to the overall net loss reported for the period.

The pressure from operating costs and expenses is evident in the corporate structure costs. Management has been aggressively driving cost efficiencies, particularly within the Liberty Services & Corporate arm. The forecast for this segment's Adjusted EBITDA loss in 2025 was improved to $150 million, down from a previous estimate of $175 million in losses, with a further target to reduce this to just $100 million in FY 2026. This corporate reshaping is a direct action to mitigate rising operational pressures across the group.

• Broadband net losses in Q3 2025 were 18,500 (improved sequentially) or 26,300 depending on the segment reported.
• Postpaid mobile net adds were 17,200 in one segment, while another reported postpaid net losses of 36,300.
• Fixed ARPU increased by 1.1% YoY in one operation, while another saw a modest decline of 1.2%.

Finance: draft 13-week cash view by Friday.

Liberty Global plc (LBTYK) - Canvas Business Model: Revenue Streams

You're looking at the actual money coming in for Liberty Global plc as of late 2025. It's a mix of steady subscription income, value from big partnerships, and asset sales. Here's the quick math on where the revenue streams stand.

Subscription fees from consolidated telecom operations form the bedrock. For the third quarter of 2025, Liberty Global plc reported total consolidated revenue of $1,207.1 million. This number reflects the direct top-line performance from its wholly-owned or majority-controlled telecom assets in the period ending September 30, 2025.

The contribution from equity earnings from non-consolidated JVs, like Virgin Media O2 (VMO2) and VodafoneZiggo, is substantial, though the specific equity earnings line item isn't explicitly detailed in the latest public summaries. We can look at the reported revenue from these 50% owned joint ventures for Q3 2025 to gauge their scale:

• VMO2 JV reported revenue of $3,436.0 million for the three months ended September 30, 2025.
• VodafoneZiggo JV reported revenue of $1,156.8 million for the same three-month period.

For business services revenue from enterprise and wholesale contracts, which falls under the broader Liberty Services & Corporate segment, we see direct financial activity. The U.S. GAAP reported revenue for the Liberty Services & Corporate segment in Q3 2025 was $263.9 million. This segment is where the enterprise and wholesale contracts are primarily housed, alongside the internal service platforms.

Proceeds from strategic asset sales provide a non-recurring but important cash flow component, funding buybacks and investment. Liberty Global plc remains committed to its 2025 target for non-core asset disposals, which is set in the range of $500 million to $750 million. As of the third quarter of 2025, the company had already realized approximately $300 million in proceeds year-to-date, including a partial sale of its ITV stake.

Finally, the internal Liberty Services platforms, which include technology and financial services like Liberty Blume, are scaling up. While the prompt specifies an annual figure, the most recent data indicates that the approximately $600 million in annual revenue for these platforms represented the full year 2024 figure. The segment continues to generate positive Adjusted EBITDA.

Here is a snapshot of the reported revenue contributions from the key segments and JVs for Q3 2025:

Revenue Stream Component	Financial Metric	Amount (USD)	Period
Consolidated Telecom Operations	Total Consolidated Revenue	$1,207.1 million	Q3 2025
Non-Consolidated JV (VMO2)	Reported Revenue	$3,436.0 million	Q3 2025
Non-Consolidated JV (VodafoneZiggo)	Reported Revenue	$1,156.8 million	Q3 2025
Liberty Services & Corporate (Proxy for Business Services)	Reported Revenue (U.S. GAAP)	$263.9 million	Q3 2025
Liberty Services Platforms	Approximate Annual Revenue	$600 million	FY 2024 (as reported)

The asset sale strategy is actively contributing, with ~$300 million realized against a $500 million to $750 million goal for the full year 2025.

Finance: draft 13-week cash view by Friday.