Liberty Global plc (LBTYK): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de las telecomunicaciones, Liberty Global Plc (LBTYK) surge como una potencia, tejiendo un intrincado tapiz de conectividad digital y entretenimiento. Este gigante global de telecomunicaciones ha creado meticulosamente un modelo de negocio que trasciende la prestación de servicios tradicional, combinando tecnología de vanguardia con asociaciones estratégicas para revolucionar cómo los consumidores y las empresas experimentan la comunicación digital. Al integrar perfectamente la banda ancha de alta velocidad, los paquetes de entretenimiento integrales y las innovadoras soluciones tecnológicas, Liberty Global se ha posicionado como una fuerza transformadora en el panorama de telecomunicaciones, que ofrece experiencias digitales personalizadas que redefinen la conectividad en la era moderna.

Liberty Global PLC (LBTYK) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con fabricantes de equipos de telecomunicaciones

Liberty Global ha establecido asociaciones con fabricantes de equipos de telecomunicaciones clave:

Pareja	Tipo de equipo	Valor de contrato
Sistemas de Cisco	Infraestructura de red	$ 325 millones (2023)
Nokia	5G Equipo de red	$ 212 millones (2023)
Tecnologías Huawei	Hardware de telecomunicaciones	$ 189 millones (2023)

Proveedores de contenido y compañías de medios para entretenimiento digital

Liberty Global colabora con múltiples contenido y socios de medios:

• Netflix - Asociación de integración de transmisión
• Disney+ - Acuerdo de distribución de contenido
• Video de Amazon Prime - Colaboración de la plataforma de transmisión
• HBO Max - Licencias de contenido premium

Proveedores de servicios de infraestructura y tecnología de red

Proveedor	Tipo de servicio	Valor anual del contrato
Ericsson	Infraestructura de red	$ 276 millones (2023)
Tecnologías de Akamai	Red de entrega de contenido	$ 142 millones (2023)
Tecnologías de luz	Conectividad en la nube	$ 198 millones (2023)

Operadores locales de Internet y redes móviles

Liberty Global mantiene asociaciones estratégicas con operadores de redes regionales:

• Vodafone - Acuerdo europeo de intercambio de redes
• Telefónica - Colaboración de infraestructura
• Deutsche Telekom - Servicios de red transfronterizos

Socios de tecnología de servicios en la nube y ciberseguridad

Pareja	Categoría de servicio	Valor de asociación
Microsoft Azure	Infraestructura en la nube	$ 412 millones (2023)
Palo Alto Networks	Soluciones de ciberseguridad	$ 167 millones (2023)
Marco de la nube	Seguridad de la red	$ 98 millones (2023)

Liberty Global PLC (LBTYK) - Modelo de negocios: actividades clave

Desarrollo de infraestructura de telecomunicaciones

Liberty Global invirtió $ 1.56 mil millones en infraestructura de red en 2023. La compañía opera infraestructura de telecomunicaciones en 6 países europeos, incluido el Reino Unido, Bélgica, Países Bajos, Irlanda, Suiza y República Czeca.

País	Cobertura de red	Inversión en infraestructura
Reino Unido	95.3% de cobertura de banda ancha	$ 542 millones
Bélgica	89.7% de alcance de red	$ 310 millones
Países Bajos	92.1% de penetración de red	$ 385 millones

Administración de redes de cable y banda ancha

Liberty Global administra 21.7 millones de suscriptores de banda ancha en sus mercados europeos. La empresa mantiene redes de fibra óptica e híbrida de fibra-coaxial (HFC).

• Suscriptores de banda ancha totales: 21.7 millones
• Velocidad de red promedio: 500 Mbps
• Confiabilidad de la red: 99.95% de tiempo de actividad

Agregación de contenido de entretenimiento digital

La cartera de entretenimiento digital de Liberty Global incluye 12.4 millones de suscriptores de video. La compañía agrega contenido a través de múltiples plataformas y servicios de transmisión.

Plataforma de contenido	Suscriptores	Inversión de contenido anual
TV virgen	5.6 millones	$ 215 millones
Ziggo	4.2 millones	$ 180 millones

Delección de servicios de Internet y móvil

Liberty Global proporciona servicios móviles a través de asociaciones y acuerdos de operador de red virtual móvil (MVNO). La compañía atiende a 6.8 millones de suscriptores móviles en 2023.

• Suscriptores móviles: 6.8 millones
• Ingresos móviles: $ 1.2 mil millones
• Tráfico de datos móviles: 45 petabytes por mes

Innovación tecnológica y expansión de la red

Liberty Global asignó $ 780 millones para la investigación de tecnología y la expansión de la red en 2023. La compañía se centra en la infraestructura 5G y las soluciones de conectividad de próxima generación.

Enfoque tecnológico	Inversión	Despliegue esperado
Red 5G	$ 420 millones	2024-2025
Expansión de fibra	$ 360 millones	2024-2026

Liberty Global PLC (LBTYK) - Modelo de negocios: recursos clave

Infraestructura de telecomunicaciones extensa

Liberty Global opera una infraestructura integral de telecomunicaciones en múltiples países europeos:

País	Cobertura de red	Hogares pasados
Reino Unido	Virgin Media Network	15.5 millones
Bélgica	Red de telenet	3.2 millones
Irlanda	Virgin Media Irlanda	1.1 millones

Activos de red de fibra óptica y de cable

Detalles de la infraestructura de red:

• Longitud total de la red de fibra óptica: 126,000 kilómetros
• Ancho de banda de red de cable: hasta 1.6 Gbps
• Tecnología de red: DOCSIS 3.1 y fibra a casa (FTTH)

Plataformas de tecnología digital avanzadas

Inversiones de infraestructura tecnológica:

• Inversión tecnológica anual: $ 1.2 mil millones
• Plataformas digitales: transmisión de video basada en la nube
• Plataformas tecnológicas: redes híbridas de fibra-coaxial

Fuerza laboral de ingeniería de telecomunicaciones calificada

Categoría de empleado	Número de empleados
Fuerza de trabajo total	35,600
Profesionales de ingeniería	6,750
Personal de apoyo técnico	4,300

Capital financiero sustancial para inversiones

Métricas de recursos financieros:

• Activos totales: $ 64.3 mil millones
• Gastos de capital anuales: $ 3.8 mil millones
• Equivalentes en efectivo y efectivo: $ 2.1 mil millones

Liberty Global PLC (LBTYK) - Modelo de negocio: propuestas de valor

Servicios de Internet de banda ancha de alta velocidad

Liberty Global proporciona servicios de Internet de banda ancha en múltiples mercados con las siguientes especificaciones:

Mercado	Velocidad promedio	Suscriptores de banda ancha
Reino Unido	362 Mbps	5.4 millones
Bélgica	275 Mbps	1.9 millones
Irlanda	289 Mbps	1.2 millones

Paquetes de entretenimiento digital completos

Las ofertas de entretenimiento digital incluyen:

• Canales 4K Ultra HD: 157
• Biblioteca de contenido a pedido: más de 15,000 títulos
• Integración de la plataforma de transmisión: Netflix, Amazon Prime

Soluciones de telecomunicaciones integradas

Detalles del paquete de servicio convergente:

Tipo de servicio	Penetración del mercado	Ingresos mensuales promedio
Juego triple	62%	€87.50
Play cuádruple	38%	€112.75

Conectividad móvil avanzada y de línea fija

Métricas de infraestructura de conectividad:

• Cobertura 4G LTE: 94%
• Implementación de red 5G: 47 ciudades
• Alcance de red de línea fija: 23.6 millones de hogares

Experiencias digitales de clientes personalizadas

Estadísticas de la plataforma de experiencia digital:

Característica	Adopción de usuarios	Tasa de compromiso
Aplicación móvil	68%	42%
Recomendaciones personalizadas	53%	36%

Liberty Global PLC (LBTYK) - Modelo de negocios: relaciones con los clientes

Plataformas de autoservicio digital

Liberty Global ofrece plataformas de autoservicio digital a través de su aplicación MyVodafone y el portal de clientes en línea, que procesó 47.3 millones de interacciones digitales en 2022. La plataforma digital admite:

• Pago de facturas
• Gestión de servicios
• Solicitudes de soporte técnico
• Configuración de cuenta

Canales de atención al cliente personalizados

Canal de soporte	Volumen de contacto anual	Tiempo de resolución promedio
Soporte telefónico	12.6 millones de contactos	8.2 minutos
Chat en vivo	3.4 millones de interacciones	6.5 minutos
Soporte por correo electrónico	2.1 millones de comunicaciones	24 horas

Opciones de personalización de servicios flexibles

Liberty Global proporciona 6 niveles de paquetes de servicio diferentes En sus telecomunicaciones y servicios de cable, lo que permite a los clientes personalizar:

• Configuraciones de velocidad de Internet
• Selecciones de paquetes de canales
• Planes de datos móviles
• Opciones de agrupación de dispositivos

Programa de fidelización y participación del cliente a largo plazo

El programa de fidelización VIP incluye 2.3 millones de miembros activos, ofreciendo:

• Puntos de recompensa acumulados
• Actualizaciones de servicio exclusivas
• Soporte técnico prioritario
• Descuentos anuales de dispositivos

Sistemas de soporte técnico proactivo

Característica de soporte	Métrica de rendimiento anual
Monitoreo de red automatizado	99.7% de tiempo de actividad de la red
Mantenimiento predictivo	Reducción del 78% en las interrupciones del servicio
Capacidades de diagnóstico remoto	62% de los problemas resueltos sin una visita al sitio

Liberty Global PLC (LBTYK) - Modelo de negocios: canales

Plataformas digitales en línea

Liberty Global opera los siguientes canales digitales:

Plataforma	Usuarios activos	Tráfico mensual
Sitio web de MyVodafone	4.2 millones	12.6 millones de visitantes únicos
Portal de clientes de Liberty Global	3.8 millones	9.4 millones de sesiones mensuales

Tiendas físicas minoristas

Liberty Global mantiene la presencia minorista en múltiples mercados:

• Ubicaciones minoristas totales: 287 tiendas físicas
• Países con presencia minorista: Reino Unido, Países Bajos, Bélgica, Irlanda
• Tamaño promedio de la tienda: 180 metros cuadrados

Representantes de ventas directas

Distribución de la fuerza de ventas:

Canal de ventas	Número de representantes	Ventas promedio por representante
Equipo directo de ventas B2C	1,624	87,300 € por trimestre
Equipo de ventas de Enterprise B2B	412	226,500 € por trimestre

Interfaces de aplicaciones móviles

Estadísticas de aplicaciones móviles:

• Descargas totales de aplicaciones móviles: 6.3 millones
• Usuarios activos mensuales: 2.9 millones
• Plataformas compatibles: iOS, Android
• Calificaciones de la tienda de aplicaciones: 4.2/5 promedio

Centros de servicio de telecomunicaciones

Desglose del canal de servicio al cliente:

Canal de servicio	Volumen de contacto anual	Tiempo de respuesta promedio
Soporte telefónico	14.6 millones de llamadas	12 minutos
Chat en línea	7.2 millones de interacciones	8 minutos
Soporte por correo electrónico	3.4 millones de correos electrónicos	24 horas

Liberty Global PLC (LBTYK) - Modelo de negocios: segmentos de clientes

Consumidores de banda ancha residencial

A partir del tercer trimestre de 2023, Liberty Global atiende a aproximadamente 20.4 millones de clientes de banda ancha residencial en múltiples mercados europeos.

Mercado	Suscriptores de banda ancha	Ingresos promedio por usuario (ARPU)
Reino Unido	5.6 millones	€ 38.50 por mes
Bélgica	3.2 millones	€ 42.75 por mes
Irlanda	1.8 millones	35,25 € por mes

Empresas pequeñas y medianas empresas

Liberty Global brinda servicios de telecomunicaciones a aproximadamente 350,000 empresas pequeñas y medianas empresas.

• Soluciones de conectividad empresarial dedicadas
• Plataformas de comunicación basadas en la nube
• Servicios de ciberseguridad

Clientes de telecomunicaciones corporativas

La compañía atiende a más de 5,000 clientes corporativos en toda Europa con infraestructura de telecomunicaciones de nivel empresarial.

Categoría de servicio	Número de clientes corporativos	Valor anual del contrato
Soluciones de red	2,750	185 millones de euros
Servicios en la nube	1,500	95 millones de euros
Servicios de TI administrados	750	62 millones de euros

Suscriptores de entretenimiento digital

Liberty Global tiene 11.6 millones de suscriptores de entretenimiento digital en sus mercados operativos.

• Servicios de video a pedido
• Plataformas de transmisión
• Paquetes de contenido premium

Usuarios de comunicación móvil y de línea fija

La compañía atiende a 8,3 millones de usuarios de comunicación móvil y de línea fija.

Tipo de comunicación	Recuento de suscriptores	Penetración del mercado
Usuarios móviles	5.2 millones	62% de participación de mercado
Usuarios de línea fija	3.1 millones	38% de participación de mercado

Liberty Global PLC (LBTYK) - Modelo de negocio: Estructura de costos

Mantenimiento de infraestructura de red

Los costos de mantenimiento de la infraestructura de la red de Liberty Global para 2023 totalizaron $ 1.85 mil millones. El desglose de los gastos de infraestructura incluye:

Categoría de infraestructura	Costo anual
Actualizaciones de la red de cable	$ 687 millones
Mantenimiento del equipo	$ 453 millones
Operaciones del centro de datos	$ 412 millones
Seguridad de la red	$ 298 millones

Investigación y desarrollo de tecnología

El gasto de I + D para Liberty Global en 2023 alcanzó los $ 412 millones, con áreas de enfoque clave que incluyen:

• Desarrollo de tecnología de fibra óptica: $ 156 millones
• Innovación de la plataforma de transmisión: $ 98 millones
• Tecnologías de ciberseguridad: $ 82 millones
• IA e integración de aprendizaje automático: $ 76 millones

Gastos de adquisición de contenido

Los costos de adquisición de contenido para 2023 ascendieron a $ 1.27 mil millones, distribuidos en todo:

Tipo de contenido	Costo de adquisición anual
Derechos de transmisión de deportes	$ 487 millones
Programación original	$ 342 millones
Licencias de películas y series	$ 278 millones
Contenido internacional	$ 163 millones

Compensación y capacitación de empleados

Los gastos totales relacionados con los empleados para 2023 fueron de $ 845 millones:

• Salarios base: $ 512 millones
• Bonos de rendimiento: $ 156 millones
• Programas de capacitación de empleados: $ 87 millones
• Atención médica y beneficios: $ 90 millones

Costos de marketing y adquisición de clientes

Los gastos de marketing para 2023 totalizaron $ 623 millones:

Canal de marketing	Gasto anual
Publicidad digital	$ 287 millones
Publicidad de medios tradicional	$ 198 millones
Programas de retención de clientes	$ 83 millones
Campañas promocionales	$ 55 millones

Liberty Global PLC (LBTYK) - Modelo de negocios: flujos de ingresos

Tarifas de suscripción a Internet de banda ancha

Liberty Global reportó ingresos totales de $ 5.5 mil millones en el tercer trimestre de 2023, con servicios de Internet de banda ancha que contribuyen significativamente a esta cifra.

Tipo de servicio	Tarifa de suscripción mensual promedio	Base de suscriptores
Banda ancha básica	$49.99	4.2 millones de suscriptores
Banda ancha premium	$79.99	2.1 millones de suscriptores

Monetización de contenido de entretenimiento digital

Los ingresos por contenido digital alcanzaron $ 687 millones en 2023, con el siguiente desglose:

• Servicios de video a pedido (VOD): $ 312 millones
• Suscripciones de la plataforma de transmisión: $ 245 millones
• Contenido de pago por visión y premium: $ 130 millones

Servicios de comunicación móvil y de línea fija

Los ingresos por comunicación móvil totalizaron $ 1.2 mil millones en 2023.

Categoría de servicio	Ingresos anuales	Recuento de suscriptores
Postpago móvil	$ 742 millones	3.1 millones de suscriptores
Móvil prepago	$ 458 millones	1.9 millones de suscriptores

Soluciones de telecomunicaciones empresariales

Segmento empresarial generado $ 623 millones en ingresos anuales.

• Servicios de red corporativa: $ 312 millones
• Soluciones de conectividad en la nube: $ 211 millones
• Servicios de TI administrados: $ 100 millones

Ofertas de servicio digital de valor agregado

Servicios digitales adicionales aportados $ 456 millones a ingresos totales.

Tipo de servicio	Ingresos anuales
Servicios de ciberseguridad	$ 178 millones
Soluciones de hogar inteligentes	$ 142 millones
Plataformas de publicidad digital	$ 136 millones

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.