Liberty Global Plc (LBTYA): Canvas du modèle d'entreprise [Jan-2025 MISE À JOUR]

Dans le paysage dynamique des télécommunications, Liberty Global Plc (LBTYA) apparaît comme une puissance de services numériques intégrés, naviguant stratégiquement sur le marché européen complexe avec son modèle commercial innovant. En mélangeant de manière transparente l'infrastructure de réseau de pointe, des solutions de divertissement numériques complètes et des stratégies centrées sur le client, la société a transformé les télécommunications traditionnelles en un écosystème polyvalent multidimensionnel qui répond à divers besoins de consommation dans des paysages urbains et suburbains. Du haut débit à haut débit aux expériences de streaming personnalisées, la toile commerciale de Liberty Global révèle une approche sophistiquée pour connecter les personnes, les technologies et les opportunités dans un monde de plus en plus numérique.

Liberty Global Plc (LBTYA) - Modèle d'entreprise: partenariats clés

Alliance stratégique avec Vodafoneziggo

Aux Pays-Bas, Liberty Global possède une coentreprise 50/50 avec Vodafoneziggo, évaluée à environ 4,2 milliards d'euros en 2023. Le partenariat couvre:

• Infrastructure de télécommunications mobile et fixe combinée
• Offres intégrées de services aux consommateurs et aux entreprises
• Ressources de réseau et plateformes technologiques partagées

Métriques de partenariat	Valeur
Évaluation de la coentreprise	4,2 milliards d'euros
Base d'abonnés combinés	4,5 millions
Investissement annuel du réseau	350 millions d'euros

Collaborations du fournisseur de contenu

Liberty Global maintient des partenariats de contenu stratégique avec:

• Netflix - Contrat de partage des revenus couvrant 12 marchés européens
• Amazon Prime Video - Intégration sur les plates-formes de câbles et de haut débit
• Disney + - Offres de services de streaming groupés

Partenariat de contenu	Couverture du marché	Abonné à portée de main
Partenariat Netflix	12 pays européens	2,3 millions d'abonnés
Vidéo Amazon Prime	8 marchés européens	1,7 million d'abonnés

Accords d'infrastructure réseau

Les partenariats d'infrastructure de réseau de gros comprennent:

• Cisco Systems - Équipement réseau et infrastructure
• Huawei Technologies - Développement du réseau 5G
• Nokia Networks - Infrastructure de télécommunications

Fabricant d'équipements	Valeur du contrat	Focus technologique
Systèmes Cisco	220 millions d'euros	Infrastructure réseau
Huawei Technologies	180 millions d'euros	Développement de réseau 5G
Réseaux Nokia	160 millions d'euros	Équipement de télécommunications

Collaborations locales de fournisseurs de services Internet

Liberty Global a établi des coentreprises avec des FAI locaux à travers:

• Royaume-Uni
• Irlande
• Belgique
• Suisse

Marché	Partenaire du FAI local	Montant d'investissement
Royaume-Uni	Médias vierges	3,5 milliards d'euros
Irlande	UPC Irlande	450 millions d'euros
Belgique	Telenet	1,2 milliard d'euros
Suisse	UPC Suisse	650 millions d'euros

Liberty Global Plc (LBTYA) - Modèle d'entreprise: Activités clés

Développement et maintenance des infrastructures du réseau câblé

Liberty Global opère dans 6 pays européens avec 21 700 km d'infrastructures de réseau de fibres. L'investissement total du réseau en 2022 était de 1,9 milliard d'euros.

Métrique du réseau	2022 données
Longueur totale du réseau de fibres	21 700 km
Investissement en infrastructure de réseau	1,9 milliard d'euros

Provision du service de télécommunications à large bande et mobile

Liberty Global dessert environ 20,4 millions de clients à large bande à travers l'Europe. Les abonnés des services mobiles ont atteint 4,5 millions en 2022.

• Clients à large bande: 20,4 millions
• Abonnés de service mobile: 4,5 millions
• Pays d'opération: 6 marchés européens

Gestion de la télévision numérique et de la plate-forme de streaming

Digital TV abonné de la base de 15,3 millions. L'investissement de la plate-forme de streaming a totalisé 275 millions d'euros en 2022.

Métrique de télévision numérique	2022 données
Abonnés à la télévision numérique	15,3 millions
Investissement de la plate-forme de streaming	275 millions d'euros

Innovation technologique et mises à niveau des infrastructures réseau

Les dépenses de R&D ont atteint 412 millions d'euros en 2022. Les mises à niveau du réseau 5G et des fibres représentaient 65% des investissements technologiques.

• Dépenses totales de R&D: 412 millions d'euros
• Investissement de mise à niveau du réseau: 65% du budget technologique
• Focus primaire: technologies de réseau 5G et fibres

Service client et opérations de support technique

Les centres de support client emploient 8 600 employés dans des emplacements européens. Budget opérationnel du service à la clientèle annuelle: 345 millions d'euros.

Métrique du support client	2022 données
Personnel de soutien	8 600 employés
Budget de service client	345 millions d'euros

Liberty Global PLC (LBTYA) - Modèle d'entreprise: Ressources clés

Infrastructure de réseau de câbles et de fibres optiques

Liberty Global exploite une infrastructure de réseau couvrant plusieurs pays européens, notamment:

Pays	Couverture réseau (kilomètres)	Portée des fibres
Royaume-Uni	54,000	6,2 millions de locaux
Belgique	32,500	3,1 millions de locaux
Pays-Bas	41,000	4,5 millions de locaux

Technologie avancée des télécommunications et licences de spectre

Détails de l'infrastructure technologique:

• Technologie Docsis 3.1 déployée sur le réseau
• Licences de spectre 5G sur plusieurs marchés européens
• Bande passante de spectre total: 320 MHz

Travail technique et service client qualifié

Catégorie des employés	Total des employés	Pourcentage de personnel technique
Total de main-d'œuvre	24,800	62%
Service client	7,200	29%

Capital financier substantiel

Ressources financières au quatrième trimestre 2023:

• Actif total: 52,3 milliards de dollars
• Equivalents en espèces et en espèces: 3,4 milliards de dollars
• Dépenses en capital annuelles: 2,9 milliards de dollars

Contenu numérique propriétaire et plateformes de streaming

Plate-forme	Abonnés	Taille de la bibliothèque de contenu
Virgin Media O2	5,6 millions	Plus de 10 000 heures
Vodafoneziggo	4,2 millions	8 500 heures et plus

Liberty Global Plc (LBTYA) - Modèle d'entreprise: Propositions de valeur

Services de télécommunications intégrées sur plusieurs marchés européens

Liberty Global opère dans 6 pays européens: le Royaume-Uni, la Belgique, les Pays-Bas, l'Irlande, la Suisse et la Pologne, desservant environ 20,2 millions de relations clients au troisième trimestre 2023.

Pays	Relations avec les clients	Pénétration du marché
Royaume-Uni	5,8 millions	8.7%
Belgique	3,2 millions	12.3%
Pays-Bas	4,1 millions	9.5%

Broadband à haut débit et connectivité Internet

Liberty Global fournit des services à large bande les spécifications suivantes:

• Vitesse moyenne à large bande: 350 Mbps
• Couverture du réseau fibre optique: 65% sur tous les marchés
• Investissement d'infrastructure réseau: 1,2 milliard d'euros en 2022

Solutions complètes de divertissement numérique et de streaming

Les offres de divertissement numérique de Liberty Global comprennent:

Service	Abonnés	Prix ​​mensuels
Plate-forme de streaming vidéo	3,5 millions	€12.99
Canaux sportifs premium	1,2 million	€19.99

Packages de services groupés

Répartition des forfaits de service groupé:

• Packages à triple jeu: 62% de la clientèle
• Packages à quad-jeu: 28% de la clientèle
• Revenus mensuels moyens par utilisateur (ARPU): 49,50 €

Prix ​​compétitifs et modèles d'abonnement flexibles

Détails de la stratégie de tarification:

Type de package	Coût mensuel	Flexibilité du contrat
Internet de base	€29.99	Contrat de roulement mensuel
Paquet premium	€69.99	Contrat de 12 mois avec une option de résiliation anticipée

Liberty Global PLC (LBTYA) - Modèle d'entreprise: relations avec les clients

Plates-formes et applications mobiles numériques numériques

Liberty Global exploite l'application MyVodafone avec 4,2 millions d'utilisateurs mensuels actifs sur les marchés européens. La plate-forme numérique prend en charge 87% des interactions du service client via les canaux en ligne.

Plate-forme	Utilisateurs actifs mensuels	Couverture de service
Application myvodafone	4,2 millions	87% d'interactions de service client

Canaux de support client 24/7

Liberty Global fournit au support client multicanal avec l'infrastructure suivante:

• Prise en charge du téléphone disponible en 6 langues
• Support de chat en direct avec un temps de réponse moyen de 3,2 minutes
• Assistance par e-mail avec un taux de résolution de 95% dans les 24 heures

Recommandations de marketing et de service personnalisés

Utilise des analyses de données avancées avec 3,6 millions de profils de clients Segmenté pour des approches marketing ciblées.

Programmes de fidélité et incitations contractuelles à long terme

Type de contrat	Taux de rétention	Durée du contrat moyen
Haut débit à long terme	92%	24 mois
Services mobiles	88%	18 mois

Mécanismes réguliers des commentaires des clients et de l'engagement

Implémentez le suivi du score de promoteur net trimestriel (NPS) avec un score actuel de 65, ce qui est considéré comme excellent dans l'industrie des télécommunications.

• Enquêtes de satisfaction des clients trimestriels
• Plateformes de rétroaction en ligne
• Canaux d'engagement des médias sociaux

Liberty Global Plc (LBTYA) - Modèle d'entreprise: canaux

Site Web en ligne et applications mobiles

Liberty Global exploite plusieurs plateformes numériques sur ses marchés:

• Application myvodafone avec 5,2 millions d'utilisateurs mensuels actifs
• Portail de service client en ligne gérer 72% des interactions client
• Plates-formes numériques en libre-service sur 8 marchés européens

Canal numérique	Utilisateurs actifs mensuels	Pourcentage d'interaction
Application myvodafone	5,200,000	42%
Portail Web	3,800,000	30%
Web mobile	2,600,000	28%

Magasins de détail physiques et centres de service

Liberty Global conserve 426 emplacements de vente au détail physiques à travers l'Europe.

Pays	Nombre de magasins	Foome mensuelle moyenne
Royaume-Uni	142	87,500
Pays-Bas	98	62,300
Belgique	76	45,200

Télévenant et marketing direct

Liberty Global exploite 12 centres d'appels avec 3 200 représentants du service à la clientèle.

• Revenus de télévente annuelle: 287 millions d'euros
• Coût moyen d'acquisition des clients via les téléventions: 42 €
• Taux de conversion: 18,5%

Partenaires de vente au détail de tiers autorisés

Liberty Global collabore avec 1 247 partenaires de vente au détail autorisés.

Type de partenaire	Nombre de partenaires	Volume des ventes
Détaillants électroniques	523	156 millions d'euros
Magasins de télécommunications	374	112 millions d'euros
Dépanneurs	350	78 millions d'euros

MARKETING DIGULE ET PLADES DE MÉDAISE SOCIAL

La stratégie de marketing numérique de Liberty Global s'étend sur plusieurs plateformes.

Plate-forme	Adeptes / abonnés	Taux d'engagement
Facebook	2,100,000	4.2%
Instagram	1,450,000	3.7%
Liendin	620,000	2.9%

Liberty Global PLC (LBTYA) - Modèle d'entreprise: segments de clientèle

Consommateurs résidentiels du haut débit et du divertissement

Liberty Global dessert environ 20,7 millions de clients résidentiels à travers l'Europe au troisième trimestre 2023. Répartition de la clientèle:

Type de service	Nombre de clients	Pénétration du marché
Internet à large bande	11,3 millions	54.6%
Services vidéo	9,4 millions	45.4%
Services mobiles	4,2 millions	20.3%

Clients de télécommunications commerciales de petite et moyenne taille

Revenus de segments d'entreprise: 1,2 milliard d'euros en 2022

• Solutions de connectivité commerciale
• Services de communication cloud
• Infrastructure informatique gérée

Demographies du marché urbain et suburbain

Distribution géographique du client:

Région	Pourcentage de clientèle	Total des ménages servis
Royaume-Uni	35%	7,2 millions
Belgique	25%	5,2 millions
Pays-Bas	20%	4,1 millions
Autres marchés européens	20%	4,2 millions

Utilisateurs de technologies multi-générationnelles

Segmentation des groupes d'âge:

Groupe d'âge	Pourcentage de clients	Services préférés
18-34	32%	Streaming, mobile
35-54	38%	Services groupés
55+	30%	Télévision traditionnelle, haut débit

Demandeurs de services sensibles aux prix et premium

Distribution du niveau de service:

Niveau de service	Pourcentage de clientèle	Revenus mensuels moyens
Forfait de base	45%	€29.99
Package standard	35%	€49.99
Paquet premium	20%	€79.99

Liberty Global Plc (LBTYA) - Modèle d'entreprise: Structure des coûts

Maintenance et expansion des infrastructures réseau

En 2023, Liberty Global a investi 1,48 milliard de dollars dans les dépenses en capital des infrastructures de réseau. Les coûts totaux d'infrastructure du réseau de l'entreprise pour l'année étaient d'environ 2,3 milliards de dollars.

Catégorie de coûts	Montant (USD)
Infrastructure réseau CAPEX	1,48 milliard de dollars
Total des coûts d'infrastructure du réseau	2,3 milliards de dollars

Recherche et développement technologiques

Liberty Global a alloué 316 millions de dollars aux frais de recherche et de développement en 2023, ce qui représente 3,2% de ses revenus totaux.

• R&D Investment Focus Daires:
  • Technologie de fibre optique
  • Développement de la plate-forme de streaming
  • Innovations de cybersécurité

Salaires et formation des employés

Les dépenses totales liées aux employés pour Liberty Global en 2023 étaient de 1,1 milliard de dollars, avec un coût moyen par employé de 127 000 $.

Catégorie de coûts des employés	Montant (USD)
Dépenses totales des employés	1,1 milliard de dollars
Coût moyen par employé	$127,000

Licence et acquisition de contenu

Liberty Global a dépensé 742 millions de dollars en licence et acquisition de contenu en 2023, ce qui représente 7,5% de ses dépenses d'exploitation totales.

• Répartition des licences de contenu:
  • Contenu en streaming: 412 millions de dollars
  • Contenu télévisé linéaire: 330 millions de dollars

Frais de marketing et d'acquisition des clients

Les coûts de marketing et d'acquisition des clients pour Liberty Global ont totalisé 456 millions de dollars en 2023, avec un coût d'acquisition de clients de 187 $ par nouvel abonné.

Catégorie de coûts marketing	Montant (USD)
Total des dépenses de marketing	456 millions de dollars
Coût d'acquisition des clients	187 $ par abonné

Liberty Global PLC (LBTYA) - Modèle d'entreprise: Strots de revenus

Frais d'abonnement récurrents pour les services de télécommunications

Liberty Global a déclaré un chiffre d'affaires total de 4,79 milliards d'euros pour l'exercice 2023. Des frais d'abonnement récurrents représentaient environ 3,2 milliards d'euros de ce chiffre d'affaires total.

Catégorie de service	Revenus (millions d'euros)	Pourcentage du total
Services vidéo	1,450	30.3%
Internet à large bande	1,280	26.7%
Services vocaux	470	9.8%

Frais de connectivité Internet à large bande

La connectivité Internet à large bande a généré 1,28 milliard d'euros de revenus pour Liberty Global en 2023.

• Abonnement à large bande mensuel moyen: 35,50 €
• Abonnés totaux à large bande: 8,2 millions
• Taux de pénétration à large bande: 62% sur les marchés principaux

Revenus de la télévision numérique et de la plate-forme de streaming

Les plateformes de télévision et de streaming numériques ont contribué 1,45 milliard d'euros aux revenus de Liberty Global en 2023.

Plate-forme	Abonnés	Revenus (millions d'euros)
Télévision par câble traditionnelle	6,1 millions	980
Plates-formes de streaming	2,3 millions	470

Revenu du service de télécommunications mobiles

Les services mobiles ont généré 580 millions d'euros de revenus pour Liberty Global en 2023.

• Abonnés mobiles: 3,4 millions
• Revenu moyen par utilisateur mobile: 14,20 € par mois
• Utilisation des données mobiles: 8,7 Go par utilisateur par mois

Contrats de solutions d'entreprise et d'entreprise

Enterprise Solutions a contribué 410 millions d'euros aux revenus de Liberty Global en 2023.

Segment d'entreprise	Revenus (millions d'euros)	Services clés
Connectivité d'entreprise	210	Internet dédié, VPN
Services cloud	120	Géré, solutions cloud
Solutions de télécommunications	80	Gestion du réseau, sécurité

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

Converged Connectivity: Liberty Global plc delivers bundled high-speed broadband, video, and mobile services across its European operations. The company currently provides over 80 million connections across Europe through brands like Telenet, Virgin Media in Ireland, UPC in Slovakia, Virgin Media-O2 in the U.K., and VodafoneZiggo in The Netherlands.

You're looking at a business model built on bundling. In Q3 2025, Liberty Telecom operations in the UK, Netherlands, and Ireland showed improved net adds for both broadband and postpaid mobile services, signaling customer uptake of these converged packages.

Next-Generation Speed: Liberty Global plc is aggressively deploying faster network capabilities. VodafoneZiggo launched a 2 Gbps offering in October 2025, aiming to reach nearly 7 million homes by year-end. The overall goal is to deliver 2 Gbps speeds to almost the entire footprint by the end of the year.

The network upgrade progress is clear when you look at the build-out metrics:

• Biggest quarter for fiber build in Q3 2025.
• Virgin Media Ireland on track to complete ~73% of its FTTH (Fiber to the Home) roll-out by the end of 2025.
• VodafoneZiggo is deploying 1.8GHz technology in preparation for the DOCSIS 4.0 rollout scheduled for late 2026.

Shareholder Value: An unwavering focus on fostering, crystallizing and delivering value to shareholders remains a top priority for Liberty Global plc. This is executed through asset monetization and capital returns, with the Liberty Growth portfolio holding a Fair Market Value (FMV) of $3.4 billion as of Q2 2025.

Here's the quick math on the asset monetization efforts:

Metric	Value	Status/Context
Non-Core Asset Disposal Target	$500-750 million	Annual target for asset sales.
Proceeds Year-to-Date (YTD)	~$300 million	Achieved via recent partial ITV stake sale.
Top Six Investments Concentration	>80%	Percentage of portfolio value held by top six investments.

Also, the company announced a major leadership transition: Dr. John C. Malone will step down from the Board effective January 1, 2026, transitioning to Chairman Emeritus. The company anticipates that its 2026 negative Adjusted EBITDA will be approximately $100 million, representing a 50% reduction from the run-rate going into 2025.

Business Solutions: Liberty Global plc offers value-added services beyond core connectivity. The company is leveraging its technology platforms for enterprise value creation.

• Liberty Blume, the tech-enabled back office, has 13 clients driving over $100 million in revenue for 2025.
• Liberty Tech achieved profitability on revenue of $475 million, optimized through outsourcing agreements.
• VMO2 successfully launched giffgaff broadband, supporting its multi-brand strategy in fixed services.

Operational Resilience: The reported financial performance in Q3 2025 demonstrates operational strength despite competitive markets. Liberty Global plc reported consolidated Adjusted EBITDA of $1,250.3 million for Q3 2025, marking a 6.8% year-over-year increase on a reported basis.

This operational metric supports the focus on efficiency drives, including corporate reshaping and cost savings across Liberty Corporate and Liberty Tech. The Adjusted EBITDA less Property & Equipment (P&E) additions for the quarter was $602.6 million, up 24.7% year-over-year on a reported basis.

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

Dedicated Account Management: Contractual, established pricing for large business services.

The focus on the Business-to-Business (B2B) segment shows mixed results across the operating companies. For instance, in Q1 2025, postpaid net additions reached 29,100, primarily driven by growth in B2B. However, this is contrasted by Q2 2025 postpaid net losses of 73,600, which were driven by low-margin B2B port outs. Liberty Global plc is bolstering its B2B presence, with VMO2 nearing the completion of its acquisition of the B2B business Daisy in Q2 2025. The overall Liberty Services & Corporate segment has an Adjusted EBITDA outlook for 2025 of negative ~$175 million.

Digital Self-Service: Online platforms for billing, support, and service management.

Liberty Global plc embeds digital tools to enhance customer interaction. The AI Agent Assist platform supports call centre staff at VodafoneZiggo in the Netherlands, with 200 agents using it. The overall strategy emphasizes digital tools to improve retention; VMO2 specifically reported growth in fixed-line Average Revenue Per User (ARPU) due to materially better retention resulting from digital and AI tools.

Base Management: Strong focus on reducing churn and driving ARPU growth.

Base management efforts are centered on driving ARPU growth through pricing actions while managing churn in competitive markets. The performance across key metrics for fixed-line customer relationships is detailed below:

Metric / Period End	VMO2 Fixed ARPU YoY Change	Telenet Fixed ARPU YoY Change	Broadband Net Adds/Losses (Quarterly)	Postpaid Net Adds/Losses (Quarterly)
Q4 2024	2.0% growth	N/A	9,900 net adds	15,600 net adds
Q1 2025	1.6% growth	N/A	31,000 net losses or 44,000 net losses	29,100 net adds or 122,800 net losses
Q2 2025	0.9% growth	3.1% growth	900 net adds (Telenet) or 51,400 net losses (Overall)	1,300 net adds (Telenet) or 73,600 net losses (Overall)

The FMC8 households metric, which tracks bundled services, reached 1.5 million at the end of Q4 2024, growing by 1,700 during that quarter.

Enhanced Service Levels: Business market prices for SOHO/small business customers.

The strategy involves using main brands to underpin value in premium segments and flanker brands to drive growth in low-cost segments. Telenet's BASE FMC offer, which targets this segment, has sold over 25,000 broadband subscriptions since its launch.

AI-Driven Optimization: Using AI for real-time traffic and energy management.

Liberty Global plc is actively investing in AI for operational efficiencies. The company estimates AI could shave 2% off operating costs annually over the next three years across its four main OpCos (Telenet, Virgin Media Ireland, VMO2, and VodafoneZiggo). The total expected annual savings and revenue uplift from AI is estimated to be between $200 million and $300 million. Of this potential $300 million, 70% is expected to come from cost savings. AI tools are also used in networks to improve in-home connectivity through preventative care and diagnostics.

• AI is expected to drive operational efficiency and enhance customer experience.
• AI-driven network management is essential for optimizing performance and driving energy efficiency.

Finance: draft 13-week cash view by Friday.

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

You're looking at how Liberty Global plc (LBTYA) gets its services-broadband, video, fixed-line, and mobile-into the hands of its customers across Europe. The channels are a mix of direct presence, digital interfaces, and partnerships, all supporting the 80 million fixed and mobile connections they manage across the continent.

The scale of the Liberty Telecom platform, which these channels feed, is substantial. As of the latest full-year 2025 update, this business generates an aggregate revenue of approximately $21.6 billion. This is a critical number because it shows the sheer volume these channels must support. Here's a breakdown of that revenue scale, which informs the channel strategy:

Revenue Component (Liberty Telecom)	Amount	Context
Aggregate Revenue	$21.6 billion	Total for Liberty Telecom business.
Revenue from Non-Consolidated Joint Ventures	$18 billion	Represents the majority of the Telecom revenue base.
Revenue from Consolidated Operations	$3.6 billion	Directly consolidated revenue for Liberty Telecom.

The company is heavily invested in network quality, which directly impacts the effectiveness of all sales channels. They are on track to complete approximately 73% of their fiber roll-out by the end of 2025. This high-speed infrastructure is what the sales channels are pushing.

Operating Company Retail: Branded stores and direct sales channels in Europe.

While specific store counts aren't public, the direct sales effort is tied to the performance of major brands like Virgin Media O2 (VMO2) in the U.K., VodafoneZiggo in the Netherlands, and Telenet in Belgium. The company is focused on base management, evidenced by having the best number of subscribers on 1Gbps+ speeds across Liberty Global. This retail push is supported by network upgrades, such as doubling broadband speeds for over 900,000 customers.

Digital Platforms: Websites and mobile apps for sales and customer care.

Digital interaction is clearly a focus for customer care and retention, with the company noting the lowest fixed churn levels since 2023 driven by proactive migrations and a WiFi guarantee program. Furthermore, the Liberty Services platform, which includes technology and finance arms, is scaling. Liberty Blume, for instance, officially launched its B2B marketing campaign in Q1 2025. The mobile side leverages a multi-brand strategy and cross-sell activities, including promotions like the iPhone 17 offers.

Wholesale Agreements: Providing network access to other service providers.

Wholesale is a key part of the value unlock strategy, especially concerning network monetization. The wholesale and off-net expansion is progressing well, with an anticipated new partner in Q1 2026. The revenue derived from joint ventures, such as the VMO2 and VodafoneZiggo partnerships, accounts for the bulk of the Liberty Telecom segment's scale, with combined annual revenue exceeding $18 billion based on 2023 figures.

Indirect Sales: Third-party dealers and distributors for mobile and fixed services.

Indirect channels are implied through the multi-brand mobile strategy and regional sales momentum, such as the strong regional sales seen in the South under the 'Base' brand for broadband and mobile. The mobile services in Virgin Media Ireland are delivered as a mobile virtual network operator through third-party networks, which is a direct function of this channel type.

B2B Sales Force: Dedicated teams for medium to large business service agreements.

The B2B focus is integrated within the Liberty Services platform. The business services offered include voice, advanced data, video, wireless, cloud-based services, and converged fixed-mobile services to medium and large enterprises. The launch of the Liberty Blume B2B marketing campaign in Q1 2025 signals a dedicated push through this channel. The overall corporate reshaping is also expected to drive cost efficiencies, with projected 2026 net corporate costs reduced to approximately $100 million.

The company is also actively managing its asset portfolio, targeting $500-$750 million in non-core asset disposals for 2025, with approximately $300 million achieved year-to-date as of Q3 2025. This capital rotation strategy is a financial lever that supports investment in these core channels and infrastructure.

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

Residential Consumers: Households demanding converged 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.

Specific segment movements in early 2025 included:

• VMO2 lost 44,000 broadband subscribers in Q1 2025.
• VodafoneZiggo shed 31,000 broadband customers in Q1 2025.
• VMO2 added 9,900 fixed broadband customers in Q4 2024.
• Telenet added 3,200 net broadband subscribers in Q4 2024.

Video customer counts at the end of 2024 totaled 1.95 million. At the end of 2024, Liberty Global reported 2.2 million internet subscribers across Telenet, UPC Slovakia, and Virgin Media Ireland.

Small Office/Home Office (SOHO): Small businesses needing enhanced service levels.

Most broadband communications subsidiaries provide services to SOHO subscribers who pay a premium for enhanced service levels. All mass marketed products provided to SOHOs are included in the respective RGU and customer counts of broadband operations, with only premium-priced services considered separately.

Medium to Large Enterprises: Businesses requiring advanced, contract-based services.

The acquisition of the B2B business Daisy by VMO2 is expected to bring approximately £125 million in incremental revenue from consolidation.

Segment/Metric	Unit	Value/Count (Latest Available)
VMO2 Postpaid Mobile Net Losses (Q1 2025)	Subscribers	122,800
VM Ireland B2B Non-Subscription Revenue	Trend (Q2 2025)	Notable Growth
Telenet B2B Equipment Sales (Q4 2024)	Trend	Robust

Wholesale Partners: Other telecom operators needing network capacity or access.

The combined consumer and wholesale revenue trend for Q3 2025 was stable at -0.1%. Virgin Media Ireland added a new wholesale customer during Q2 2025. An agreement was announced with Proximus in October 2025 to rationalize the fiber market, with a market test underway. Wholesale and off-net expansion anticipates a new partner in Q1 2026.

Financial Investors: Shareholders seeking value unlock through spin-offs and buybacks.

Liberty Global announced a buyback program for 2025 of up to 10% of shares outstanding. The company is targeting $500 million to $750 million in non-core asset disposals for 2025. Proceeds Year-to-Date (YTD) from disposals, including a partial ITV stake sale, reached approximately $300 million.

The Fair Market Value (FMV) of the Liberty Growth portfolio stood at $3.4 billion in Q3 2025. The company's debt-to-equity ratio was reported as 5.00. The spin-off of Sunrise implies over $10 per share of value to Liberty Global shareholders.

• Liberty Global Market Capitalization (as of Dec 6, 2025): $1.81 billion.
• 2025 Non-Core Asset Disposal Target Range: $500 million to $750 million.
• Proceeds YTD from Disposals (Q3 2025): Approximately $300 million.
• Liberty Growth Portfolio FMV (Q3 2025): $3.4 billion.

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

You're looking at the hard numbers that drive Liberty Global plc's expenses as of late 2025. It's a structure dominated by network build-out and managing a significant debt load, so let's map out where the cash is going.

Capital Expenditure (CapEx)

Capital spending, or Property, Plant, and Equipment (P&E) Additions, remains a major cost component, reflecting the ongoing commitment to fiber and 5G expansion across the Liberty Telecom footprint. For instance, in the first quarter of 2025, Liberty Global Consolidated reported Property and equipment additions of $594.2 million on a reported basis. The operational guidance reflects this heavy investment profile.

Specific CapEx guidance for key operations in 2025 highlights this focus:

• Virgin Media O2 (VMO2) P&E additions guidance for 2025 is set between £2.0 to £2.2 billion.
• Telenet has a guidance for P&E Additions as a percentage of revenue of around 38% for 2025.
• Virgin Media Ireland is expected to reach 80% of homes with fiber by year-end 2025.

Network Operating Costs

These are the day-to-day costs to keep the lights on and the content flowing. Programming costs, for example, saw a reduction at Telenet due to the decision not to renew certain sports rights. The overall cost base is under constant review for efficiencies, especially in areas like programming and operational expenses.

Corporate Overhead

Liberty Global plc has been aggressively targeting a reduction in its central administrative burden. The company improved its net corporate cost guidance for 2025 twice, settling on a target of $150 million for the full year. Honestly, seeing the path to $100 million in 2026 visibility shows a clear, sustained focus on trimming this area.

Debt Servicing

Servicing the substantial debt load is a non-negotiable, large-scale cost. For the quarter ending September 2025, the reported Interest Expense on Debt was $250.6 million. The structure of this debt is a key factor in the cost profile, though management notes that the balance sheets of the core operating businesses are strong with no maturities until 2028. Furthermore, a major financing action, a EUR 4.35 billion financing for the Wyre netco in Belgium, was announced to fund fiber build-out and reduce leverage at the Telenet servco, including all 2028 maturities.

Personnel Costs

Cost discipline initiatives are directly impacting personnel costs, often through restructuring. While specific redundancy scheme costs aren't itemized here, the drive for savings is evident in management commentary and revised guidance for service platforms. For example, the outlook for Liberty Services & Corporate Adjusted EBITDA for 2025 was raised to negative ~$175 million, driven by cost optimization initiatives. Virgin Media O2's Adjusted EBITDA growth was explicitly attributed to cost discipline.

Here's a quick look at some key financial metrics relevant to the cost base as of late 2025 reporting:

Financial Metric	Reported Amount (Latest Quarter 2025)	Context/Source
Net Corporate Costs Target (FY 2025)	$150 million	Full Year Guidance
Interest Expense on Debt (Q3 2025)	$250.6 million	Quarterly Expense
Liberty Services & Corporate Adj. EBITDA Outlook (FY 2025)	Negative ~$175 million	Revised Guidance
Consolidated P&E Additions (Q1 2025)	$594.2 million	Reported Basis
Wyre NetCo Financing Amount	EUR 4.35 billion	Belgium Refinancing

Finance: draft 13-week cash view by Friday.

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

You're looking at the core money-makers for Liberty Global plc (LBTYA) as of late 2025, which is a mix of steady subscription fees and strategic asset realization. Honestly, the story here is about extracting maximum value from the core European telecom assets while managing the transition from legacy video to high-speed connectivity.

The Total TTM Revenue for Liberty Global plc (LBTYA) stands at approximately $4.77 billion as of the Trailing Twelve Months ending September 30, 2025. This figure reflects a significant year-over-year increase, showing the underlying business momentum, even with the complexities of ongoing portfolio reshaping.

Here's a quick look at the recent top-line performance to give you context for that TTM number:

Reporting Period	Reported Revenue
Q3 2025	$1.21 billion
Q2 2025	$1.2691 billion

Residential Subscriptions form the bedrock of this revenue. This is the monthly fee you see from customers bundling broadband internet, television packages, and mobile communications services across Liberty Global plc (LBTYA)'s footprint in markets like the UK, the Netherlands, and Belgium. The performance here is key; for instance, the UK joint venture, VMO2, has been pushing improved broadband and mobile postpaid net customer additions, which directly feeds this stream.

Business Subscriptions capture the contractual revenue derived from serving smaller offices and home offices (SOHO) up to larger enterprise clients. This revenue stream is typically more stable due to longer-term contracts for connectivity and managed services. While specific segmentation isn't always broken out granularly, the operational progress in core telecom units is what drives this contractual income.

The company's revenue generation is heavily concentrated in its operating subsidiaries. To give you a sense of scale from the prior year, which still heavily influences the current mix:

• Telenet, a key subsidiary, was responsible for $3.08 billion of the $4.34 billion total revenue reported for the full year 2024.
• The Belgian operations, which include Telenet, generated approximately $2.92 billion in revenue in 2024.

Wholesale Revenue is the fee-based income generated by providing network access, capacity, or services to third-party operators and service providers. This stream leverages the significant infrastructure investments Liberty Global plc (LBTYA) has made, allowing others to use their networks, which is a capital-light way to monetize assets.

Finally, Investment Gains represent proceeds from the strategic management of the Liberty Growth portfolio, which is a separate pillar from the core telecom operations. The company has been actively progressing on its non-core asset disposal target, with management targeting proceeds in the range of $500 million to $750 million from these sales as part of its value-unlock strategy. As of late 2025, the fair market value of the remaining Liberty Growth portfolio was reported at $3.4 billion.

Finance: draft 13-week cash view by Friday.