Liberty Global Plc (LBTYB): Canvas du modèle d'entreprise [Jan-2025 Mise à jour]

Dans le paysage dynamique des télécommunications, Liberty Global PLC apparaît comme une puissance de connectivité numérique, tissant un réseau complexe qui couvre les marchés européens avec une précision stratégique remarquable. En mélangeant une infrastructure de pointe, des offres de services innovantes et des partenariats stratégiques, ce géant des télécommunications transforme la façon dont les entreprises et les consommateurs éprouvent une communication numérique et un divertissement. Du haut débit à haut débit aux solutions multiplateformes complètes, le Canvas du modèle commercial de Liberty Global révèle une approche sophistiquée qui va au-delà des télécommunications traditionnelles, positionnant l'entreprise comme une force transformatrice dans l'écosystème numérique.

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

Alliance stratégique avec Vodafone

Liberty Global a conclu un accord sur un opérateur de réseau virtuel mobile (MVNO) avec Vodafone sur plusieurs marchés européens. Le partenariat couvre:

• Vodafone fournissant une infrastructure de réseau mobile
• Liberty Global Offrage des services de télécommunications groupées
• Collaboration entre les marchés en Belgique, aux Pays-Bas et dans d'autres régions européennes

Détail du partenariat	Portée	Couverture du marché
Accord MVNO	Accès au réseau mobile	4 pays européens
Pack de services	Intégration fixe et mobile	Offres multiplay

Partenariats du fournisseur de contenu

Liberty Global collabore avec les principales plateformes de streaming:

• Intégration Netflix sur les plates-formes de câbles
• Distribution de contenu vidéo Amazon Prime
• Disney + partenariat pour l'agrégation de contenu

Accords de partage des infrastructures

Liberty Global a des partenariats de partage d'infrastructures avec:

• Sociétés de télécommunications locales en Belgique
• Fournisseurs d'infrastructures de réseau régional aux Pays-Bas
• Collaboration du réseau de fibres optiques en République tchèque

Coentreprise

Pays	Coentreprise	Valeur d'investissement
Suisse	Communications au lever du soleil	6,3 milliards de dollars
Royaume-Uni	Médias vierges	31,7 milliards de dollars

Partenariats technologiques

Collaboration technologique avec:

• Cisco Systems for Network Infrastructure
• Harmonic Inc. pour les technologies de livraison vidéo
• Commscope pour l'équipement à large bande

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

Développement et maintenance des infrastructures de télécommunications

Liberty Global a investi 1,4 milliard de dollars dans les mises à niveau des infrastructures de réseau en 2023. La couverture du réseau s'étend sur 11 pays européens avec 37 500 kilomètres d'infrastructure de réseau à fibre optique.

Métrique d'infrastructure	2023 données
Investissement total du réseau	1,4 milliard de dollars
Les pays couverts	11
Longueur du réseau à fibre optique	37 500 kilomètres

Provision de services Internet par câble et haut débit

Liberty Global fournit des services à large bande à 21,3 millions de clients résidentiels à travers l'Europe.

• Vitesse moyenne à large bande: 300 Mbps
• Pénétration du marché à large bande: 68% sur les marchés couverts
• Clients résidentiels à large bande: 21,3 millions

Services de diffusion et de streaming de télévision numérique

Liberty Global exploite des plateformes de télévision numérique avec 16,5 millions d'abonnés à la télévision.

Métrique du service de télévision	2023 données
Abonnés TV total	16,5 millions
Plateformes de télévision numérique	7 plateformes distinctes

Opérations de réseau mobile et services de réseau virtuel mobile

Liberty Global gère les services mobiles grâce à des partenariats et des opérations de réseau virtuel.

• Abonnés mobiles: 5,2 millions
• Partenariats de l'opérateur de réseau virtuel mobile (MVNO): 4 pays
• Revenus de données mobiles: 782 millions de dollars en 2023

Solutions de télécommunications d'entreprise et de consommation

Les services de télécommunications d'entreprise ont généré 1,1 milliard de dollars de revenus pour 2023.

Métrique des solutions d'entreprise	2023 données
Revenus de services aux entreprises	1,1 milliard de dollars
Clientèle d'entreprise	48 000 clients d'entreprise

Liberty Global Plc (LBTYB) - Modèle d'entreprise: Ressources clés

Infrastructure de télécommunications

Liberty Global opère dans 6 pays européens avec une infrastructure de réseau d'une valeur d'environ 22,3 milliards de dollars en 2023. Réponses de couverture du réseau:

Pays	Couverture réseau	Portée des fibres
Royaume-Uni	15,7 millions de maisons sont passées	8,2 millions de connexions en fibres
Belgique	3,2 millions de maisons sont passées	2,1 millions de connexions en fibres
Pays-Bas	4,5 millions de maisons sont passées	3,3 millions de connexions en fibres

Spectre et actifs réglementaires

Licences de spectre et approbations réglementaires d'une valeur de 1,7 milliard de dollars, couvrant:

• Licences de spectre 5G sur plusieurs marchés européens
• Droits de distribution de télévision par câble
• Permis opérationnels de télécommunications

Plates-formes technologiques

Les capacités de service numérique comprennent:

• Technologie du réseau DOCSIS 3.1 et 4.0
• Infrastructure à large bande avancée
• Plates-formes de service basées sur le cloud

Ressources de la main-d'œuvre

Compte total des employés: 24 500 professionnels sur les marchés européens, avec:

Catégorie de compétences	Nombre d'employés
Opérations techniques	8,700
Service client	6,300
Technologie numérique	5,200
Gestion	4,300

Ressources financières

Actif total: 54,6 milliards de dollars, avec des actifs liquides de 3,2 milliards de dollars au quatrième trimestre 2023.

Liberty Global Plc (LBTYB) - Modèle d'entreprise: propositions de valeur

Services Internet à haut débit haut débit

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

Type de service	Plage de vitesse	Abonnés mensuels moyens
Haut débit à fibre optique	100-1000 Mbps	4,2 millions
Internet par câble	50-500 Mbps	3,8 millions

Packages de divertissement numériques complets

Les offres de divertissement numérique comprennent:

• Services vidéo à la demande avec plus de 15 000 titres de contenu
• Streaming télévisé en direct sur plus de 200 chaînes
• Disponibilité du contenu 4K: 500+ programmes

Solutions de télécommunications intégrées

Segment	Revenus annuels	Pénétration du marché
Télécommunications d'entreprise	1,3 milliard de dollars	38% de part de marché de l'entreprise
Télécommunications grand public	2,7 milliards de dollars	Part de marché résidentiel de 42%

Connectivité multiplateforme

Infrastructure de connectivité:

• Couverture du réseau mobile: 22 pays
• Répartie fixe: 16 marchés européens
• Investissement total d'infrastructure du réseau: 4,6 milliards de dollars

Prix ​​compétitifs et offres de services groupés

Type de paquet	Prix ​​mensuel	Services inclus
Pack de base	$49.99	Internet + téléviseur de base
Paquet premium	$89.99	Internet à haut débit + TV premium + mobile

Liberty Global Plc (LBTYB) - Modèle d'entreprise: relations avec les clients

Plates-formes numériques en libre-service et applications mobiles

Liberty Global propose une application mobile MyVodafone avec 3,2 millions d'utilisateurs mensuels actifs sur les marchés européens. La plate-forme numérique a traité 42% des interactions du service client en 2023.

Plate-forme numérique	Métriques d'engagement des utilisateurs
Application myvodafone	3,2 millions d'utilisateurs actifs mensuels
Gestion de compte en ligne	42% des interactions du service client

Canaux de support client 24/7

Liberty Global maintient plusieurs canaux de support client avec un taux de résolution de 98,6% en premier contact.

• Prise en charge du téléphone: disponible en 6 langues
• Chat en direct: temps de réponse en moins de 3 minutes
• Assistance par e-mail: garantie de redressement 24 heures

Packages de services personnalisés

Liberty Global propose 17 paquets de services personnalisés sur les marchés européens avec une pénétration moyenne des clients de 2,3 services par ménage.

Pack de services	Pénétration du marché
Package à quad	35% de la clientèle
Package à triple jeu	48% de la clientèle

Programmes de fidélité et stratégies de rétention de la clientèle

Le taux de rétention de la clientèle s'élève à 87,4% avec l'adhésion au programme de fidélité couvrant 62% de la base totale des abonnés.

• Récompenses de fidélité annuelles: 75 € Valeur moyenne
• Remise des clients à long terme: jusqu'à 15% de réduction
• Programme de référence: 50 € Crédit par référence réussie

Ventes directes et engagement client en ligne

Les canaux de vente directs ont généré 1,2 milliard d'euros de revenus en 2023, avec un taux de conversion en ligne de 24,6%.

Canal de vente	Contribution des revenus
Ventes directes en ligne	1,2 milliard d'euros
Taux de conversion en ligne	24.6%

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

Site Web en ligne et plateformes numériques

Liberty Global exploite plusieurs plateformes numériques sur ses marchés européens, notamment:

Pays	Plate-forme numérique	Utilisateurs actifs (2023)
Royaume-Uni	Médias vierges	5,3 millions
Pays-Bas	Ziggo	4,1 millions
Belgique	Telenet	2,7 millions

Magasins de détail et centres de services physiques

Liberty Global maintient les emplacements des services physiques sur ses marchés opérationnels:

• Total des lieux de vente au détail: 287 à travers l'Europe
• Taille moyenne du magasin: 150-200 mètres carrés
• Interactions annuelles du client dans les centres physiques: 3,2 millions

Télévenant et marketing direct

Les canaux de vente directs comprennent:

Canal	Volume de contact annuel	Taux de conversion
Télévenant sortant	1,6 million d'appels	12.4%
Campagnes de publipostage	4,2 millions de contacts	7.8%

Applications mobiles

Statistiques des applications mobiles de Liberty Global:

• Téléchargements totaux d'applications mobiles: 8,7 millions
• Utilisateurs actifs mensuels: 3,5 millions
• Plateformes disponibles: iOS et Android

Réseaux de distribution de partenaires

Les partenariats de distribution comprennent:

Type de partenaire	Nombre de partenaires	Portée de la couverture
Partenaires électroniques de vente au détail	214	85% des marchés
Revendeurs de télécommunications	76	72% des marchés

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

Consommateurs résidentiels du haut débit et de la télévision

Liberty Global dessert environ 20,5 millions de clients à large bande à travers l'Europe au troisième trimestre 2023. La clientèle résidentielle est répartie:

Pays	Abonnés à large bande
Royaume-Uni	5,6 millions
Belgique	3,2 millions
Irlande	2,1 millions
Suisse	1,9 million

Petites et moyennes entreprises

Liberty Global cible les PME avec des solutions de télécommunications spécialisées:

• Total de clientèle PME: 1,3 million d'entreprises
• Revenus mensuels moyens par Client PME: 185 €
• Les offres de services incluent Internet dédié, les services cloud et les forfaits de cybersécurité

Clients de télécommunications de grandes entreprises

Répartition des revenus du segment des entreprises:

Segment	Revenus annuels
Connectivité d'entreprise	412 millions d'euros
Services de réseau gérés	276 millions d'euros

Abonnés du réseau mobile

Statistiques des clients mobiles:

• Total des abonnés mobiles: 6,8 millions
• Utilisation des données mobiles par abonné: 12,4 Go par mois
• Arpu mobile (revenus moyen par utilisateur): 14,50 €

Consommateurs de divertissement numérique

Métriques du segment du divertissement numérique:

Service	Nombre d'abonné
Streaming vidéo	4,2 millions
Télévision numérique	8,7 millions
Contenu à la demande	3,9 millions d'utilisateurs actifs

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

Maintenance et expansion des infrastructures réseau

En 2023, Liberty Global a investi 1,2 milliard de dollars dans la maintenance et l'expansion des infrastructures réseau. Répartition spécifique des coûts:

Catégorie	Dépense
Mises à niveau du réseau de fibres	587 millions de dollars
Remplacement de l'équipement	342 millions de dollars
Expansion de la capacité du réseau	271 millions de dollars

Acquisition et licence de contenu

Les coûts de contenu pour 2023 ont totalisé 653 millions de dollars, distribués comme suit:

Type de contenu	Coût annuel de licence
Programmation sportive	276 millions de dollars
Licence de séries de films / télévision	224 millions de dollars
Production de contenu originale	153 millions de dollars

Recherche et développement technologiques

Dépenses de R&D en 2023:

• Budget total de R&D: 412 millions de dollars
• Développement de logiciels: 187 millions de dollars
• Technologie de streaming: 115 millions de dollars
• Innovations de cybersécurité: 110 millions de dollars

Frais de marketing et d'acquisition des clients

Dépenses marketing pour 2023:

Canal de marketing	Dépense
Marketing numérique	98 millions de dollars
Publicité médiatique traditionnelle	76 millions de dollars
Promotions d'acquisition des clients	62 millions de dollars

Salaires des employés et frais généraux opérationnels

Répartition des coûts opérationnels pour 2023:

• Compensation totale des employés: 735 millions de dollars
• Salaire moyen des employés: 87 500 $
• Frais généraux opérationnels: 412 millions de dollars
• Frais administratifs: 167 millions de dollars

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

Frais d'abonnement Internet à large bande

Liberty Global a généré 3,1 milliards d'euros de revenus d'abonnement sur Internet à large bande en 2022. La société a déclaré 21,5 millions d'abonnés à large bande sur ses marchés européens.

Marché	Abonnés à large bande	Revenus mensuels moyens par abonné
Royaume-Uni	5,6 millions	€22.50
Belgique	4,3 millions	€25.30
Pays-Bas	4,2 millions	€27.80

Revenus de service de télévision numérique

Les services de télévision numérique ont généré 2,7 milliards d'euros de revenus pour Liberty Global en 2022, avec 19,3 millions d'abonnés à la télévision totale.

• Prix ​​moyen mensuel du package TV: 35,60 €
• Abonnements aux canaux premium: 8,90 € supplémentaires par mois
• Revenus de contenu à la demande: 412 millions d'euros

Frais de service de réseau mobile

Les services mobiles ont contribué 1,6 milliard d'euros aux revenus de Liberty Global en 2022, avec 7,2 millions d'abonnés mobiles.

Type de service	Revenu	Abonnés
Voix mobile	680 millions d'euros	5,1 millions
Données mobiles	920 millions d'euros	6,8 millions

Solutions de télécommunications d'entreprise

Les services de télécommunications d'entreprise et B2B ont généré 1,2 milliard d'euros de revenus pour Liberty Global en 2022.

• Solutions de réseau d'entreprise: 520 millions d'euros
• Cloud and Security Services: 380 millions d'euros
• Services informatiques gérés: 300 millions d'euros

Revenu des licences de publicité et de contenu

Liberty Global a gagné 456 millions d'euros de la publicité et des licences de contenu en 2022.

Source de revenus	Revenus totaux
Publicité numérique	278 millions d'euros
Licence de contenu	178 millions d'euros

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

You're looking at the core offerings that Liberty Global plc is pushing to keep its European connectivity and services business competitive through late 2025. The value propositions center on bundling, speed leadership, shareholder returns, and scaling a new B2B services platform.

Converged fixed-mobile services (quad-play bundles)

Liberty Global's core value proposition is delivering Fixed-Mobile Convergence (FMC) across its primary operating companies. Liberty Telecom currently provides over 80 million\ connections across Europe, including through Virgin Media O2 (VMO2), VodafoneZiggo, Telenet, and Virgin Media Ireland.

The penetration of these bundles is a key metric for customer stickiness:

• VMO2 FMC households reached 1.5 million at the end of 2024.
• Telenet reported 861,000 FMC households at the end of 2024.
• VodafoneZiggo had FMC penetration stable around 2.7 million as of Q1 2024.

Ultrafast broadband speeds, including 2 Gbps service rollout

Liberty Global plc is focused on moving customers into a gigabit society using both Fiber-to-the-Home (FTTH) and HFC network upgrades like DOCSIS 3.1 and 4.0.

Specific rollout targets and achievements for 2025 include:

Operation/Metric	Target/Achievement	Context/Date
VodafoneZiggo 2 Gbps Offering	Launched in October 2025, reaching nearly 7 million homes by year-end 2025	Q3 2025 Data
VMO2 Additional Fiber Premises	Targeting 2.5 million additional premises	Late 2025 Target
Virgin Media Ireland FTTH Coverage	Aims to cover 80% of homes with fiber	End of 2025 Target
Wyre (Telenet) FTTH Build	On track to add 375,000 FTTH homes passed	End of 2025 Target

In terms of realized speed performance, in areas where data is available, the proportion of very fast speed tests (over 300 Mbps) jumped to 22.90% currently, up from 9.56% the prior year.

Access to exclusive content and premium video services

While investing in network infrastructure, Liberty Global plc continues to manage its video base, which is seeing subscriber erosion due to competitive alternatives. The company ended 2024 with 1.95 million total video customers across its operations. However, specific premium content offerings, such as Ziggo Sport Totaal at VodafoneZiggo, showed growth in Q4 2024 subscribers.

Shareholder value creation via up to 10% share buyback program in 2025

A primary value proposition for shareholders is the commitment to capital return and stock price support. Liberty Global plc authorized a share buyback program for 2025 to repurchase up to 10% of its outstanding shares as of December 31, 2024.

Progress on this commitment includes:

• Repurchases from July 1, 2025, to September 30, 2025, totaled 5,037,081 shares for $55.76 million.
• The company is targeting $500 million to $750 million from non-core asset disposals during 2025.
• The Liberty Growth portfolio had a Fair Market Value (FMV) of $3.4 billion as of Q2 2025.

B2B tech-enabled back-office solutions via Liberty Blume

Liberty Blume, the rebranded financial services and tech solutions arm under the Liberty Services pillar, is positioned to offer external B2B services based on internal expertise. This pillar generated approximately $600 million in revenue.

Key metrics for the Liberty Blume platform as of its 2025 launch and Q2 progress:

• Liberty Blume was generating over $100 million in annual revenue from internal Liberty Global Group businesses as of early 2025.
• The business employs 900 people across seven locations.
• The company expects to deliver double-digit revenue growth in 2025.
• The overall Liberty Services & Corporate Adj. EBITDA outlook for full year 2025 improved to negative $150 million.

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

You're looking at how Liberty Global plc manages its relationships with its millions of customers across Europe as of late 2025. It's a mix of digital-first for the masses and dedicated support for the enterprise side.

Automated self-service via online portals and apps

The push toward digital interaction is clear, especially as Liberty Global focuses on improving retention through digital channels. While direct usage statistics for self-service portals aren't public, the strategy supports a massive base. As of March 31, 2025, Liberty Global plc served approximately 11.5 million fixed-line customers and over 44 million mobile subscribers across its reportable segments. This scale necessitates high levels of automation to manage support and billing efficiently.

Here's a snapshot of the customer base size underpinning these relationship efforts:

Metric	Value (as of Q1 2025 or latest reported)	Context/Unit
Total Fixed-Line Customers	11.5 million	As of March 31, 2025
Total Mobile Subscribers	44 million+	As of March 31, 2025
VMO2 Internet Subscribers	5.7 million	End of 2024
VodafoneZiggo Internet Customers	3.1 million	End of 2024

Dedicated account management for large B2B clients

For larger business and public sector organizations, Liberty Global structures its support through its Liberty Services platforms, specifically Liberty Tech and Liberty Blume. This unit, which employs 1,300 staff, is actively expanding its external client base beyond its internal group support role. The strategy involves building out capabilities in areas like connectivity, financial services, and cloud collaboration. For instance, Liberty Blume is set to launch a B2B energy offering and a lending services line in 2025, which would require dedicated, high-touch account management for those enterprise clients. The overall Liberty Services & Corporate Adjusted EBITDA outlook for 2025 is improved to negative ~$175 million, driven by these cost optimization initiatives, which includes managing the cost-to-serve for these segments.

Customer service centers for technical support and billing

The company is actively working to improve service quality, which directly impacts the operational centers handling technical support and billing inquiries. A concrete example of success in this area comes from the Virgin Media O2 (VMO2) joint venture. As of the second quarter of 2025, the customer service transformation efforts there have resulted in more than halved Virgin Media complaints year-over-year. This suggests significant investment in agent tools, process efficiency, or deflection to self-service channels.

Relationship-based retention efforts for high-value customers

Liberty Global uses pricing and value focus to maintain relationships, particularly with its most valuable fixed-line customers. The focus on value is evident in the ARPU (Average Revenue Per Unit) performance, which is a key indicator of high-value customer health. Fixed ARPU maintained positive growth, showing a 1.6% year-over-year increase in Q1 2025 ahead of price rise implementation in Q2. This growth was explicitly supported by a value focus and improved retention efforts. However, the competitive environment still pressures the base; Q1 2025 saw broadband net losses of 44,000, primarily driven by elevated churn following a high level of market discounting during that quarter. The company counters this by emphasizing customer centricity and digital retention strategies.

• Fixed ARPU growth in Q1 2025: 1.6% YoY.
• Q1 2025 Broadband net losses: 44,000.
• Q1 2025 Postpaid net losses: 122,800 (driven by lower value B2B disconnections).
• VMO2 postpaid mobile net losses in Q2 2025: 73,600.

The strategy involves using main brands to underpin value in premium segments while deploying flanker brands to drive growth in lower-cost segments, a clear segmentation approach to relationship management.

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

You're looking at how Liberty Global plc (LBTYB) gets its services-broadband, mobile, and TV-into the hands of customers across the UK, Netherlands, and Ireland as of late 2025. The channel strategy is a mix of physical presence, direct customer engagement, digital platforms, and increasingly, wholesale network access.

For direct customer acquisition, the physical footprint through retail stores and kiosks in European operating countries remains active, though specific store counts aren't detailed in the latest reports. What we see reflected in the numbers is the output of these efforts, alongside direct sales teams targeting both residential and B2B customers. The commercial results from Liberty Telecom operations in Q3 2025 show improved net additions across broadband and postpaid services in the UK, Netherlands, and Ireland, indicating the sales engine is gaining traction. For instance, postpaid net adds reached 17,200 in Q3 2025, and broadband net losses of 18,500 showed sequential improvement. The B2B segment is also a focus, with Virgin Media O2 bolstering its position through the acquisition of the B2B business Daisy.

The online sales and e-commerce platforms are integral, supporting multi-brand strategies like VMO2 launching giffgaff broadband to increase reach. This digital push complements the physical channels. Furthermore, the wholesale channel is a major strategic focus for monetizing network assets. The pause on VMO2's potential NetCo stake sale was announced to align with the JV partner's strategic review, though they remain opportunistic on network development. This NetCo structure is key to the wholesale agreements for network access. For example, in the UK, the nexfibre wholesale network aims to reach up to 7 million UK homes. Virgin Media Ireland is also pushing its FTTH rollout, targeting 80% of homes with fiber by year-end, a move that supports future wholesale opportunities. Separately, Q1 2025 saw continued strong growth in B2B wholesale revenue, helping offset other revenue pressures.

Here's a look at some key operational metrics that reflect the performance across these channels through the third quarter of 2025:

Metric	Value (Q3 2025)	Context/Unit
Total Consolidated Revenue (US GAAP)	$3,436.0 million	Reported basis
Adjusted EBITDA (US GAAP)	$1,250.3 million	Reported basis
Postpaid Net Adds	17,200	Liberty Telecom operations
Broadband Net Losses (Sequential Change)	18,500	Improvement sequentially
VodafoneZiggo 2 Gbps Reach	Nearly 7 million homes	Expected by year-end
VMO2 HFC/FTTP Premises Covered	Over 16 million	Pre-upgrade footprint

The strategic direction for channels is heavily weighted toward infrastructure monetization and multi-brand market coverage:

• VMO2 launched giffgaff broadband to support its multi-brand fixed strategy.
• Telenet is advancing discussions on fiber market rationalization in Flanders with Proximus.
• The nexfibre wholesale network is targeting up to 7 million UK homes.
• Liberty Global is tracking towards a share buyback of around 5% of shares outstanding for 2025.
• The Liberty Growth portfolio Fair Market Value (FMV) stood at $3.4 billion in Q3 2025.

The company is clearly using its network assets as a channel itself through wholesale agreements, even while pausing the formal sale process for the VMO2 NetCo stake.

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

You're looking at the core groups Liberty Global plc (LBTYB) serves across its European operations. Honestly, it's a mix of direct-to-consumer connectivity and strategic B2B/wholesale relationships, all underpinned by a massive shareholder base that expects value return.

Mass-market residential consumers in Europe (e.g., UK, Netherlands, Belgium)

This segment is the bread and butter, delivered through major brands like Virgin Media O2 (VMO2) in the UK, Telenet in Belgium, and VodafoneZiggo in the Netherlands. The focus is on Fixed Mobile Convergence (FMC) bundles.

As of the end of 2024, Liberty Global's continuing operations served approximately 80 million connections across broadband internet, video, fixed-line telephony, and mobile services in Europe. 2.5 million of these were fixed-line customers, and 3 million were mobile subscribers across the continuing operations footprint.

Digging into the joint ventures and key markets at year-end 2024:

• VMO2 JV internet subscribers reached 5.74 million, with the fixed broadband base growing by just over 21,000 during the year.
• VMO2 JV retail mobile customer base stood at 23.2 million, though total mobile connections, including IoT, were 35.65 million.
• VodafoneZiggo JV ended 2024 with 3.1 million internet customers.
• Total video customers across the group ended 2024 at 1.95 million.
• FMC8 households (Fixed-Mobile Convergence) reached 1.5 million at the end of 2024.

The start of 2025 showed some pressure; for instance, Q1 2025 saw broadband net losses of 44,000 and postpaid net losses of 122,800 across the reporting segments. Still, Telenet saw a modest recovery in Q4 2024, adding 3,200 net broadband subscribers, partly due to its BASE FMC offer, which sold over 25,000 broadband subscriptions since launch.

Small, Medium, and Large Business (B2B) customers

The B2B segment is a key area for subscription stability, though non-subscription revenue can be volatile. For the full year 2024, organic B2B revenue saw a 2.7% decrease, but this masks a positive trend in recurring revenue.

Here's a quick look at the B2B revenue components for FY 2024:

B2B Revenue Component	Organic Change (FY 2024)
B2B Subscription Revenue	3.2% increase
B2B Non-Subscription Revenue	8.2% decline

The VMO2 JV saw its B2B segment add 5,800 customers in Q4 2024, helping to partially offset consumer declines that quarter. However, Q1 2025 postpaid net losses were primarily driven by lower value B2B customer disconnections.

Wholesale partners utilizing network infrastructure

This segment involves providing capacity or services to other operators. While it contributes to overall network utilization, specific revenue figures for this segment are often embedded or noted via contract changes. For example, Telenet saw a decrease in B2B wholesale revenue in Q2 2024 following the loss of the VOO MVNO contract. The company is also progressing on defining the perimeter for a fixed NetCo in the UK, which implies future wholesale opportunities, and has a pending fiber sharing agreement with Proximus in Belgium.

Financial and strategic investors (LBTYB shareholders)

Shareholders are a critical segment as they provide the capital base and influence major strategic moves. As of January 31, 2025, the total outstanding common shares were:

• Class A: 173,057,058 shares
• Class B: 12,968,658 shares
• Class C: 162,728,947 shares

This structure supports shareholder return initiatives. The market value of voting and non-voting common equity held by non-affiliates was $5.7 billion as of the last business day of the Registrant's most recently completed second fiscal quarter (Q2 2024). Liberty Global supported shareholder returns in 2024 with approximately $700 million in share buybacks and announced a further buyback program of up to 10% of shares outstanding in 2025. Also, the spin-off of Sunrise represented a CHF 3.0 billion tax-free dividend to Liberty Global shareholders.

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

You're looking at the core expenditures that keep Liberty Global plc's complex European network running and expanding. The cost structure is heavily weighted toward infrastructure investment and ongoing operational upkeep across multiple markets.

Heavy Capital Expenditure (CapEx) for fiber/5G build-out

Capital expenditure is a defining feature of Liberty Global plc's cost base, driven by the commitment to next-generation networks. The company plans network upgrades to reach an additional 6 million homes by 2026, with the goal that 70% of those homes will be served by Fiber-to-the-Home (FTTH) by 2028. The scale of this investment is clear when looking at specific operating company guidance.

For instance, the Virgin Media O2 (VMO2) joint venture confirmed its 2025 Property, Plant, and Equipment (P&E) additions guidance to be in the range of £2.0 to £2.2 billion. Furthermore, the financing for the Belgian NetCo, Wyre, was announced at EUR 4.35 billion, which management stated fully funds the fiber build-out there. The VMO2 spectrum acquisition from Vodafone/3 also represented a significant outlay, costing £343 million.

Here's a quick view of some of the major infrastructure-related financial commitments:

Cost Component	Entity/Context	Reported/Guidance Amount (2025)
P&E Additions Guidance	Virgin Media O2 (VMO2)	£2.0 to £2.2 billion
Fiber Build-out Financing	Wyre (Belgium NetCo)	EUR 4.35 billion
Spectrum Acquisition Cost	VMO2 (from Vodafone/3)	£343 million
Targeted Non-core Asset Sales Proceeds	Liberty Growth Portfolio (Target)	$500 million to $750 million

The company is actively managing this by targeting $500 million to $750 million in non-core asset disposals during 2025 to help fund these capital-intensive activities.

Network operations and maintenance costs

Keeping the existing network running across the multiple European markets is a constant, substantial cost. While specific aggregate 2025 figures for total network operations and maintenance across the entire group aren't explicitly guided in the same way as CapEx, these costs are a primary driver in the Adjusted EBITDA calculations for the operating companies. For example, lower network operating costs were cited as a positive driver for Adjusted EBITDA in one segment during Q1 2025.

Programming and content acquisition costs

Content remains a significant variable cost, especially for video and TV services. Management noted that higher programming costs were a factor in the year-over-year changes for Q4 2024 results, and this pressure generally continues. The cost structure must absorb these fees, which are partially offset by commercial momentum, such as bundling deals including Netflix in the U.K.

Net corporate costs reduced to $150 million for 2025 guidance

Liberty Global plc has been aggressively streamlining its central overhead. The 2025 net corporate cost guidance has been improved to $150 million for the year. This reflects successful cost optimization initiatives, with management seeing visibility to just $100 million of net corporate costs in 2026. These savings are largely achieved through reorganization and headcount reductions, with a short payback period of under 12 months.

Employee salaries and benefits across multiple European markets

Personnel costs are a major component of operating expenses across the various European operating companies. The cost of labor is subject to local market dynamics and collective agreements. One concrete factor impacting 2025 expenses was the mandatory 3.6% wage indexation as of January, which contributed to higher staff-related expenses in early 2025 reports. To give you a sense of the underlying salary levels in key markets, third-party data suggests:

• Average salary for an employee in the United Kingdom in 2025 is cited around £50,752.
• A general average employee salary across the company is cited around $66k in 2025.
• The median yearly total compensation reported for roles at Liberty Global plc is around $90,602.

Finance: draft 13-week cash view by Friday.

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

You're looking at the hard numbers driving Liberty Global plc's top line as of late 2025. The revenue streams are clearly segmented across their core telecom operations, their significant joint ventures, and the growth-focused Liberty Growth portfolio.

The foundation of the revenue comes from the recurring subscription fees generated by the Liberty Telecom segment, which includes operations like Virgin Media O2 and Telenet. While the precise split between fixed-line and mobile subscriptions isn't itemized in the latest reports, the consolidated businesses within Liberty Telecom generate approximately $3.6 billion in annual revenue, based on recent full-year 2024 figures which management is working to grow upon in 2025. For instance, fixed Average Revenue Per User (ARPU) growth was reported at a 1.6% year-over-year increase in the first quarter of 2025, showing pricing power is being applied to the fixed-line base.

The contribution from the major non-consolidated joint ventures is substantial. The combined annual revenue from the Virgin Media O2 (VMO2) and VodafoneZiggo joint ventures is reported to be more than $18 billion. This revenue stream is critical, though it has faced headwinds; for example, in Q1 2025, VMO2 revenue declined by 4.8% and VodafoneZiggo revenue declined by 5.6% year-over-year.

Liberty Services, which focuses on technology and finance services, is a smaller but distinct revenue contributor. This platform is generating approximately $600 million in revenue annually, based on full-year 2024 figures. Management is focused on reshaping this area for cost efficiency, with an improved Adjusted EBITDA outlook for Liberty Services & Corporate for 2025.

Finally, a key component of the financial strategy is realizing cash from the Liberty Growth portfolio through asset disposals. Liberty Global plc is actively targeting proceeds from strategic asset sales in 2025, with a stated goal to realize between $500 million and $750 million. As of the third quarter of 2025, the company had already generated $300 million in proceeds from these non-core asset sales year-to-date.

Here is a snapshot of the key financial figures related to Liberty Global plc's revenue streams:

Revenue Source Category	Financial Metric/Target	Amount (USD/USD Equivalent)
Non-Consolidated JVs (VMO2 & VodafoneZiggo)	Aggregate Annual Revenue	More than $18 billion
Liberty Telecom (Consolidated Operations)	Estimated Annual Revenue (Proxy for Subscriptions)	$3.6 billion
Liberty Services	Annual Revenue (Based on FY2024)	$600 million
Strategic Asset Sales	2025 Target Proceeds	$500 million - $750 million
Strategic Asset Sales	Proceeds Year-to-Date (as of Q3 2025)	$300 million

You can see the revenue generation is heavily weighted toward the JVs, but the asset sales are a crucial, targeted cash inflow for the year.

• Subscription fees are underpinned by fixed-line ARPU growth, which saw a 1.6% year-over-year increase in Q1 2025.
• Mobile services revenue is tied to postpaid ARPU, which declined by 2.3% in Q4 2024.
• The Liberty Growth portfolio's Fair Market Value (FMV) stood at $3.4 billion as of Q2 2025.

Finance: draft 13-week cash view by Friday.