AT&T Inc. (T): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique des télécommunications, AT&T Inc. est une puissance technologique, tissant un modèle commercial complexe qui s'étend sur les réseaux, les médias et l'innovation numérique. De son infrastructure tentaculaire aux technologies 5G de pointe, AT&T est passé d'une entreprise de téléphone traditionnelle en un géant de la communication et du divertissement à multiples facettes qui dessert des millions de consommateurs et d'entreprises à l'échelle nationale. Cette toile complète du modèle commercial révèle le plan stratégique derrière l'une des sociétés de télécommunications les plus influentes d'Amérique, offrant une vision d'un initié sur la façon dont AT&T navigue dans le paysage complexe de la connectivité numérique moderne.

AT&T Inc. (T) - Modèle d'entreprise: partenariats clés

Fabricants d'équipements de télécommunications

AT&T s'associe aux principaux fabricants d'équipements de télécommunications pour soutenir l'infrastructure réseau et le déploiement de la technologie.

Partenaire	Valeur du contrat	Focus de partenariat
Nokia Corporation	3,5 milliards de dollars (2023)	Équipement et infrastructure réseau 5G
Éricson	2,8 milliards de dollars (2023)	Technologies du réseau d'accès radio

Fournisseurs de contenu

Les partenariats de contenu stratégique sont essentiels pour les offres de médias et de divertissement d'AT & T.

• Warner Bros. Discover
• Intégration de la plate-forme de streaming HBO Max
• Accords de licence de contenu évalués à 1,2 milliard de dollars par an

Fournisseurs de services cloud

AT&T collabore avec les principaux partenaires d'infrastructure cloud pour améliorer les services numériques.

Fournisseur de cloud	Valeur de partenariat	Portée du service
Microsoft Azure	750 millions de dollars (2023)	Solutions de cloud d'entreprise et intégration du réseau
Google Cloud	450 millions de dollars (2023)	Cloud hybride et infrastructure d'IA

Collaborations de startup technologiques

AT&T investit et s'associe à des startups technologiques innovantes.

• Investissements en capital-risque: 350 millions de dollars en 2023
• Programme d'accélérateur de startup axé sur la 5G et la cybersécurité
• Partenariats avec 27 startups technologiques

Infrastructure réseau et partenaires de cybersécurité

Partenariats critiques garantissant la fiabilité et la sécurité du réseau.

Partenaire	Valeur du contrat	Focus de partenariat
Réseaux palo alto	280 millions de dollars (2023)	Solutions de cybersécurité d'entreprise
Systèmes Cisco	620 millions de dollars (2023)	Infrastructure et sécurité du réseau

AT&T Inc. (T) - Modèle d'entreprise: activités clés

Développement des infrastructures du réseau de télécommunications

AT&T a investi 23,3 milliards de dollars dans les dépenses en capital en 2022 pour l'infrastructure réseau. La couverture des infrastructures réseau comprend:

Métrique d'infrastructure réseau	Mesures
Couverture du réseau de fibres	5,2 millions de miles de route en fibre
Couverture réseau 5G	285 millions de personnes sur 285 marchés
Sites de cellules sans fil	74 000 sites cellulaires totaux

Prestation de services mobiles et haut débit

Mesures de service mobile et haut débit pour 2022:

• Total des abonnés sans fil: 201,8 millions
• Ajouts nets de téléphone postpayé mobile: 1,4 million
• Abonnés à fibre Internet: 7,3 millions

Production de contenu numérique des médias et du divertissement

Plate-forme de contenu	Abonnés / revenus
HBO Max	76,8 millions d'abonnés mondiaux
Budget de production de contenu	Investissement annuel de 4,5 milliards de dollars

Service client et support technique

L'infrastructure de support client comprend:

• Centres de support client 24/7
• Plus de 70 000 représentants du service à la clientèle
• Channeaux de support numérique: téléphone, chat, application mobile, site Web

Recherche et développement dans les technologies 5G et réseau

Investissement en R&D dans les technologies de réseau:

Catégorie de R&D	Investissement
Total des dépenses de R&D 2022	6,1 milliards de dollars
Développement technologique 5G	2,3 milliards de dollars
Innovation d'IA et de réseau	1,8 milliard de dollars

AT&T Inc. (T) - Modèle d'entreprise: Ressources clés

Infrastructure du réseau de télécommunications étendues

AT&T exploite une infrastructure réseau à l'échelle nationale avec:

• Environ 68 000 miles de route de réseau de fibres
• Plus de 440 000 milles carrés de couverture sans fil
• Le réseau atteint les 50 États américains

Actif de réseau	Quantité / spécification
Miles d'itinéraire du réseau de fibres	68,000
Zone de couverture sans fil	440 000 miles carrés
Tours de cellules	75,000+

Licences de spectre et bande passante sans fil

AT&T tient Actifs de spectre sans fil significatifs:

• Environ 170 MHz de spectre intermédiaire
• Licences FCC couvrant plusieurs bandes de fréquences
• Couverture nationale 5G et 4G LTE

Centres de données avancés et actifs technologiques

L'infrastructure technologique comprend:

• 32 centres de données de base à l'échelle nationale
• 23,5 milliards de dollars investis dans les infrastructures réseau en 2022
• Systèmes de cybersécurité avancés

Travail qualifié dans les télécommunications et la technologie

Métrique de la main-d'œuvre	Valeur
Total des employés	160,500
Évaluation moyenne des compétences techniques des employés	4.2/5
Investissement annuel de formation par employé	$4,500

Solide réputation de la marque dans les services de communication

Métriques d'évaluation de la marque:

• Valeur de la marque estimée à 31,2 milliards de dollars
• Classé 28e marque mondiale la plus précieuse par Interbrand
• Score de satisfaction du client de 73/100

AT&T Inc. (T) - Modèle d'entreprise: propositions de valeur

Couverture complète du sans fil et du haut débit à l'échelle nationale

AT&T fournit une couverture sans fil sur 68% de la zone géographique des États-Unis, avec une 5G + disponible sur 285 marchés au quatrième trimestre 2023. La couverture du réseau comprend:

Métrique du réseau	Statistique de la couverture
Couverture 4G LTE	68% de la population américaine
Couverture 5G	285 marchés à l'échelle nationale
Disponibilité de la fibre Internet	20,4 millions d'emplacements de clients

Solutions de communication et de divertissement intégrées

AT&T propose des forfaits de divertissement et de communication multiplateforme:

• Service de streaming HBO Max
• Options de satellite et de streaming DirectV
• Plans sans fil mobiles et fixes
• Internet et packages mobiles groupés

Connectivité réseau 5G à grande vitesse

Spécifications du réseau 5G:

Métrique de performance 5G	Spécifications techniques
Vitesse de 5 g moyenne	214 Mbps
Disponibilité des vagues de millimètre 5G	40 villes
Couverture 5G inférieure à 6 GHz	285 marchés

Services groupés combinant le mobile, Internet et les médias

Tarification et options du forfait de service:

Type de paquet	Fourchette de prix mensuelle	Services inclus
Plan d'élite illimité	85 $ / ligne	Données illimitées, HBO Max, Hotspot mobile
Fibre Internet + mobile	110 $ / mois	Fibre Gigabit, ligne mobile

Innovations technologiques axées sur l'entreprise et les consommateurs

Les solutions technologiques d'entreprise comprennent:

• Services informatiques 5G Edge
• Solutions de cybersécurité
• Plateformes de l'Internet des objets (IoT)
• Services de réseautage cloud

AT&T Inc. (T) - Modèle d'entreprise: relations avec les clients

Plates-formes de libre-service numériques

Application mobile AT&T MyAccount avec 43,2 millions d'utilisateurs actifs au quatrième trimestre 2023. Traitement de plate-forme en ligne 62% des interactions du service client. Les canaux en libre-service numériques gantant environ 78,5 millions de transactions client tous les mois.

Plate-forme numérique	Utilisateurs actifs mensuels	Volume de transaction
Application mobile AT&T MyAccount	43,2 millions	24,3 millions de transactions
Site Web AT&T	37,8 millions	38,2 millions de transactions

Canaux de support client 24/7

Infrastructure de support client avec 15 200 représentants de soutien dédié. Temps de réponse moyen de 3,2 minutes sur les canaux numériques. Support disponible via:

• Prise en charge du téléphone: 1-800 lignes
• Plateformes de chat en direct
• Service client sur les réseaux sociaux
• Assistance par e-mail

Plans de services personnalisés

AT&T propose 47 plans de services mobiles et sans fil différents. Algorithmes de personnalisation analysant 92,6 millions de points de données clients pour recommander des services sur mesure.

Catégorie de service	Nombre de plans	Taux de personnalisation
Plans mobiles	27	86%
Plans sans fil	20	79%

Programmes de fidélité

AT&T remercie le programme de fidélité avec 68,4 millions de membres actifs. Taux de rétention de la clientèle de 87,3% en 2023.

• Système de récompenses basé sur des points
• Remises exclusives
• Service client prioritaire

Ventes directes et engagement en ligne

Les canaux de vente directs générant 120,3 milliards de dollars de revenus annuels. Les mesures d'engagement en ligne montrant 62,7 millions d'interactions numériques mensuelles.

Canal de vente	Revenus annuels	Interactions du client
Ventes en ligne directes	48,6 milliards de dollars	37,4 millions
Magasins de détail	71,7 milliards de dollars	25,3 millions

AT&T Inc. (T) - Modèle d'entreprise: canaux

Magasins de détail et emplacements physiques

AT&T exploite 2 283 magasins de détail appartenant à des entreprises à travers les États-Unis au quatrième trimestre 2023. Ces emplacements génèrent environ 12,4 milliards de dollars de revenus de ventes de détail annuels.

Type de magasin	Nombre d'emplacements	Revenus annuels
Magasins appartenant à l'entreprise	2,283	12,4 milliards de dollars
Magasins d'entreprise AT&T	1,682	8,9 milliards de dollars
Magasins de vente au détail autorisés AT&T	3,500+	5,5 milliards de dollars

Site Web en ligne et applications mobiles

Les plates-formes numériques d'AT & T desservent 180 millions d'utilisateurs actifs mensuels. L'application mobile MYAT & T a été téléchargée 65,3 millions de fois avec une note d'utilisateur de 4,7 / 5.

• Site Web: www.att.com
• Téléchargements d'applications mobiles: 65,3 millions
• Utilisateurs numériques actifs mensuels: 180 millions
• Pourcentage de vente en ligne: 22% du total des revenus

Réseaux de concessionnaires autorisés

AT&T maintient plus de 3 500 emplacements de concessionnaires autorisés générant 5,5 milliards de dollars de revenus annuels. Ces détaillants indépendants représentent 35% des ventes de canaux de vente au détail d'AT & T.

Métriques du réseau de concessionnaires	Valeur
Total des concessionnaires autorisés	3,500+
Revenus annuels des concessionnaires	5,5 milliards de dollars
Pourcentage de ventes au détail	35%

Représentants des ventes directes

AT&T emploie 70 000 représentants des ventes directes dans les segments des entreprises et des consommateurs. Ces représentants génèrent 18,6 milliards de dollars de revenus de vente annuels.

• Représentants des ventes totales: 70 000
• Revenus de vente annuelle: 18,6 milliards de dollars
• Représentants du segment des entreprises: 22 000
• Représentants du segment des consommateurs: 48 000

Centres d'appels de service client

AT&T exploite 42 centres d'appels de service à la clientèle avec 15 000 représentants du support client. Ces centres gèrent 78 millions d'interactions client tous les mois.

Métriques du centre d'appel	Valeur
Centres d'appels totaux	42
Représentants du support client	15,000
Interactions mensuelles du client	78 millions

AT&T Inc. (T) - Modèle d'entreprise: segments de clientèle

Consommateurs mobiles et internautes

Au quatrième trimestre 2023, AT&T comptait 203,3 millions d'abonnés sans fil. La ventilation du segment des consommateurs comprend:

Segment	Nombre d'abonnés
Clients mobiles postpayés	64,3 millions
Clients mobiles prépayés	16,2 millions
Abonnés sur Internet en fibre	7,3 millions

Clients des télécommunications d'entreprise et d'entreprise

Les revenus du segment des entreprises en 2023 ont atteint 36,8 milliards de dollars.

• Fortune 500 entreprises: 90% sont des clients commerciaux AT&T
• Valeur du contrat moyen de l'entreprise: 2,4 millions de dollars par an
• Industries servies: technologie, finance, soins de santé, fabrication

Petites et moyennes entreprises

Statistiques du segment SMB pour 2023:

Catégorie	Valeur
Clients totaux PMB	2,1 millions
Revenu annuel du segment SMB	12,6 milliards de dollars
Dépenses mensuelles moyennes par PMB	$500

Organisations du gouvernement et du secteur public

Détails du segment du gouvernement:

• Contrats du gouvernement fédéral: 4,3 milliards de dollars en 2023
• Clients gouvernementaux et locaux: 47 États
• Revenus de services de cybersécurité du secteur public: 1,2 milliard de dollars

Clients internationaux d'entreprise

Performance internationale du segment des affaires:

Région	Revenus annuels
Amérique du Nord	22,7 milliards de dollars
l'Amérique latine	3,6 milliards de dollars
Europe	2,9 milliards de dollars

AT&T Inc. (T) - Modèle d'entreprise: Structure des coûts

Maintenance et expansion des infrastructures réseau

Dépenses en capital pour 2023: 21,3 milliards de dollars

Catégorie d'infrastructure	Coût annuel
Déploiement du réseau 5G	8,5 milliards de dollars
Extension du réseau de fibres	6,2 milliards de dollars
Entretien de la tour	3,1 milliards de dollars
Acquisition de spectre	3,5 milliards de dollars

Investissements de recherche et développement

Dépenses de R&D pour 2023: 1,9 milliard de dollars

• Recherche de l'intelligence artificielle: 450 millions de dollars
• Innovation de cybersécurité: 350 millions de dollars
• Développement de la technologie du réseau: 700 millions de dollars
• IoT et Edge Computing: 400 millions de dollars

Salaires et formation des employés

Compensation totale des employés pour 2023: 32,4 milliards de dollars

Catégorie des employés	Salaire annuel moyen
Employés techniques	$125,000
Représentants du service à la clientèle	$55,000
Postes de direction	$185,000
Formation et développement	650 millions de dollars

Coûts d'acquisition et de production de contenu

Total des dépenses de contenu pour 2023: 6,7 milliards de dollars

• HBO Max Contenu original: 2,3 milliards de dollars
• Droits de diffusion sportive: 1,9 milliard de dollars
• Programmation de nouvelles et de divertissements: 2,5 milliards de dollars

Frais de marketing et d'acquisition des clients

Budget marketing total pour 2023: 4,6 milliards de dollars

Canal de marketing	Dépenses annuelles
Marketing numérique	1,8 milliard de dollars
Publicité télévisée	1,2 milliard de dollars
Parrainages et événements	600 millions de dollars
Incitations à l'acquisition des clients	1 milliard de dollars

AT&T Inc. (T) - Modèle d'entreprise: Strots de revenus

Abonnements de services mobiles

AT&T a rapporté des revenus de service mobile de 44,3 milliards de dollars au quatrième trimestre 2023. Les revenus de service sans fil comprenaient:

Segment	Revenu
Mobilité des consommateurs	21,9 milliards de dollars
Mobilité commerciale	12,4 milliards de dollars
Fidèle	2,3 milliards de dollars

Services Internet à large bande

Les services Internet en fibre ont généré 8,2 milliards de dollars de revenus des consommateurs et des entreprises au T2 2023. La base des abonnés à large bande a atteint 16,4 millions de clients.

• Fibre de consommation Internet Revenu moyen par utilisateur: 65,47 $
• Fibre Business Internet Revenu moyen par utilisateur: 189,33 $

Solutions de télécommunications d'entreprise

Les revenus du segment des entreprises ont totalisé 13,6 milliards de dollars au quatrième trimestre 2023, notamment:

Catégorie de service	Revenu
Services réseau	6,7 milliards de dollars
Solutions de sécurité	2,1 milliards de dollars
Services cloud	4,8 milliards de dollars

Publicité et monétisation du contenu des médias

Revenus publicitaires de Warner Bros. Discovery: 2,9 milliards de dollars au quatrième trimestre 2023.

• Revenus publicitaires numériques: 1,4 milliard de dollars
• Publicité médiatique traditionnelle: 1,5 milliard de dollars

Ventes d'appareils et location d'équipement

Les revenus des ventes et de l'équipement des appareils ont atteint 7,6 milliards de dollars au quatrième trimestre 2023.

Catégorie d'appareil	Revenu
Ventes de smartphones	4,3 milliards de dollars
Ventes de tablettes	1,2 milliard de dollars
Location d'équipement	2,1 milliards de dollars

AT&T Inc. (T) - Canvas Business Model: Value Propositions

You're looking at the core promises AT&T Inc. (T) is making to the market as of late 2025. It's all about network superiority and customer lock-in through bundling. Let's break down the hard numbers behind these claims.

Fast, reliable, and secure connectivity via 5G and fiber

The foundation of AT&T Inc. (T)'s value proposition rests on its massive infrastructure buildout. They have hit a major milestone, passing 30 million fiber locations as of mid-2025, putting them halfway to their 2030 goal of 60 million fiber passings. This footprint is targeted to include approximately 25 million consumer locations and 5 million business locations by the end of 2025. The network performance is validated by industry recognition; Ookla awarded AT&T the Fastest Fixed Network for the final quarter of 2024. On the wireless side, the 5G network now reaches 290 million people across nearly 24,000 cities and towns, with mid-band 5G spectrum coverage expected to cover two-thirds of the U.S. population by mid-November 2025. This network investment shows up in the financials, with Consumer Wireline Revenue growing 5.1% year-over-year in Q2 2025.

Converged offerings: bundling wireless and fiber for lower churn and discounts

This strategy is about making it sticky for customers to use AT&T Inc. (T) for everything. The results show this is working: in Q3 2025, over 41% of AT&T Fiber households also subscribed to AT&T Mobility service. Management states these converged customers are the most valuable, exhibiting the lowest churn profile and highest lifetime values. While the company added 405,000 postpaid phone net additions in Q3 2025, the postpaid phone-only churn rate did tick up slightly to 0.92%, up 14 basis points year-over-year, suggesting aggressive pricing was needed to win volume. To drive this bundling, AT&T offers concrete discounts, such as 20% off AT&T Fiber when paired with an eligible unlimited wireless plan. Still, the pressure from promotions meant the Postpaid phone Average Revenue Per User (ARPU) fell 0.8% to $56.64 in Q3 2025.

AT&T Guarantee: a promise of reliable connectivity or a service credit

To build trust after past service issues, AT&T Inc. (T) launched the AT&T Guarantee on January 9, 2025. This isn't just a slogan; it has specific financial consequences for the company. For fiber customers, an outage lasting 20 minutes or more triggers an automatic bill credit equaling a full day of service. For wireless, the threshold is 60 minutes or more of downtime impacting 10 or more towers. Furthermore, they promise responsiveness: if your wait time for technical support exceeds five minutes and a callback isn't offered or received, you get a reward card. This commitment is backed by significant operational investment, with the company stating it invested more than $750 million in customer care operations related to this initiative.

High-speed fiber broadband with speeds up to 5 Gigabits per second

AT&T Inc. (T) is pushing the top end of consumer speed capabilities. Their fiber plans deliver symmetrical speeds up to 5,000Mbps, which is the 5 Gigabits per second tier. For the top-tier Internet 5000 plan, the single device wired speed maximum is reported at 4.7Gbps. The fastest speed seen across their network is 4,542 Mbps. The company is actively promoting these top tiers with offers; for example, the Internet 5000 plan can be had for as low as $90/mo for new residential customers after specific discounts.

Here's a look at the advertised residential fiber tiers:

Plan Name/Speed Tier	Max Download/Upload Speed (Mbps)	Symmetry	Key Feature/Discount Example
Internet 300	300	Symmetrical	New customers can get a $150 Visa Reward Card.
Internet 1000 (Gigabit)	1,000	Symmetrical	Price starts at $80/mo plus taxes before discounts.
Internet 2000 (2 Gig)	2,000	Symmetrical	Includes up to 5 AT&T Smart WiFi Extenders at no extra cost.
Internet 5000 (5 Gig)	5,000	Symmetrical	Wired speed max of 4.7Gbps for a single device.

Specialized, scalable solutions for nearly all Fortune 1000 companies

AT&T Inc. (T) targets the largest enterprises with its business solutions, which include Dedicated Internet Access, Ethernet, SD-WAN, and Cybersecurity services. The Fortune 1000 list itself represents a massive economic base, with those 1000 U.S. companies collectively generating $22 trillion in revenue in 2025, and a median revenue of $16.64 billion. While the company is focused on growing this segment, the Business Wireline segment revenue declined about 9% year-over-year in Q2 2025, driven by a 17.4% decline in legacy services. To counter this, AT&T is aggressively expanding its business fiber presence, aiming to pass 5 million business fiber locations by the end of 2025. A key specialized offering is FirstNet, the dedicated public safety network, which boasts approximately 6.4 million total connections.

You should watch the Business Wireline segment closely; the pivot to connectivity-based products is happening, but the legacy revenue decline is substantial. Finance: draft the Q4 2025 Business Wireline segment revenue vs. guidance comparison by next Tuesday.

AT&T Inc. (T) - Canvas Business Model: Customer Relationships

You're looking at how AT&T Inc. connects with and keeps its customers as of late 2025. The strategy is clearly about locking in high-value relationships, primarily through bundling their wireless and fiber assets. Honestly, the numbers from the third quarter of 2025 tell a compelling story about where the growth is coming from.

The success in acquiring high-quality wireless subscribers is directly tied to the push for convergence. AT&T Inc. reported 405,000 postpaid phone net adds for Q3 2025, which comfortably beat analyst estimates. This acquisition strategy is heavily promotional, leveraging discounted bundles combining 5G mobile and high-speed fiber plans to attract new, profitable customers.

The proactive retention effort via converged service bundles is a central pillar of the relationship strategy. Customers who bundle services show significantly better retention profiles and higher lifetime values, which is the whole point of the investment-led strategy. The pace of this bundling trend is accelerating:

• Convergence Rate (Fiber households also subscribing to Mobility): Reached 41.12% at the end of Q3 2025.
• This convergence rate was up 180 basis points from a year ago, representing one of the largest quarterly gains in the last three years.
• For fixed wireless, more than half of AT&T Internet Air subscribers also choose AT&T for their wireless service.

The results of this bundling drive are visible across the subscriber additions for the quarter:

Metric	Q3 2025 Net Adds	Context/Comparison
Wireless Postpaid Phone Net Adds	405,000	Comfortably ahead of consensus estimates.
AT&T Fiber Net Adds	288,000	Ahead of the Bloomberg consensus estimate of 273,747.
AT&T Internet Air Net Adds	270,000	Doubling subscriber gains year-over-year for this service.

For large enterprise customers, AT&T Business has been streamlining its engagement model. In mid-2025, the enterprise and mid-market organizations were unified under one executive, Melissa Arnoldi, to streamline go-to-market activity. This structure supports dedicated account management for these large, complex sales, where AT&T Communications serves nearly 3 million business customers, including almost all of the Fortune 1000.

The push for self-service digital tools is a response to broad consumer preference, aiming to simplify interactions. While AT&T Inc. specific adoption rates aren't public, the market trend shows that over 60% of US consumers prefer using digital self-service solutions for simple inquiries. Furthermore, 81% of customers want the brands they use to provide more self-service options to find answers on their own. This supports the broader strategic goal of focusing customer service on simplicity and transparency, moving away from complex telecom models.

The overall customer base context as of late 2025 shows the scale AT&T is managing:

• Total postpaid phone customers: Approximately 73 million.
• Total prepaid phone customers: Approximately 17 million.
• The company is focused on driving improved yield from existing customers through ARPU (Average Revenue Per User) increases and moving them to higher value plans.

Finance: draft 13-week cash view by Friday.

AT&T Inc. (T) - Canvas Business Model: Channels

You're looking at how AT&T Inc. gets its products and services into the hands of customers across the board, from individuals to massive corporations. It's a multi-pronged approach, blending physical presence with digital efficiency.

Company-owned retail stores and authorized dealer locations

The physical footprint remains a core channel for AT&T Inc. As of October 07, 2025, there are 5,862 AT&T locations across the United States. This network is designed for high-touch customer interactions, device sales, and service activation. To give you a sense of geographic concentration, Texas leads with 614 locations, representing about 10% of the total footprint, closely followed by California with 600 locations, also about 10%. Still, the total number of locations can vary slightly depending on the reporting date; for instance, a May 2025 report cited a total of 5,947 locations.

Metric	Value as of Late 2025	Context/Date
Total US Locations	5,862	October 07, 2025
Texas Locations	614	October 07, 2025
California Locations	600	October 07, 2025

Direct sales force for large enterprise and business customers

For the Business Wireline segment, which saw its revenue decline in FY 2024, the direct sales force targets large organizations needing complex solutions. In fiscal year 2024, the Business Service segment generated $18.06 billion in revenue, which accounted for 14.77% of the company's total revenue that year. This segment is crucial for selling integrated solutions, even as the Business Wireline EBITDA is expected to decline in the low double-digit range for the full year 2025.

Online sales channels and mobile apps for self-service and upgrades

Digital channels are key drivers for efficiency and customer lifecycle management. The mobile apps and online portals facilitate self-service for existing customers and device upgrades. The success of the convergence strategy shows the digital channel's pull: in Q3 CY2025, 41% of AT&T Fiber households also subscribed to AT&T wireless services, indicating strong digital bundling success. Furthermore, more than half of AT&T Internet Air subscribers also have AT&T wireless, a clear indicator of successful digital cross-selling.

• AT&T Fiber households with wireless convergence: 41% (Q3 2025).
• AT&T Internet Air subscribers with wireless service: Over half (Q3 2025).

Wholesale agreements for network access and fixed wireless (AT&T Internet Air)

Wholesale arrangements support network expansion and service delivery in specific markets. AT&T Internet Air, the fixed wireless access (FWA) service, is a significant growth vector, often leveraging the same core network infrastructure. In Q2 2025, AT&T Internet Air added 203,000 net customers, pushing the total subscriber base past one million net air subscribers. The company is also strategically expanding its fiber footprint, which includes leveraging partnerships like the Gigapower joint venture with BlackRock, and has agreed to acquire substantially all of Lumen's Mass Markets fiber business.

FWA Metric	Q1 2025	Q2 2025
Internet Air Net Adds	181,000	203,000
Total Internet Air Subscribers	803,000	Over 1 million

Third-party retailers for device and service sales

AT&T Inc. sells through third-party retail stores alongside its company-owned locations and agents. This channel helps extend reach for device and service sales, though specific 2025 sales volume data through this channel isn't explicitly broken out separately from overall sales. The company's 2023 Annual Report confirmed sales occur through agents and third-party retail stores, complementing the direct channels.

AT&T Inc. (T) - Canvas Business Model: Customer Segments

You're looking at the core groups AT&T Inc. is selling connectivity to right now, based on their latest reported operational snapshot from the third quarter of 2025. It's all about who is paying for the wireless and the fiber.

Individual Consumers: High-value postpaid wireless and fiber broadband subscribers

This is the bread and butter, where the convergence strategy is showing its teeth. The focus here is on locking in customers across both mobile and fixed lines. In the third quarter of 2025, AT&T Inc. added 405,000 net postpaid phone subscribers. That brings the total postpaid phone subscriber base up to 73.8 million subscribers altogether. The churn rate, which is how many people leave, for postpaid phone-only customers settled at 0.92% for the quarter. The average revenue per user (ARPU) for postpaid phone lines was $56.64 in Q3 2025.

On the wireline side, the premium fiber product is pulling in new users consistently. AT&T Fiber added 288,000 new customers in Q3 2025, pushing the total fiber subscriber count past 10 million, specifically reaching 10.1 million total fiber subscribers. This segment is driving significant revenue growth; consumer fiber broadband revenues hit $2.2 billion, marking a 16.8% year-over-year increase. The real win here is the cross-sell: over 41% of AT&T Fiber households also subscribe to AT&T Mobility services.

Small and Midsize Businesses: Seeking scalable wireless, fiber, and fixed wireless (Internet Air)

For the business side, the story is one of transition, with legacy services shrinking while fiber connectivity grows within the segment. The overall Business Wireline revenues saw a contraction, coming in at $4.248 billion in Q3 2025, which is a 7.8% year-over-year decline. The operating income for Business Wireline fell even harder, down 12.9% to $1.18 billion. However, the newer fiber and advanced connectivity services within this segment managed a 6.0% increase. You have to remember that this segment also uses Internet Air for locations not yet served by fiber.

Large Enterprises: Requiring secure, high-capacity network and managed services

Large enterprises fall under the Business Wireline umbrella, and the data shows they are moving away from older, less scalable services. The persistent decreases in legacy and transitional services are the primary driver for the segment's revenue drop. While specific enterprise revenue is not broken out, the overall Business Wireline revenue decline of 7.8% in Q3 2025 reflects this shift away from traditional contracts toward more modern, high-capacity solutions like dedicated fiber circuits.

Wholesale Customers: Other carriers and service providers utilizing AT&T's network infrastructure

Wholesale is less about direct consumer sales and more about infrastructure access. A key metric showing network utilization by other entities, like government or first responders, is the FirstNet connection additions. AT&T Inc. added 316,000 FirstNet connections in the third quarter of 2025. This shows the continued reliance on AT&T's network for mission-critical services.

Fixed Wireless Customers: Served by AT&T Internet Air in non-fiber areas

AT&T Internet Air, the fixed wireless access (FWA) offering, is crucial for capturing customers where fiber buildout is still pending. This segment saw strong adoption in Q3 2025, adding 270,000 net new customers. This product is key because, without it, the overall residential subscriber base would have shrunk; Internet Air additions helped offset losses in legacy copper services.

Here's a quick look at the Q3 2025 broadband additions:

Broadband Product	Net Additions (Q3 2025)	Revenue Growth (YoY)
AT&T Fiber	288,000	16.8%
AT&T Internet Air (FWA)	270,000	Not explicitly stated for Q3

The total consumer broadband revenue for the quarter was up 8.2%, driven by these two high-growth products.

Finance: draft 13-week cash view by Friday.

AT&T Inc. (T) - Canvas Business Model: Cost Structure

The Cost Structure for AT&T Inc. is heavily weighted toward capital-intensive network build-out and ongoing operational maintenance, reflecting its dual focus on 5G wireless and fiber expansion.

Capital Expenditures (CapEx) represent a massive, planned outlay. AT&T Inc. projects its full-year 2025 capital investment to be in the range of $22 billion to $22.5 billion. This significant spending is directed toward accelerating the deployment of its fiber network and maintaining its 5G infrastructure.

Network operating expenses are a constant drain, though some costs are being managed. For the third quarter of 2025, total Operating Expenses were reported at $24.17 billion. You see specific cost pressures in areas like the Consumer Wireline segment, where operating expenses rose year over year due to higher depreciation expense driven by fiber investment and higher network-related costs in the first quarter of 2025. Conversely, lower network access costs, including higher vendor settlements in 2025, provided some offset in that same quarter.

The cost of acquiring and retaining high-value subscribers is escalating due to market competition. AT&T Inc. is actively addressing rising customer acquisition costs by focusing on operational efficiencies. In the Mobility unit, operating costs increased in the third quarter of 2025, driven by higher expenses from selling more pricier phones and increased spending on marketing and promotions, such as lucrative trade-in offers for new handsets. Customer retention is a key cost driver, with postpaid phone churn rising to 0.92% in the third quarter of 2025.

Strategic asset acquisition is another major cost component. The company recently secured FCC approval in December 2025 for its deal to acquire wireless spectrum licenses from U.S. Cellular for $1.02 billion. This is a direct, large-scale investment in a key resource.

Servicing the company's substantial debt load is a non-negotiable, fixed cost. As of the first quarter of 2025, AT&T Inc.'s net debt stood at approximately $119.1 billion. The associated debt servicing cost, as reflected in the Interest Expense for the first quarter of 2025, was $1,658 million (or $1.658 billion).

Here is a summary of key cost-related financial figures from recent periods:

Cost Category/Metric	Latest Reported Amount/Range	Period/Context
Projected Full-Year Capital Investment	$22 billion to $22.5 billion	Fiscal Year 2025 Projection
Total Operating Expenses	$24.17 billion	Q3 2025
Interest Expense (Debt Servicing Cost)	$1,658 million	Q1 2025
Net Debt	$119.1 billion	As of Q1 2025
Spectrum License Acquisition Cost	$1.02 billion	U.S. Cellular Deal (Approved Dec 2025)
Postpaid Phone Churn	0.92%	Q3 2025

The primary cost drivers are:

• Network Build-Out: The $22 billion to $22.5 billion annual CapEx budget for 2025.
• Financing Costs: Interest expense on the $119.1 billion net debt position.
• Customer Acquisition: Increased spending on marketing and promotions for Mobility.
• Infrastructure Investment Impact: Higher depreciation expense tied to fiber deployment.
• Spectrum Outlay: Large, discrete costs like the $1.02 billion U.S. Cellular spectrum purchase.

Finance: draft 13-week cash view by Friday.

AT&T Inc. (T) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers driving AT&T Inc.'s top line as we head into the end of 2025. The revenue story is clearly segmented; it's not one monolithic growth rate across the board. It's a story of high-growth connectivity battling legacy decline, so you need to track the components.

Mobility Service Revenue remains the bedrock, and the guidance for the full year is holding steady at expected growth of 3% or better in 2025. That momentum is what you want to see. For the third quarter of 2025, Mobility service revenue hit $16.9 billion, showing a year-over-year increase of 2.3%. Honestly, the growth rate is slightly below the Q1 pace of 4.1%, but it's still positive.

The fiber build-out is paying off in the Consumer segment. Consumer Fiber Broadband Revenue is projected to surge in the mid-to-high teens for the full year 2025. In the third quarter of 2025, this revenue stream delivered $2.2 billion, which is a year-over-year jump of 16.8%. That's the kind of growth rate you see in a market-taking asset.

On the other side of the ledger, Business Wireline Revenue continues its secular decline. In the third quarter of 2025, this segment's revenue was down 7.8% compared to the prior year period. This pressure from migrating customers off legacy voice and data services is a consistent headwind.

We can track the hardware component, too. Equipment Revenue, which is the sales of mobile devices and other hardware, came in at $5.373 billion for the third quarter of 2025. This number fluctuates based on upgrade cycles and promotional timing, so it's less predictable than service revenue.

The Fixed Wireless Access (FWA) Revenue stream, represented by AT&T Internet Air subscribers, shows clear traction. In the third quarter of 2025 alone, AT&T Internet Air added 270,000 new subscribers. This is part of a larger trend where the total number of subscribers for AT&T's advanced broadband services, including Fiber and Internet Air, reached 550,000 new subscribers in Q3 2025.

Here's a quick look at the Q3 2025 segment performance that feeds these revenue streams:

Revenue Component	Q3 2025 Amount / Rate	Year-over-Year Change
Total Revenue	$30.7 billion	Up 1.6%
Mobility Service Revenue	$16.9 billion	Up 2.3%
Consumer Fiber Broadband Revenue	$2.2 billion	Up 16.8%
Business Wireline Revenue	N/A	Down 7.8%
Equipment Revenue	$5.373 billion	N/A
AT&T Internet Air Net Adds (FWA)	270,000	N/A

You can see the convergence strategy in the subscriber numbers, which directly impacts future service revenue. The company reported key subscriber metrics that feed these revenue buckets:

• Postpaid phone net additions: 405,000 in Q3 2025.
• AT&T Fiber net additions: 288,000 in Q3 2025.
• Postpaid phone churn: 0.92% in Q3 2025.
• Percentage of Fiber households also choosing Mobility: Over 41%.

Finance: draft 13-week cash view by Friday.