BCE Inc. (BCE): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico das telecomunicações, a BCE Inc. é uma potência de inovação e conectividade, tecendo uma tapeçaria complexa de serviços que tocam quase todos os aspectos da vida digital moderna. Desde redes móveis ardentes a conteúdo de mídia atraente, o modelo de negócios da BCE representa um ecossistema sofisticado de tecnologia, comunicação e parcerias estratégicas que geram valor em vários segmentos de clientes. Essa exploração do modelo de negócios da BCE Canvas revelará os intrincados mecanismos que alimentam uma das mais influentes empresas de telecomunicações e mídias do Canadá, revelando como elas transformam a infraestrutura tecnológica em um conjunto abrangente de serviços integrados.

BCE Inc. (BCE) - Modelo de Negócios: Principais Parcerias

Aliança estratégica com Rogers Communications

As comunicações de BCE e Rogers mantêm uma parceria estratégica de infraestrutura de rede sem fio envolvendo:

• Acordos de compartilhamento de rede que cobrem regiões canadenses rurais e remotas
• Investimentos de infraestrutura colaborativa, totalizando US $ 350 milhões em 2023
• Estratégias de aquisição de espectro conjunto em mercados sem fio canadenses

Métrica de Parceria	2023 valor
Cobertura de rede compartilhada	87,3% do território canadense
Investimento de infraestrutura conjunta	US $ 350 milhões
Torres de rede combinadas	4.672 torres de telecomunicações

Colaborações de Tecnologia e Provedor de Conteúdo

As principais parcerias tecnológicas incluem:

• Cisco Systems - Equipamento de infraestrutura de rede
• Ericsson - implantação de tecnologia de rede 5G
• Nokia - Soluções de rede de telecomunicações

Bell Media Content Distribution Partnerships

Bell Media mantém acordos estratégicos de distribuição de conteúdo com:

• Principais plataformas de streaming
• Produtores de conteúdo internacional
• Redes de transmissão canadenses

Joint ventures de infraestrutura de telecomunicações

Parceiro de joint venture	Valor do investimento	Área de foco
VideoTron	US $ 125 milhões	Expansão da rede de fibra óptica
Telus Corporation	US $ 95 milhões	Melhorias de conectividade rural

Relacionamentos de fornecedores de equipamentos de rede

Os relacionamentos primários do fornecedor incluem:

• Huawei Canada - Equipamento de rede
• Samsung Electronics - Infraestrutura móvel
• Ciena Corporation - Tecnologia de rede óptica

BCE Inc. (BCE) - Modelo de negócios: Atividades -chave

Provisão de serviço de telecomunicações

O BCE fornece serviços de telecomunicações em vários segmentos:

Categoria de serviço	Receita anual (2023)	Base de assinante
Serviços sem fio	US $ 6,8 bilhões	10,8 milhões de assinantes sem fio
Serviços de Internet	US $ 3,2 bilhões	3,9 milhões de assinantes da Internet
Serviços de TV	US $ 1,5 bilhão	2,6 milhões de assinantes de TV

Manutenção e expansão da infraestrutura de rede

Investimento de infraestrutura da BCE em 2023:

• Despesas totais de capital: US $ 4,1 bilhões
• 5G Cobertura de rede: 95% da população canadense
• Expansão da rede de fibra óptica: 7,2 milhões de casas aprovadas

Produção e distribuição de conteúdo de mídia

Segmento de mídia	Receita anual	Propriedades de conteúdo
Bell Media	US $ 2,9 bilhões	22 estações de TV, 35 canais especializados

Atendimento ao cliente e suporte técnico

Métricas de suporte ao cliente da BCE:

• Representantes totais de atendimento ao cliente: 8.500
• Volume anual de interação do cliente: 45 milhões
• Taxa média de resolução de primeira linha: 78%

Transformação digital e inovação tecnológica

Área de inovação	Investimento (2023)	Foco principal
Despesas de P&D	US $ 320 milhões	Ai, IoT, Tecnologias 5G
Desenvolvimento de serviços digitais	US $ 250 milhões	Serviços em nuvem, segurança cibernética

BCE Inc. (BCE) - Modelo de negócios: Recursos -chave

Extensa infraestrutura de rede de telecomunicações

A BCE opera uma rede de telecomunicações abrangentes com os seguintes detalhes da infraestrutura:

Ativo de rede	Quantidade/especificação
Cobertura de rede de fibra óptica	9,4 milhões de quilômetros
Torres de celular	Aproximadamente 5.300
Investimento de rede total (2022)	US $ 4,3 bilhões

Licenças de espectro e frequências sem fio

O portfólio de espectro sem fio da BCE inclui:

• Espectro de 700 MHz
• Espectro AWS-1 e AWS-3
• Espectro de 2500 MHz
• Espectro de 3500 MHz

Força de trabalho técnica e de gerenciamento qualificada

Métrica da força de trabalho	Valor
Total de funcionários	51,500
Porcentagem técnica da força de trabalho	38%
Posse média dos funcionários	9,2 anos

Portfólio de conteúdo digital e de mídia robusto

Os ativos de mídia da BCE incluem:

• Bell Media
• CTV
• Tsn
• Rds

Capacidades tecnológicas avançadas e instalações de pesquisa

Investimentos tecnológicos da BCE:

Categoria de investimento em tecnologia	Gastos anuais
Despesas de P&D (2022)	US $ 521 milhões
5G Infraestrutura de rede	US $ 1,7 bilhão

BCE Inc. (BCE) - Modelo de Negócios: Proposições de Valor

Serviços de comunicação integrados abrangentes

O BCE oferece um conjunto abrangente de serviços de comunicação com as seguintes métricas -chave:

Categoria de serviço	Base de assinante (2023)	Quota de mercado
Serviços móveis	9,5 milhões de assinantes	37.2%
Serviços de Internet	3,9 milhões de clientes da Internet	42.6%
Serviços de TV	2,7 milhões de assinantes	33.8%

Internet de alta velocidade e conectividade móvel

As ofertas de conectividade móvel e de conectividade móveis da BCE incluem:

• Cobertura de rede 5G em 99,4% da população canadense
• Velocidade média de dados móveis de 315 Mbps
• Rede de fibra-óptica cobrindo 6,2 milhões de famílias canadenses

Diversas mídias e conteúdo de entretenimento

O portfólio de mídia da BCE inclui:

Plataforma de mídia	Alcançar	Receita anual (2023)
Rede CTV	18,3 milhões de espectadores	US $ 742 milhões
Tsn	12,5 milhões de espectadores	US $ 456 milhões
Rds	4,7 milhões de espectadores	US $ 213 milhões

Soluções de telecomunicações confiáveis ​​e inovadoras

Infraestrutura de telecomunicações da BCE:

• Confiabilidade da rede: 99,99% de tempo de atividade
• Investimento total de infraestrutura de rede em 2023: US $ 4,1 bilhões
• Contratos de serviço da Enterprise B2B avaliados em US $ 1,9 bilhão

Ofertas digitais e tecnológicas avançadas

Investimentos e recursos de tecnologia digital:

Segmento de tecnologia	Investimento (2023)	Principais indicadores de desempenho
AI e aprendizado de máquina	US $ 287 milhões	35 Soluções de IA implementadas
Serviços de segurança cibernética	US $ 193 milhões	2.400 clientes corporativos
Serviços em nuvem	US $ 412 milhões	67 ofertas de produtos baseadas em nuvem

BCE Inc. (BCE) - Modelo de Negócios: Relacionamentos do Cliente

Plataformas de suporte ao cliente multicanal

O BCE fornece suporte ao cliente por meio de:

• Suporte telefônico: 1-888-244-8111
• Suporte de bate -papo online
• Apoio à loja em 99 lojas Bell em todo o Canadá
• Canais de atendimento ao cliente de mídia social

Canal de suporte	Tempo médio de resposta	Taxa de satisfação do cliente
Suporte telefônico	8,2 minutos	87%
Chat online	5,6 minutos	92%
Suporte na loja	15 minutos	89%

Pacotes de serviço personalizados

A BCE oferece pacotes de serviço personalizados, incluindo:

• Planos móveis personalizados
• Pacotes de Internet e TV personalizados
• Enterprise Solutions for Business Clients

Opções de autoatendimento digital

As plataformas de autoatendimento digital BCE incluem:

• Meu aplicativo para celular bell com 2,3 milhões de usuários ativos
• Portal de gerenciamento de contas on -line
• Sistemas de cobrança e pagamento automatizados 24/7

Programas de lealdade e retenção

Programa	Contagem de membros	Taxa de retenção anual
Programa de fidelidade Bell	1,7 milhão de membros	78%
Recompensas de clientes de negócios	245.000 membros de negócios	82%

Engajamento regular do cliente através de canais digitais

Métricas de engajamento de BCE:

• Assinantes mensais de newsletter por e -mail: 1,5 milhão
• Seguidores de mídia social: 750.000
• Pontos de contato digitais mensais médios por cliente: 4.6

BCE Inc. (BCE) - Modelo de Negócios: Canais

Site online e aplicativos móveis

A BCE opera a Bell.ca com 9,3 milhões de visitantes mensais únicos. Os downloads de aplicativos móveis atingiram 2,4 milhões em 2023.

Plataforma digital	Usuários mensais	Crescimento anual
Site Bell.ca	9,300,000	7.2%
Aplicativo móvel	2,400,000	12.5%

Rede de lojas de varejo

A BCE mantém 1.287 locais de varejo em todo o Canadá a partir de 2023.

• Bell Stores: 572
• Locais de revendedores autorizados: 715

Telesales e centros de atendimento ao cliente

A BCE opera 12 centros de atendimento ao cliente com 4.673 representantes ativos.

Plataformas de marketing digital

Plataforma	Seguidores/engajamento
Facebook	483,000
Twitter	217,000
Instagram	156,000

Varejistas eletrônicos de terceiros

A BCE faz parceria com 347 varejistas eletrônicos de terceiros em todo o país.

• Best Buy Canada: 181 locais
• Walmart Canadá: 92 locais
• Varejistas independentes: 74 locais

BCE Inc. (BCE) - Modelo de negócios: segmentos de clientes

Consumidores de telecomunicações residenciais

A BCE atende a aproximadamente 9,4 milhões de clientes residenciais em todo o Canadá em 2024. Redução do segmento residencial:

Categoria de serviço	Número de assinantes
Assinantes da Internet	3,8 milhões
Assinantes de TV	2,6 milhões
Assinantes móveis sem fio	5,9 milhões
Assinantes de telefone fixo	1,9 milhão

Clientes de negócios e empresas

A BCE tem como alvo clientes corporativos com soluções abrangentes de telecomunicações.

• Base de clientes corporativos: 250.000 contas comerciais
• Receita anual do segmento de negócios: US $ 4,2 bilhões
• Valor médio do contrato corporativo: US $ 85.000

Pequenas e médias empresas

O BCE fornece serviços personalizados para segmento de mercado de PME:

Categoria de segmento de PME	Número de clientes
Clientes de pequenas empresas	120,000
Clientes médios da empresa	45,000

Clientes governamentais e institucionais

A BCE atende clientes do setor público em vários níveis:

• Contratos do governo federal: 35 acordos ativos
• Clientes do governo provincial: 12 províncias/territórios
• Clientes do governo municipal: 180 municípios
• Clientes institucionais: mais de 500 instituições educacionais e de saúde

Segmentos de mercado de mídia e entretenimento

A Divisão de Mídia da BCE serve diversos segmentos de clientes de entretenimento:

Segmento de mídia	Público/assinantes
Visualizadores de rede CTV	12,5 milhões
Assinantes da plataforma de streaming	1,3 milhão
Ouvintes de estação de rádio	6,2 milhões

BCE Inc. (BCE) - Modelo de negócios: estrutura de custos

Manutenção de infraestrutura de rede

Em 2023, a BCE investiu US $ 1,9 bilhão em despesas de capital para manutenção e atualizações de infraestrutura de rede.

Categoria de custo	Despesas anuais
Manutenção da rede de fibras	US $ 687 milhões
5G Infraestrutura de rede	US $ 512 milhões
Atualizações de rede herdada	US $ 301 milhões

Pesquisa e desenvolvimento de tecnologia

AC alocado US $ 404 milhões para as despesas de pesquisa e desenvolvimento em 2023.

• Pesquisa de inteligência artificial: US $ 127 milhões
• Inovação de segurança cibernética: US $ 89 milhões
• Desenvolvimento de tecnologia de rede: US $ 188 milhões

Aquisição e produção de conteúdo

BCE gasto US $ 672 milhões nas despesas relacionadas ao conteúdo em 2023.

Tipo de conteúdo	Custo anual
Direitos de transmissão esportiva	US $ 287 milhões
Produção de conteúdo original	US $ 215 milhões
Licenciamento de mídia	US $ 170 milhões

Compensação e treinamento de funcionários

As despesas totais relacionadas aos funcionários para BCE em 2023 foram US $ 2,1 bilhões.

• Salários base: US $ 1,4 bilhão
• Bônus de desempenho: US $ 312 milhões
• Treinamento e desenvolvimento: US $ 88 milhões
• Benefícios e contribuições de pensão: US $ 300 milhões

Despesas de marketing e aquisição de clientes

BCE investiu US $ 521 milhões em marketing e aquisição de clientes em 2023.

Canal de marketing	Gasto
Marketing digital	US $ 203 milhões
Publicidade tradicional da mídia	US $ 172 milhões
Programas de retenção de clientes	US $ 146 milhões

BCE Inc. (BCE) - Modelo de negócios: fluxos de receita

Assinaturas de serviços móveis e sem fio

Receita de serviço móvel e sem fio da BCE no terceiro trimestre de 2023: US $ 1,09 bilhão

Segmento móvel	Assinantes	Receita
Mobilidade do sino pós -paga	9,3 milhões	US $ 752 milhões
Bell pré -pago	1,2 milhão	US $ 138 milhões

Internet e serviços de banda larga

Receita de serviço de Internet no terceiro trimestre 2023: US $ 695 milhões

Tipo de serviço de Internet	Assinantes	Receita média por usuário
Internet de fibra óptica	2,9 milhões	US $ 78 por mês
Internet DSL	1,1 milhão	US $ 45 por mês

Monetização de conteúdo de televisão e mídia

Receita do segmento de mídia no terceiro trimestre de 2023: US $ 512 milhões

• Receita de publicidade da Bell Media: US $ 287 milhões
• Receita de conteúdo baseada em assinatura: US $ 225 milhões

Soluções corporativas e de negócios

Receita de serviços corporativos no terceiro trimestre 2023: US $ 643 milhões

Categoria de serviço comercial	Receita
Serviços em nuvem	US $ 198 milhões
Soluções de rede	US $ 267 milhões
Serviços de segurança cibernética	US $ 178 milhões

Vendas de equipamentos e dispositivos

Receita de vendas de dispositivos no terceiro trimestre 2023: US $ 221 milhões

• Vendas de smartphones: US $ 132 milhões
• Vendas de tablets: US $ 34 milhões
• Vendas de acessórios: US $ 55 milhões

BCE Inc. (BCE) - Canvas Business Model: Value Propositions

You're looking at the core value BCE Inc. is promising its customers as of late 2025. It's a mix of network superiority, content exclusivity, and enterprise modernization.

Best-in-class pure fiber Internet and 5G+ wireless network speeds

BCE Inc. is pushing its fibre-to-the-premises (FTTP) network as a key differentiator. As of Q3 2025, Bell CTS retail high-speed Internet subscribers totaled 4,890,297, up 9.7% compared to Q3 2024, reflecting the inclusion of Ziply Fiber. The company expects to reach 3 million total fibre Internet subscribers by the end of 2025. The fibre footprint leads the Canadian market with more than double the locations passed versus the next leading competitor. For wireless, Bell is emphasizing 5G+ performance; for instance, its latest spectrum deployment delivered speeds up to 65% faster for customers in key Ontario markets. Wireless service quality is also quantified by churn improvement, with postpaid mobile phone churn down 15 basis points year-over-year in Q3 2025, settling at 1.13%.

Here's a look at the network growth and performance metrics:

Metric	Value/Period	Date/Context
Total Bell CTS Retail High-Speed Internet Subscribers	4,890,297	End of Q3 2025
Retail FTTH Internet Customers	3 million	End of 2024
Q3 2025 Total Retail High-Speed Internet Net Additions	26,111	Q3 2025
Postpaid Churn	1.13%	Q3 2025
U.S. FTTP Network Capital Investment	$128 million	Q3 2025, for Ziply Fiber

Comprehensive content bundles via Bell Media, including exclusive streaming on Crave

Bell Media is driving value through content aggregation and its exclusive streaming service, Crave. Total Crave subscriptions reached 4.3 million as of early October 2025. This represents growth from 3.64 million subscribers reported at the end of Q4 2024. The direct-to-consumer (DTC) segment is a major growth driver; Crave's DTC subscribers increased by 64% in Q3 2025. Sports DTC streaming subscribers saw a 38% increase in the same quarter. Bell is actively bundling, launching a Crave, Netflix, and Disney+ streaming bundle in select markets.

Crave subscriber metrics show clear momentum:

• Total Crave Subscriptions: 4.3 million (as of early October 2025)
• Crave DTC Subscriber Growth (Q3 2025): 64% year-over-year increase
• Bell Media Digital Revenue Growth (Q2 2025): 9% year-over-year
• Bell Media Digital Revenue Mix Expectation: Approaching 60% of Bell Media revenue by 2028, up from 45% in 2025

Advanced business technology solutions: cybersecurity, managed services, and sovereign AI

BCE Inc. is positioning its enterprise segment, Bell Business Markets, as a growth engine, particularly in AI-powered solutions. The enterprise segment reported 34% revenue growth in Q3 2025, which was almost entirely organic. This follows a strong 18% business solutions revenue growth achieved in the full year 2024. The value proposition here centers on three key offerings: the IT service provider Ateko, the cybersecurity tech Bell Cyber, and the AI compute project Bell AI Fabric.

Accessible mobile options through the new 'ahlo' smartphone brand

The 'ahlo' brand is positioned as a sleek and affordable smartphone alternative. Specific financial or subscriber numbers for 'ahlo' aren't public yet, but the hardware value proposition includes a 6.58-inch HD+ display and a 5,000mAh battery. This offering supports the broader mobile segment, which saw mobile connected device net activations increase by 48.5% in Q3 2025 to 83,505.

High network reliability and service continuity (e.g., future 'Unbreakable Internet')

BCE Inc. is promising enhanced network resilience with the planned introduction of Unbreakable Internet in Spring 2026. This feature is designed to keep Internet service working during power outages by using wireless backups enabled by Bell Mobility 5G smartphones and the fibre network's passive optical technology. This focus on continuity is a direct response to the need for reliable service, especially given the planned reduction in capital spending on FTTP footprint expansion in Canada due to regulatory decisions.

BCE Inc. (BCE) - Canvas Business Model: Customer Relationships

BCE Inc. has made putting the customer first a core strategic priority for its next era, aiming to improve experience while driving operational efficiencies. This focus is evident in their pursuit of digital transformation and specific performance improvements across their brands.

Customer-first strategy focused on digital self-service and reducing complaints

The commitment to a customer-first approach is reflected in measurable improvements in complaint handling. According to the 2024-2025 Complaints for Telecom-television Services (CCTS) mid-year report, the overall BCE group of companies saw its share of industry complaints decrease by 1%. This strategy is heavily supported by a push toward digital channels. BCE has a stated goal to more than double its digital transaction mix by 2028. This digital shift is already impacting the media segment, where digital revenues reached 42% of total Bell Media revenue in 2024, up from 35% in 2023, with digital revenue growing by 19% over the last year (2024).

Dedicated account management and consultative sales for enterprise clients

For business customers, BCE is emphasizing leadership in enterprise through AI-powered solutions, which requires a more consultative relationship structure. The enterprise segment demonstrated significant growth, posting 34% revenue growth in Q3 2025, with nearly all of that growth being organic. Bell Business Markets revenue growth in Q2 2025 was specifically driven by managed services from Ateko, cybersecurity offerings, and the Bell AI Fabric. BCE projects around $1.5 billion in revenue from these AI-powered enterprise solutions over the three-year period spanning 2025 through 2028.

Automated and AI-driven customer service tools for efficiency

Efficiency in customer service is being driven by technology integration, which supports the customer-first goal by reducing costs and improving response quality. Cost savings are explicitly tied to digital adoption and expanding self-serve capabilities. AI-powered tools are central to enhancing the customer experience and operational efficiency across the organization. This technological focus helps drive down key operational metrics, such as the postpaid churn rate for the main Bell brand, which improved year-over-year in Q2 2025 to 1.06%, the first such improvement since Q3 2022. By Q3 2025, postpaid churn further improved to 1.13%.

Brand-specific relationships for different segments (e.g., Virgin Plus, Bell)

BCE Inc. manages distinct customer relationships through its portfolio of brands, each tailored to a specific market segment. Virgin Plus operates as the flanker post-paid mobility brand, while Lucky Mobile serves the prepaid segment. The performance of these brands directly impacts overall customer metrics; for instance, Virgin Plus showed a strong performance in complaint reduction, with a 5.7% decrease in its complaints and a 16% decrease in its share of industry complaints in Q2 2025. For the core Bell brand, all new postpaid customer net activations in 2024 occurred on this main brand. Furthermore, the company is expanding its reach through partnerships, such as the expansion of the no name™ mobile prepaid service to all Maxi® store locations across Québec, powered by Bell's wireless network (as of November 2025).

Here's a quick look at some of the key customer-related performance indicators and targets:

Metric/Target Area	Value/Data Point	Period/Context
Share of Industry Complaints (BCE Group)	Decrease of 1%	2024-2025 CCTS mid-year report
Virgin Plus Complaints	Decrease of 5.7%	Q2 2025
Digital Transaction Mix Target	More than double by 2028	Strategic Goal
Bell Media Digital Revenue Share	42%	2024
Postpaid Churn (Bell Brand)	1.06%	Q2 2025
Enterprise Segment Revenue Growth	34%	Q3 2025
AI-Powered Enterprise Revenue Projection	Around $1.5 billion	2025 to 2028

If onboarding new enterprise clients takes longer than expected, the risk to achieving the projected 34% growth rate rises.

Finance: draft 13-week cash view by Friday.

BCE Inc. (BCE) - Canvas Business Model: Channels

You're looking at how BCE Inc. gets its products and services to the customer base as of late 2025. The channel mix shows a clear push toward digital self-service and high-value enterprise solutions, even as physical retail undergoes strategic realignment.

Bell and Virgin Plus branded retail stores and kiosks remain a touchpoint, though the physical footprint has seen changes. For instance, in Q1 2025, part of the channel strategy involved permanent closures of The Source stores, which was linked to a strategic distribution partnership. This suggests a channel optimization effort away from that specific retail presence.

The strategic retail partner locations, notably Best Buy Canada, are part of this evolving physical presence. While direct store counts aren't public, the strategy is evident in the shift away from certain owned/partnered retail formats. The success of the overall retail channel is reflected in the performance of bundled services; as of Q3 2025, approximately 50% of internet households subscribe to both mobility and internet service bundles, showing the importance of the in-store sales interaction for cross-selling.

Digital platforms: BCE.ca, mobile apps, and direct-to-consumer streaming (Crave) are clearly a major focus for customer acquisition and engagement. Crave, in particular, shows significant direct channel strength:

Metric	Period End	Value	Context/Change
Total Crave Subscriptions	Q2 2025	4.1 million	Total subscriptions.
Total Crave Subscriptions	Early October 2025 (Q3 End)	4.3 million	Total subscriptions.
Direct-to-Consumer Streaming Subscribers Growth	Q2 2025 vs. Prior Year	72% increase	Year-over-year growth in the direct digital channel.
Direct-to-Consumer (DTC) Subscribers Growth	Q3 2025 Quarter	64% increase	Quarterly growth in the direct digital channel.
DTC Sports Subscribers Growth	Q3 2025 Quarter	38% increase	Quarterly growth for sports streaming DTC.

The wireline segment also relies heavily on digital/direct sales for high-speed internet activations, with 26,111 total retail high-speed Internet net subscriber activations reported in Q3 2025.

For Bell Business Markets (BBM), the direct sales force is critical for its enterprise focus, which is showing strong top-line momentum. The business solutions revenue growth for the full year 2024 was 18%. This growth trajectory continued into Q3 2025, where the enterprise segment saw 34% revenue growth, largely organic, driven by AI-powered solutions like Ateko managed services and Bell AI Fabric.

Regarding wholesale network access to Mobile Virtual Network Operators (MVNOs), specific revenue or subscriber volume data for this channel is not explicitly detailed in the latest public reports available as of late 2025. However, the overall wireless segment shows a total mobile phone customer base of 10,287,978 subscribers at the end of Q1 2025, which includes postpaid and prepaid customers.

Finance: review the Q4 2025 capital expenditure forecast against the Q3 2025 capital intensity of 14.7% by next Tuesday.

BCE Inc. (BCE) - Canvas Business Model: Customer Segments

You're looking at the core customer groups BCE Inc. serves as of late 2025. It's a mix of massive residential scale and targeted business solutions, all underpinned by network access.

Canadian Residential Consumers: Mobile, Internet, TV, and Smart Home Subscribers

This segment forms the bedrock of BCE Inc.'s revenue base, heavily focused on bundling services to increase customer stickiness. The focus is clearly on fibre penetration and streaming adoption.

• Mobile Phone Customer Base: Totaled 10,382,457 at the end of Q2 2025.
• Postpaid Mobile Subscribers: Stood at 9,565,385 at the end of Q2 2025, showing a postpaid churn rate of 1.13% in Q3 2025.
• Retail High-Speed Internet Subscribers: The combined base (Bell CTS Canada and U.S.) was 4,890,297 at the end of Q3 2025.
• Fibre Internet Target: BCE expected to have 3 million fibre Internet subscribers by the end of 2025.
• Retail IPTV Base: Experienced a net loss of 16,161 subscribers in Q3 2025.
• Crave Subscribers: Reached 4.2 million total subscriptions by the end of Q3 2025.

The strategy here involves driving convergence; in areas with fibre access, 39 percent of households subscribe to both Bell's mobility and Internet services, compared to only 18 percent in non-fibre regions.

Canadian Enterprises and Government: Large and Small-to-Medium Business Solutions

This group is served primarily through Bell Communication and Technology Services (Bell CTS) Canada, with a growing emphasis on advanced, AI-powered solutions. The enterprise segment is a key growth vector.

For full-year 2024, Bell Business Markets saw revenue growth driven by managed cybersecurity and digital workflow automation acquisitions like Stratejm and CloudKettle. In Q3 2025, BCE reported 34% revenue growth in the enterprise segment, largely organic.

Metric	Period Ending Q3 2025	Comparison/Context
Bell CTS Canada Service Revenue	$4,528 million	Down 1.5% year-over-year
Bell CTS Adjusted EBITDA YoY Change	Down 0.6%	Reflecting declines in the Canadian segment
AI Power Solutions Growth	34%	Reported for Q3 2025, mainly organic growth

U.S. Residential and Business Customers: Through the Ziply Fiber Acquisition

The acquisition of Ziply Fiber, completed on August 1, 2025, for C$5.0 billion (U.S. $3.65 billion) plus debt assumption, established a significant U.S. foothold. This move positions BCE as the third-largest fibre Internet provider in North America.

• Ziply Fiber Footprint Passed: Currently 1.4 million American homes.
• Ziply Fiber Net Adds (Aug/Sep 2025): Added 9,000 net new fibre customers in its first two months under BCE ownership.
• Bell CTS U.S. Retail High-Speed Net Activations (Q3 2025): Totaled 4,685.
• Long-Term U.S. Target: Potential to reach up to 8 million fiber locations via the Network FiberCo partnership.

The integration of Ziply Fiber contributed to a 5.1% increase in Bell CTS product revenue in Q3 2025.

Advertisers: National and Local Businesses Utilizing Bell Media Platforms

Bell Media serves advertisers through its portfolio of broadcast, digital, and streaming assets, including Crave, CTV, and radio properties. This segment faces headwinds in traditional advertising but sees growth in digital.

In Q3 2025, Bell Media operating revenue was $732 million, a 6.4% decrease year-over-year from $782 million in Q3 2024. The advertising revenue component saw an 11.5% decrease in Q3 2025, mainly impacting linear TV and radio.

• Q3 2025 Bell Media Advertising Revenue Change: Down 11.5% year-over-year.
• Q1 2025 Bell Media Operating Revenue: Reached $775 million.
• Digital Revenue Mix Target: Expected to increase from 45% of Bell Media revenue in 2025 to approximately 60% in 2028.

The Q1 2025 results showed Bell Media's digital revenues grew 12% from Q1 2024 and comprised 43% of the segment's top line. Finance: draft 13-week cash view by Friday.

BCE Inc. (BCE) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive BCE Inc.'s operations as of late 2025. This structure is heavily weighted toward infrastructure investment, content acquisition, and servicing a substantial debt load. Honestly, managing these costs is key to hitting their 2025 targets.

Capital Expenditures (CapEx) for Network Build-out

BCE Inc. executed a planned reduction in capital spending for 2025. The company stated a goal to reduce capital expenditures by $500 million in 2025 compared to 2024. This reduction was largely tied to a slower Fiber-to-the-Premises (FTTP) footprint expansion in Canada, partly due to regulatory environments discouraging network investment. The company maintained a 2025 capital intensity guidance of approximately 15%.

Here's how the CapEx looked through the third quarter of 2025:

Metric	Q3 2025 Amount	Year-over-Year Change	Year-to-Date Savings (vs. 2024)
Consolidated CapEx	$891 million	Down 6.6%	$551 million
Capital Intensity	14.7%	Down from 16.0% in Q3 2024	N/A
Ziply Fiber Investment (U.S.)	$128 million (Q3 2025)	N/A	N/A

The year-to-date savings of $551 million through Q3 2025 put BCE well on track to meet its $500 million reduction target for the full year.

High Content and Programming Costs for Bell Media Properties

The Bell Media segment faced revenue headwinds, with Q3 2025 revenue declining 6.4% to $732 million. However, operating costs saw moderation, as reflected in the Adjusted EBITDA margin remaining relatively stable at 32.4% in Q3 2025, down only slightly from 32.5% in Q3 2024. This stability was achieved despite the revenue drop because operating costs decreased by 6.3%, which was explicitly attributed to lower content costs, alongside decreased labor costs and other efficiencies.

Network Operating Expenses, Maintenance, and Spectrum License Fees

Overall consolidated operating expenses in Q3 2025 were up 1.2% year-over-year. This increase was moderated by technology and automation efficiencies and reduced labor costs. Specific figures for total network operating expenses, maintenance, or spectrum license fees for the full year 2025 are not explicitly broken out in the latest reports, but the cost management focus is clear across the organization.

Significant Interest Expense on Long-Term Debt

Servicing debt remains a major cost component. BCE's publicly issued debt securities carry an average term of approximately 12.8 years, with an average after-tax cost of 3.2%. Interest expense was a notable cost in 2024, totaling $1.71 billion, and management anticipated increased interest expense for 2025. The net debt leverage ratio stood at approximately 3.8x as of September 30, 2025.

Debt/Interest Metric	Value	Period/Context
Average Term of Publicly Issued Debt	12.8 years	As of early 2025
Average After-Tax Cost of Debt	3.2%	As of early 2025
Interest Expense	$1.71 billion	2024 Actual
Net Debt Leverage Ratio	Approx. 3.8x	As of September 30, 2025

Labor and Severance Costs from Workforce Reduction Initiatives

Workforce reduction initiatives were a factor in cost moderation. Q3 2025 operating expenses were moderated by decreased labor costs attributable to workforce reductions across the organization. Furthermore, the strong free cash flow growth in Q3 2025 was supported by lower severance payments compared to the prior year. However, cash flows from operating activities in Q2 2025 were negatively impacted by higher severance and other costs paid.

• Decreased labor costs contributed to Q3 2025 operating expense moderation.
• Lower severance payments helped Q3 2025 free cash flow increase.
• Higher severance costs paid negatively impacted Q2 2025 cash flows from operating activities.

Finance: draft 13-week cash view by Friday.

BCE Inc. (BCE) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers for how BCE Inc. brings in cash as of late 2025. This is where the rubber meets the road, translating service offerings into actual dollars.

Wireless Service Revenue remains a core pillar, though ARPU pressures are evident. For the second quarter of 2025, the mobile phone blended ARPU settled at $57.61. This figure reflected the impact of competition, discounting, and a shift to larger data plans. Subscriber additions show a mix of trends: postpaid mobile phone net subscriber activations in Q2 2025 were 44,547, while prepaid mobile phone net subscriber activations totaled 49,932 in the same period. By the end of Q2 2025, the total mobile phone customer base reached 10,382,457. The wireless segment showed improvement into Q3 2025, adding 68,018 net mobile phone subscribers, and postpaid churn improved to 1.13%.

Wireline Service Revenue is increasingly tied to fiber deployment. In Q2 2025, consumer fibre Internet net subscriber activations were 26,583. By the end of that quarter, the total high-speed retail Internet subscriber base stood at 4.42 million. The retail IPTV customer base was 2.10 million, representing a 1.1% year-over-year decrease. The momentum continued into Q3 2025, with 65,239 retail fiber-to-the-home (FTTH) net additions reported, contributing to an 11% Internet revenue growth.

Business Solutions Revenue is showing strength in specialized, high-value areas. Bell Business Markets saw revenue growth in Q2 2025, specifically driven by Ateko managed services, cybersecurity, and the launch of Bell AI Fabric. This enterprise momentum carried into Q3 2025, where the enterprise segment reported a 34% revenue growth.

Media Revenue shows a bifurcation between digital growth and traditional advertising softness. Bell Media revenue grew 3.8% and adjusted EBITDA climbed 7.8% in Q2 2025. Direct-to-consumer streaming subscriptions for Crave were a highlight; total Crave subscriptions reached 4.2 million by the end of Q3 2025, fueled by a 67% increase in Crave direct-to-consumer streaming subscribers and a 38% increase in sports direct-to-consumer streaming subscribers. However, advertising revenue remained a drag, sliding 3.1% in Q2 2025, and facing an 11.5% decline in advertising revenue in Q3 2025.

Product Revenue, which includes wireless device sales, saw a significant jump in Q2 2025, increasing by 17.4% to $818 million. This was attributed to higher upgrade volumes and contracted activations. By Q3 2025, product revenue was C$720 million, marking a 5.1% year-over-year rise.

Here's a quick look at the top-line revenue components for the two most recent quarters:

Revenue Component	Q2 2025 Amount (CAD)	Q2 2025 YoY Change	Q3 2025 Amount (CAD)	Q3 2025 YoY Change
Total Operating Revenues	C$6,085 million	1.3% increase	C$6.05 billion	1.3% increase
Total Service Revenue	C$5,267 million	0.8% dip	C$5.33 billion	0.8% increase
Product Revenue	C$818 million	17.4% increase	C$720 million	5.1% increase

You can see the clear shift in revenue mix, with product sales boosting the top line in Q2, while service revenue growth, albeit small, returned in Q3, partly due to the Ziply Fiber acquisition.

Further detail on the Bell CTS segment, which houses most wireless and wireline services, shows:

• Bell CTS Operating Revenues (Q2 2025): $5,334 million
• Bell CTS Operating Revenues (Q3 2025): $5,408 million
• Bell CTS U.S. Segment EBITDA (Q3 2025): $71 million with a 44.4% margin

Finance: draft 13-week cash view by Friday.