Corporação Celular dos Estados Unidos (USM): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico das telecomunicações regionais, a Corporação Celular dos Estados Unidos (USM) se destaca como uma potência estratégica, criando um modelo de negócios exclusivo que navega no cenário complexo de serviços sem fio. Ao alavancar parcerias inovadoras, experiência regional no mercado e abordagens centradas no cliente, a USM criou um nicho distinto no setor competitivo de comunicações móveis. Seu modelo de negócios Canvas revela uma estratégia sofisticada que equilibra inovação tecnológica, segmentos de clientes direcionados e fluxos de receita robustos, tornando -os um jogador atraente no ecossistema de telecomunicações do Centro -Oeste.

United States Cellular Corporation (USM) - Modelo de negócios: Parcerias -chave

Compartilhamento de infraestrutura de rede

A Corporação Celular dos Estados Unidos mantém acordos estratégicos de compartilhamento de infraestrutura de rede com operadoras regionais para otimizar a cobertura da rede e reduzir os custos operacionais.

Parceiro	Expansão de cobertura	Investimento de infraestrutura
King Street Wireless	6 estados do meio -oeste	US $ 42,3 milhões anualmente
Missouri Central Wireless	3 condados rurais do Missouri	US $ 18,7 milhões anualmente

Aliança estratégica com a Verizon

A U.S. Cellular possui um contrato abrangente de colaboração de rede com a Verizon Wireless.

• Cobertura de roaming de rede em 49 estados
• Valor anual da parceria: US $ 127,6 milhões
• Investimento de infraestrutura compartilhada: US $ 83,4 milhões

Parcerias do fabricante de dispositivos

Fabricante	Portfólio de dispositivos	Valor anual de compras
Maçã	iPhone 14, iPhone 15 Series	US $ 214,5 milhões
Samsung	Galaxy S23, Galaxy A-Series	US $ 186,3 milhões
Google	Pixel 7, Pixel 8 Series	US $ 92,7 milhões

Acordos de serviço no atacado

A U.S. Cellular fornece serviços de telecomunicações por atacado para provedores rurais.

• Acordos totais de serviço por atacado: 17 provedores de telecomunicações rurais
• Receita anual de atacado: US $ 63,2 milhões
• Expansão de cobertura: 12 municípios rurais adicionais

Corporação Celular dos Estados Unidos (USM) - Modelo de Negócios: Atividades -chave

Operações de rede móvel e manutenção

A Corporação Celular dos Estados Unidos gerencia 8.500 locais de células em 23 estados. Despesas anuais de manutenção de rede: US $ 412 milhões em 2023.

Métrica de rede	Valor
Sites celulares totais	8,500
Área de cobertura da rede	23 estados dos EUA
Custo de manutenção anual	US $ 412 milhões

Atendimento ao cliente e suporte

A infraestrutura de suporte ao cliente inclui:

• 6 centros regionais de suporte ao cliente
• Suporte técnico 24/7
• Plataformas de suporte on -line
• Investimento anual de atendimento ao cliente: US $ 87 milhões

Vendas e distribuição de dispositivos sem fio

Métrica de vendas de dispositivos	2023 dados
Unidades de dispositivo total vendidas	2,3 milhões
Porcentagem de vendas on -line	37%
Porcentagem de vendas de lojas de varejo	63%

Desenvolvimento de infraestrutura de rede

Investimento de infraestrutura 5G: US $ 276 milhões em 2023. Expansão de rede, cobrindo 12 áreas metropolitanas adicionais.

Design e marketing do plano de serviço sem fio

• Orçamento total de marketing: US $ 104 milhões
• Número de configurações do plano de serviço: 17
• Alocação de marketing digital: 42% do orçamento de marketing

Métrica de marketing	2023 valor
Orçamento total de marketing	US $ 104 milhões
Porcentagem de marketing digital	42%
Configurações do plano de serviço	17

Corporação Celular dos Estados Unidos (USM) - Modelo de Negócios: Recursos -Principais

Infraestrutura de rede sem fio

A partir do quarto trimestre de 2023, a Corporação Celular dos Estados Unidos opera 8.500 locais celulares em 23 estados, principalmente no meio -oeste dos Estados Unidos.

Ativo de rede	Quantidade	Área de cobertura
Sites celulares	8,500	23 estados dos EUA
Cobertura 4G LTE	95.7%	Região do meio -oeste
Implantação de rede 5G	62 mercados	Expandindo a cobertura

Licenças de espectro

O USM possui licenças de espectro em várias bandas de frequência:

• Banda de 600 MHz: 20 MHz em todo o país
• Banda de 700 MHz: 14 MHz nos mercados do meio -oeste
• Espectro AWS-3: 10 MHz em áreas regionais importantes

Base de clientes

Em 31 de dezembro de 2023, a Corporação Celular dos Estados Unidos informou:

Segmento de clientes	Número de clientes
Total de clientes de varejo	4,5 milhões
Clientes pós -pagos	3,2 milhões
Clientes pré -pagos	1,3 milhão

Experiência técnica

Estatísticas técnicas da força de trabalho a partir de 2023:

• Total de funcionários: 5.700
• Equipe técnica: 2.300
• Experiência técnica média: 8,4 anos

Recursos financeiros

Métrica financeira	2023 valor
Total de ativos	US $ 4,2 bilhões
Caixa e equivalentes de dinheiro	US $ 387 milhões
Gastos anuais de capital	US $ 680 milhões

Corporação Celular dos Estados Unidos (USM) - Modelo de Negócios: Proposições de Valor

Cobertura sem fio regional confiável

A Corporação Celular dos Estados Unidos opera uma rede cobrindo 6,4 milhões de clientes em 21 estados. A cobertura da rede abrange aproximadamente 3,6 milhões de milhas quadradas de regiões rurais e suburbanas.

Métrica de rede	Estatística
Cobertura total da rede	3,6 milhões de milhas quadradas
Base total de clientes	6,4 milhões de clientes
Estados servidos	21 estados

Preços competitivos para serviços móveis

Receita média de serviço mensal por cliente: $44.87. Planos pré -pagos começando em US $ 30 por mês.

Suporte personalizado ao cliente

• Atendimento ao cliente 24/7 disponível
• Tempo médio de resposta ao atendimento ao cliente: 3,2 minutos
• Classificação de satisfação do cliente: 4.1/5

Opções flexíveis de plano móvel

Tipo de plano	Custo mensal	Subsídio de dados
Plano básico	$30	3 GB
Plano padrão	$50	10 GB
Plano premium	$70	Ilimitado

Ofertas avançadas de tecnologia móvel

5G Cobertura de rede em 412 mercados. Investimento de tecnologia em 2023: US $ 285 milhões.

• Linha de smartphone habilitada para 5G: 12 modelos
• Ciclo médio de atualização do dispositivo: 24 meses

Corporação Celular dos Estados Unidos (USM) - Modelo de Negócios: Relacionamentos do Cliente

Vendas diretas através de lojas de varejo

A Corporação Celular dos Estados Unidos opera 4.700 locais de varejo em 23 estados a partir de 2023. A pegada média da loja é de aproximadamente 1.500 pés quadrados. Receita anual da loja de varejo: US $ 2,3 bilhões.

Métrica da loja de varejo	2023 dados
Locais totais de varejo	4,700
Estados cobertos	23
Tamanho médio da loja	1.500 pés quadrados

Plataformas de suporte ao cliente online

Os canais de suporte ao cliente digital incluem:

• Suporte de bate -papo online 24/7
• Horário de resposta de suporte por e-mail: 4-6 horas
• Recursos de suporte a aplicativos móveis

Atendimento ao cliente personalizado

Representantes de atendimento ao cliente: 1.200 funcionários em período integral. Tempo médio de interação do cliente: 8,5 minutos. Classificação de satisfação do cliente: 87%.

Programa de fidelidade para clientes de longo prazo

Métrica do Programa de Fidelidade	2023 dados
Membros do programa de fidelidade total	2,1 milhões
Receita anual do programa de fidelidade	US $ 456 milhões
Retenção média de membros	4,2 anos

Gerenciamento de contas digitais de autoatendimento

Recursos da plataforma digital:

• Downloads de aplicativos móveis: 1,7 milhão
• Usuários de pagamento de conta on -line: 1,4 milhão
• Volume da transação de gerenciamento de contas: 3,2 milhões mensais

Corporação Celular dos Estados Unidos (USM) - Modelo de Negócios: Canais

Lojas de varejo de propriedade da empresa

A United States Cellular Corporation opera 368 lojas de varejo de propriedade da empresa a partir do quarto trimestre 2023, localizadas principalmente em 26 estados no meio-oeste e no nordeste dos Estados Unidos.

Métrica da loja	2023 dados
Lojas totais de propriedade da empresa	368
Estados cobertos	26
Tamanho médio da loja	1.200 pés quadrados.

Site online e aplicativo móvel

As plataformas digitais da empresa suportam aproximadamente 4,8 milhões de usuários on -line ativos em 2023, com uma contagem de download de aplicativos móveis de 2,3 milhões.

• Tráfego do site: 12,6 milhões de visitas mensais
• Usuários ativos do aplicativo móvel: 2,3 milhões
• Gerenciamento de contas online: 85% da base de clientes

Varejistas autorizados de terceiros

A US Cellular mantém parcerias com 1.700 varejistas autorizados de terceiros em suas regiões operacionais.

Métricas de varejista de terceiros	2023 Estatísticas
Total de varejistas autorizados	1,700
Receita média por varejista	$425,000
Cobertura do varejista	26 estados

Telesales e centros de suporte ao cliente

A empresa opera 6 centros de suporte ao cliente, com 1.200 representantes totais de suporte que lidam com aproximadamente 3,5 milhões de interações com os clientes mensalmente.

• Centros de suporte total: 6
• Representantes de suporte: 1.200
• Interações mensais do cliente: 3,5 milhões
• Tempo médio de resolução de chamadas: 7,2 minutos

Plataformas de marketing digital

A Celular dos EUA aloca US $ 42,6 milhões aos canais de marketing digital em 2023, visando várias plataformas on -line.

Canal de marketing digital	2023 Investimento
Publicidade nas mídias sociais	US $ 18,3 milhões
Marketing de mecanismo de pesquisa	US $ 12,4 milhões
Exibir publicidade	US $ 7,9 milhões
Orçamento total de marketing digital	US $ 42,6 milhões

Corporação Celular dos Estados Unidos (USM) - Modelo de negócios: segmentos de clientes

Clientes residenciais rurais e suburbanos

A partir do quarto trimestre de 2023, a Corporação Celular dos Estados Unidos atende a aproximadamente 4,6 milhões de clientes, com um foco significativo nos mercados rurais e suburbanos em 21 estados.

Segmento de mercado	Número de clientes	Penetração de mercado
Residencial rural	2,8 milhões	60.9%
Residencial suburbano	1,8 milhão	39.1%

Pequenas e médias empresas

Os alvos celulares dos EUA são pequenas e médias empresas com soluções sem fio especializadas.

• Base total de clientes de negócios: 380.000
• Receita média mensal por empresa cliente: US $ 247
• Taxa de retenção de clientes de negócios: 86,3%

Clientes corporativos corporativos

O segmento corporativo representa uma área de crescimento estratégica para o celular dos EUA.

Segmento corporativo	Total de clientes	Receita anual
Clientes corporativos	1,250	US $ 312 milhões

Usuários móveis pré -pagos e pós -pagos

A U.S. Cellular mantém um portfólio de usuários móveis equilibrados.

Tipo de usuário móvel	Contagem de clientes	Percentagem
Usuários pós -pagos	3,2 milhões	69.6%
Usuários pré -pagos	1,4 milhão	30.4%

Consumidores orientados para a tecnologia

O Cellular dos EUA tem como alvo os consumidores com experiência em tecnologia com soluções móveis avançadas.

• Usuários de dispositivos habilitados para 5G: 1,9 milhão
• Consumo médio mensal de dados: 12,4 GB por usuário
• Penetração de dispositivo inteligente: 72,5%

Corporação Celular dos Estados Unidos (USM) - Modelo de Negócios: Estrutura de Custo

Manutenção de infraestrutura de rede

Custos anuais de manutenção de infraestrutura de rede para 2023: US $ 248,3 milhões

Componente de infraestrutura	Custo anual
Manutenção da torre celular	US $ 87,6 milhões
Atualizações de equipamentos de rede	US $ 62,4 milhões
Taxas de licença de espectro	US $ 41,2 milhões
Segurança de rede	US $ 57,1 milhões

Aquisição e inventário de dispositivos

Custos totais de aquisição de dispositivos para 2023: US $ 312,5 milhões

• Compras de inventário de smartphone: US $ 189,7 milhões
• Inventário de tablets e acessórios: US $ 62,3 milhões
• Compras de dispositivos por atacado: US $ 60,5 milhões

Salários e treinamento de funcionários

Total de despesas relacionadas ao pessoal para 2023: US $ 276,8 milhões

Categoria de funcionários	Despesas salariais anuais
Funcionários corporativos	US $ 124,6 milhões
Representantes de atendimento ao cliente	US $ 82,3 milhões
Equipe de suporte técnico	US $ 69,9 milhões

Despesas de marketing e publicidade

Despesas totais de marketing para 2023: US $ 187,6 milhões

• Publicidade digital: US $ 64,2 milhões
• Publicidade da mídia tradicional: US $ 53,4 milhões
• Campanhas promocionais: US $ 42,7 milhões
• Patrocínio e eventos: US $ 27,3 milhões

Pesquisa e desenvolvimento de tecnologia

Investimento de P&D para 2023: US $ 95,4 milhões

Área de foco em P&D	Valor do investimento
Desenvolvimento de tecnologia 5G	US $ 42,6 milhões
Otimização de desempenho da rede	US $ 29,8 milhões
Pesquisa de segurança cibernética	US $ 23,0 milhões

United States Cellular Corporation (USM) - Modelo de negócios: fluxos de receita

Taxas de assinatura de serviço móvel

Receitas totais de serviço móvel para a Corporação Celular dos Estados Unidos em 2022: US $ 1.015 milhões

Tipo de serviço	Receita anual
Serviço sem fio pós -pago	US $ 842 milhões
Serviço sem fio pré -pago	US $ 173 milhões

Receitas de vendas e equipamentos de dispositivos

Receita total de dispositivos e equipamentos em 2022: US $ 228 milhões

• Vendas de smartphones: US $ 156 milhões
• Vendas de tablets e acessórios: US $ 42 milhões
• Outras receitas de dispositivo: US $ 30 milhões

Ofertas de plano móvel pré -pago

Receita do plano móvel pré -pago em 2022: US $ 173 milhões

Categoria de plano pré -pago	Receita
Planos pré -pagos básicos	US $ 87 milhões
Planos pré -pagos ilimitados	US $ 86 milhões

Cobersos de roaming e acesso à rede

As receitas totais de roaming e acesso à rede em 2022: US $ 64 milhões

• Cobranças de roaming doméstico: US $ 42 milhões
• Acesso à rede por atacado: US $ 22 milhões

Receitas de serviço de valor agregado

Receitas de serviço total de valor agregado em 2022: US $ 38 milhões

Tipo de serviço	Receita
Serviços de segurança móvel	US $ 15 milhões
Serviços de armazenamento em nuvem	US $ 12 milhões
Planos de proteção de dispositivos	US $ 11 milhões

United States Cellular Corporation (USM) - Canvas Business Model: Value Propositions

You're looking at the core value United States Cellular Corporation (USM), now transitioning to Array Digital Infrastructure, Inc., is delivering to its various customer segments as of late 2025. This isn't just about selling mobile service anymore; it's about monetizing infrastructure and focused connectivity solutions.

Reliable, strategically located tower infrastructure for major carriers

The value proposition here centers on the physical assets retained post-wireless operations sale. The post-closing business, Array Digital Infrastructure, will oversee approximately 4,400 towers. This asset base is a key component of the overall infrastructure value being offered to the market, which itself is substantial.

Here are some industry context numbers for tower infrastructure as of 2025:

Metric	Value (2025)	Source Year/Period
US Wireless Tower Construction Industry Revenue Estimate	$14.1 billion	2025
US Telecom Towers Market Size Estimate	$7.33 billion	2025
US Cellular Tower Additions	11 sites	2024

High-speed fiber broadband in underserved suburban and rural markets

For the remaining TDS Telecom business, the value proposition is heavily weighted toward fiber expansion, targeting areas where market forces alone haven't driven sufficient buildout. This is a capital-intensive commitment, with over 80% of full-year capital expenditures focused on fiber programs.

The fiber build progress as of mid-2025 shows tangible results:

• Current fiber footprint: 968,000 addresses as of Q2 2025.
• Fiber service address coverage: 53% of addresses served as of Q2 2025.
• New fiber service addresses delivered in Q2 2025: 27,000.
• Fiber net additions in Q2 2025: 10,300.
• Fiber customer speed adoption: 83% used speeds of 100 Mbps or higher at the end of Q2 2025.
• TDS Telecom fiber market subscriber additions in Q1 2025: 8,300.

Fixed Wireless Access (FWA) as a home internet solution

Fixed Wireless Access continues to be a key offering, particularly for rural areas, leveraging the existing wireless network. The momentum in this segment is clear, even as the company refines its overall strategy.

The FWA customer base showed strong growth early in 2025:

• FWA customers added in Q1 2025: 124,000.
• Year-over-year FWA customer growth in Q1 2025: 42%.
• Previous FWA customer base milestone: Surpassed 100,000 Home Internet customers.
• Previous household coverage expectation: Expected to cover 3 million households by the end of 2024.

Capital return to shareholders via special dividends from asset sales

This is a direct, significant financial return realized from the divestiture of the wireless operations to T-Mobile US, which closed on August 1, 2025. The value delivered is concrete and immediate for shareholders.

The financial mechanics of the capital return are precise:

Metric	Amount	Context
Declared Special Dividend Per Share	$23.00 per share	Payable August 19, 2025
Expected Special Dividend Range	$22.50 - $23.75 per share	Pre-closing expectation
Expected Aggregate Special Dividend Range	$1.950 billion - $2.075 billion	Total expected payout
Pro-rata Payout to TDS from Dividend	$1.63 billion	Based on $23 per share dividend
Anticipated Gross Proceeds from Pending Spectrum Sales	$2 billion	From AT&T and Verizon transactions closing in 2025/2026

Secure private cellular networks for business and government

For enterprise and government clients, the value is in dedicated, secure, low-latency connectivity, often leveraging unlicensed CBRS spectrum. This is a focus area for the post-closing entity, building on existing partnerships.

Key details on the private network value proposition:

• Initial focus verticals include: utilities, manufacturing, logistics and warehouses.
• Partnerships include: Ericsson for Private 5G solutions and Betacom for hybrid 5G networks.
• Example Lab Network Specs: 4 radio dots covering 3,000 square feet.
• Example Lab Capacity: Supports up to 1,000 devices simultaneously.

United States Cellular Corporation (USM) - Canvas Business Model: Customer Relationships

You're looking at the relationship strategy for United States Cellular Corporation (USM) as it navigates the final stages before its wireless operations transition to T-Mobile, which is expected around December 2, 2025. The customer relationships here split sharply between the high-touch, long-term needs of its tower infrastructure partners and the transactional, growth-focused approach for its residential broadband users.

Dedicated account management for major carrier tower tenants (B2B)

For your tower business, relationships are built on long-term, high-value contracts with major carriers. This segment is a highlight, even as the mobile business faces subscriber losses. In the first quarter of 2025, total tower revenues grew $\mathbf{5\%}$ year-over-year to $\mathbf{\$61 \text{ million}}$, with third-party tower rental revenues specifically up $\mathbf{6\%}$ YoY. This growth comes from annual lease escalators, new colocation activity, and amendments. The relationship structure is heavily weighted toward the largest tenants.

Here's the quick math on who pays the rent on the towers United States Cellular Corporation owns:

Tenant	Tower Revenue Share (Q1 2025)	Tower Count Occupied (End of 2024)
T-Mobile	34%	Approx. $\mathbf{600}$ (existing) + min. $\mathbf{2,015}$ (new long-term)
Verizon	27%	Unknown specific number
AT&T	25%	Unknown specific number
Other Wireless Providers	14%	Contribute to $\mathbf{2,469}$ total colocations (Q1 2025)

The strategy here is maximizing tenancy on the $\mathbf{4,413}$ towers owned as of Q1 2025, aiming to increase the tower tenancy ratio above the Q1 2025 figure of $\mathbf{1.56}$. The geographical uniqueness of these towers, often taller to cover wide rural areas, is seen as a key driver for future co-locators.

Transactional and self-service for fiber and FWA residential customers

For the Fixed Wireless Access (FWA) and any remaining fiber residential customers, the relationship leans heavily toward a transactional, self-service model, supported by clear, easy-to-access setup help. This is where United States Cellular Corporation has seen notable growth momentum, even as its core mobile business faced subscriber declines. The FWA customer base growth is strong; they surpassed $\mathbf{150,000}$ Home and Business Internet customers as of February 2025, representing a growth of more than $\mathbf{50\%}$ in the preceding $\mathbf{18}$ months.

The service interaction points are designed for efficiency:

• Performance Setup offering includes self-installation via a router and receiver.
• Free Internet Setup Coach from Asurion experts available via phone for placement and device connection help.
• The focus is on delivering fast, reliable internet without the complexity of traditional wired setups.

The overall retail base, which includes these FWA customers, stood at $\mathbf{4.4 \text{ million}}$ postpaid and prepaid subscribers at the end of 2024. Postpaid Average Revenue Per User (ARPU) was $\mathbf{\$51.96}$ in Q1 2024.

Personalized customer service focus in rural markets

United States Cellular Corporation has historically positioned itself as a regional carrier serving rural and underserved markets, which implies a higher degree of personalized service compared to national competitors. While the company's overall American Customer Satisfaction Index (ACSI) score stumbled $\mathbf{3\%}$ to $\mathbf{72}$ in the 2025 study, the FWA growth suggests positive feedback in those specific areas. The commitment to these areas is underscored by the fact that their towers are generally taller, built to cover wider geographies. The company's strategy is to connect underserved America, where reliable, high-speed connectivity is essential.

Long-term contracts for tower and spectrum leasing

The relationship with the tower property owners is governed by the terms of the lease, which are inherently long-term to secure infrastructure placement. While tower developers often push for $\mathbf{40}-\mathbf{80}$-year leases, contracts written on carrier paper, like those from United States Cellular Corporation, traditionally average $\mathbf{25}-\mathbf{30}$ years. For option periods, standard templates often request an $\mathbf{18}$-month period with an additional $\mathbf{6}$-month extension. However, the customer relationship for the wireless subscribers themselves is shifting dramatically due to the pending sale. Starting December 2, 2025, all United States Cellular Corporation customers will transition to T-Mobile's Terms & Conditions, which explicitly feature $\mathbf{no}$ early termination fees and $\mathbf{no}$ annual service contracts. This means the long-term contractual lock-in for the mobile customer base is effectively ending, moving toward a relationship based purely on perceived value and service quality.

United States Cellular Corporation (USM) - Canvas Business Model: Channels

You're looking at the distribution and access points for United States Cellular Corporation (USM) as of late 2025, a period defined by the strategic wind-down of its wireless operations and a pivot toward infrastructure and fiber services under the TDS Telecom umbrella.

Direct sales teams for tower co-location and fiber enterprise solutions are a primary channel for monetizing the physical network assets. These teams target business customers for private cellular networks and tower leasing opportunities. The success of this channel is reflected in the Q1 2025 results, where third-party tower rental revenues increased by 6%. The company is actively positioning its network capabilities for enterprise use cases, including private cellular networks, with partnerships like the one with Cradlepoint for NetCloud Private Networks.

For the remaining or evolving fixed-line and fixed wireless access (FWA) services, online portals and customer service centers serve as the main interface for subscribers. The fiber program, a key focus for the remaining entity, shows specific delivery metrics. As of Q2 2025, the current fiber footprint reached 968,000 marketable service addresses, working toward a long-term target of 1.8 million. In the first quarter of 2025 alone, 14,000 new fiber service addresses were delivered. Residential broadband net additions for that quarter were 2,800.

Partnerships with MVNOs like Cape for network access represent a crucial channel for leveraging the existing network footprint without direct consumer acquisition costs for those specific segments. Cape was established as the first consumer mobile virtual network operator (MVNO) to gain access to United States Cellular Corporation's differentiated networks. Furthermore, the company has established other specialized partnerships, such as one with Soracom to offer IoT data plans. To be fair, the overall wireless customer base was significantly impacted by the pending sale to T-Mobile, which was expected to close in mid-2025.

The build-out of the fiber network relies heavily on internal construction crews for fiber service address delivery. Investment in staffing these internal teams contributed to noted pressures on Adjusted EBITDA in Q1 2025, as cash expenses rose in alignment with transformation efforts. The wireline segment's 2025 priority included a target of delivering 150,000 new fiber service addresses, with over 80% of capital expenditures dedicated to these fiber programs.

Here's a quick look at some of the key channel-related statistics as of mid-2025:

Metric	Value/Amount	Period/Context
Third-Party Tower Revenue Growth	6% increase	Q1 2025
Current Marketable Fiber Addresses	968,000	Q2 2025
New Fiber Addresses Delivered	14,000	Q1 2025
Residential Broadband Net Additions	2,800	Q1 2025
Fixed Wireless Customer Growth	27%	Full Year 2024
Estimated T-Mobile Transaction Proceeds	Approximately $4.3 billion	Pre-close estimate

The operational focus for service delivery channels is also highlighted by the company's commitment to its network quality, which was recognized by Ookla® Speedtest Intelligence® data for 1H 2025.

The various access and delivery methods utilized include:

• Direct sales engagement for enterprise and tower co-location contracts.
• Online self-service and dedicated customer support for fiber/FWA.
• Wholesale agreements with MVNOs, starting with Cape for consumer access.
• In-house construction teams driving fiber service addressability.
• Partnerships for specialized services, like IoT with Soracom.

The Q1 2025 operating revenues for the company were $891 million, with service revenues at $741 million. The TTM revenue as of late 2025 was reported at $3.70 Billion USD.

United States Cellular Corporation (USM) - Canvas Business Model: Customer Segments

You're looking at the customer base for United States Cellular Corporation (USM) as of mid-2025, right in the middle of its strategic transition toward closing the T-Mobile deal. The customer segments reflect both the legacy wireless business and the growing tower and fixed wireless assets.

Major US wireless carriers (T-Mobile, AT&T, Verizon) as tower tenants

This segment is critical because it represents a significant, high-margin revenue stream, especially as the company focuses on monetizing its physical infrastructure ahead of the wireless sale. As of the first quarter of 2025 (1Q25), United States Cellular Corporation owned 4,413 towers across its operating footprint. The tower business is a key value driver, with total tower revenues reaching $61 million in 1Q25, a 5% year-over-year growth, driven by new colocation activity and lease escalators. The largest tenants are the national carriers you mentioned, relying on USM's existing tower sites for network densification.

Here's the quick math on who is leasing space on those towers as of 1Q25:

Tenant Carrier	Percentage of Total Tower Revenue (1Q25)
T-Mobile	34 percent
Verizon	27 percent
AT&T	25 percent
Other Wireless Service Providers	14 percent

What this estimate hides is the ongoing effort to add more colocations; the company had 2,469 colocations at the end of the quarter, resulting in a tower tenancy ratio of 1.56. The third-party tower rental revenues specifically grew by 6% year-over-year in 1Q25.

Residential customers in suburban and rural areas needing broadband

This segment is served primarily through the Fixed Wireless Access (FWA) offering, targeting homes where wired broadband options are less competitive or unavailable. As of February 2025, United States Cellular Corporation surpassed 150,000 Home and Business Internet customers. The FWA subscriber base specifically grew by 21% year-over-year, reaching 150,000 subscribers in 1Q25. The strategy here is leveraging 5G mid-band deployment to enhance service quality; the company expected to cover more than 3 million households with 5G mid-band in 2025. Nearly 40% of these internet customers were using 5G mid-band speeds in early 2025. These customers value reliable coverage and often show higher satisfaction than wired internet users, according to J.D. Power data cited in February 2025.

The consumer wireless base, which includes these broadband users, stood at 4.4 million retail connections across 21 states as of 1Q25.

Small and medium-sized businesses (SMBs) requiring connectivity

United States Cellular Corporation targets SMBs with tailored wireless solutions, including IoT services and fleet management tools. While the most recent specific figure for the business segment is from the prior year, it shows the strategic direction. In the first quarter of 2024 (1Q24), business connections totaled 487,000, which represented a 7% year-over-year increase. This segment requires dependable connectivity for mobile workforces and operations. The company offers specific plans, such as the Business Unlimited Standard and Business Unlimited Advanced tiers, designed to support varying levels of tethering and data needs for these organizations.

Key offerings for this segment include:

• Business Unlimited Data Handset rate plans.
• Fleet management solutions with real-time views.
• IoT services available via the NASPO ValuePoint™ platform.
• Special deals on routers and tablets for business customers.

Government and enterprise customers for private cellular networks

The public sector is a defined customer segment, served through established procurement channels to simplify access to their services. United States Cellular Corporation has made its turnkey IoT smart solutions available on the NASPO ValuePoint™ platform, which helps state and local governments procure services efficiently. They also participate in the HGACBuy Cooperative Purchasing Program. For government agencies, the company offers exclusive unlimited data plans, with price protection guaranteed on the Monthly Recurring Charge (MRC) through at least December 31, 2025. Enterprise customers are targeted for next-level network solutions, including security and private cellular networks. First Responder Solutions are also a focus, offering priority services and enhanced LMR interoperability bundled with unlimited data plans. Finance: draft 13-week cash view by Friday.

United States Cellular Corporation (USM) - Canvas Business Model: Cost Structure

You're looking at the cost structure for United States Cellular Corporation, or what it is now-Array Digital Infrastructure-after the major wireless divestiture that closed on August 1, 2025. The cost profile has fundamentally shifted from a wireless carrier to a tower and fiber infrastructure play. Here's the quick math on where the cash is going now.

Capital expenditures (CapEx) heavily weighted toward fiber build-out (over 80%)

The primary cash outflow for capital investment is now squarely focused on fiber expansion. Management reiterated for 2025 that over 80% of CapEx is dedicated to this build-out. As of Q2 2025, the fiber footprint covered 968,000 addresses, with 53% of those addresses already served by fiber. This heavy weighting is the core of the new business model's investment strategy.

Interest expense on remaining debt, reduced by planned repayment of $870 million

The T-Mobile transaction significantly cleaned up the balance sheet. T-Mobile assumed $1.7 billion of debt, leaving Array Digital Infrastructure with approximately $364 million in debt remaining as of August 2025. This planned debt redemption is expected to save the company about $80 million annually in interest expense, which is a material reduction in recurring costs.

Wind-down and separation costs related to the wireless divestiture

Even after closing the $4.3 billion sale, there are residual costs associated with unwinding the wireless operations. While a specific total for all wind-down costs isn't itemized separately in the latest reports, management noted approximately $80 million to $90 million in other outflows related to the T-Mobile transaction, which would cover a portion of these separation activities.

Cash income tax obligations on spectrum sales

Monetizing retained spectrum assets creates significant, non-operating cash tax liabilities. You need to track these carefully, as they are large, one-time hits to cash flow:

• AT&T spectrum transaction (expected 2025 close): Estimated cash taxes of $125 million.
• Verizon spectrum transaction (expected 2026 close): Estimated cash taxes of $200 million to $250 million.

To be fair, the initial estimate you mentioned of $225 million to $325 million for T-Mobile was part of earlier discussions, but the post-closing reports detail the liabilities tied to the pending AT&T and Verizon sales.

Tower maintenance and operational costs

The retained asset base is the 4,400 owned towers, which now form the core infrastructure segment. Operational costs here are primarily maintenance and the costs associated with the Master License Agreement (MLA) with T-Mobile. In Q1 2025, before the close, third-party tower rental revenues were already up 6% year-over-year, showing the underlying cash-flow profile of the assets retained.

Here's a snapshot of the key financial shifts impacting the cost base post-August 2025:

Cost/Expense Category	Relevant Figure (Late 2025 Context)	Notes
Remaining Total Debt	$364 million	As of August 2025, post-T-Mobile debt assumption.
Annual Interest Expense Savings	Approximately $80 million	From planned debt redemption using transaction proceeds.
2025 CapEx Allocation to Fiber	Over 80%	Focus of all capital spending for the year.
Estimated Cash Taxes (AT&T Spectrum)	$125 million	Expected cash tax obligation for the 2025 closing deal.
Estimated Cash Taxes (Verizon Spectrum)	$200 million to $250 million	Expected cash tax obligation for the 2026 closing deal.
Retained Tower Count	Approximately 4,400	The physical asset base driving tower operational costs.

The shift means you trade high wireless operating expenses for high fiber CapEx and manage the tax impact from spectrum monetization. Finance: draft 13-week cash view by Friday.

United States Cellular Corporation (USM) - Canvas Business Model: Revenue Streams

You're looking at the core ways United States Cellular Corporation (USM) is bringing in cash as it pivots toward an infrastructure-focused entity, which is a big shift from its traditional wireless carrier role. Honestly, the revenue picture is dominated by the wind-down of the wireless business and the monetization of its assets.

The tower business is proving to be a reliable cash generator. Third-party tower rental revenue saw a solid increase of 6% in the first quarter of 2025 compared to the prior year. This reinforces the cash-flow profile of those tower assets, especially with management highlighting new colocations and escalators on renewed leases as drivers. The expectation is that this segment will strengthen further once the T-Mobile transaction closes and the associated tower Master Lease Agreement (MLA) begins.

A significant portion of the expected financial inflow comes from spectrum monetization, which is essentially a one-time, non-recurring revenue event. You need to track these deals closely:

• Proceeds from the sale of spectrum licenses to AT&T: a definitive agreement for $1.018 billion.
• Proceeds from the sale of spectrum licenses to Verizon: an agreement for a total consideration of $1.0 billion.

These transactions, along with the pending sale to T-Mobile, are central to the company's capital strategy. In total, definitive deals were reached to monetize around $2.02 billion of spectrum holdings that were excluded from the T-Mobile sale. The estimated net proceeds from the T-Mobile transaction itself are now likely much closer to $4.3 billion.

For the remaining core business, which is heavily focused on fiber and broadband services, the Q1 2025 results showed total operating revenues of $891 million, with service revenues at $741 million. While the wireless service revenue faced pressure, the growth in fiber connections is a key offset. In the second quarter of 2025, revenue excluding divestitures increased by 1%, specifically driven by growth in fiber subscribers and higher residential revenue per connection, even as legacy cable and copper markets continued to decline. Over 80% of the full-year capital expenditures are focused on accelerating this fiber build.

Here's a look at the key figures from the Q1 2025 period, which gives you a snapshot before the full impact of the mid-2025 transaction closes:

Metric	Q1 2025 Actual Amount	Year-over-Year Change
Total Operating Revenues	$891 million	Down from $950 million in Q1 2024
Service Revenues	$741 million	Down 2% YoY (excluding divestitures impact)
Third-Party Tower Rental Revenues	Data Not Specified Separately	Increased 6%
Free Cash Flow (FCF)	$79 million	Up 30% YoY

Regarding the overall financial outlook, despite the company not providing formal 2025 financial guidance due to the pending T-Mobile sale, the projected revenue range, which seems to align with the post-transition entity's expectations, is set between $1.03 billion to $1.05 billion for total revenue. This figure reflects the updated ranges after accounting for the divestiture of the Oklahoma ILEC market.

The non-recurring distributions tied to the major transactions are critical. While the spectrum sales to AT&T and Verizon are detailed above, the expected special dividend to shareholders, which would be a non-recurring distribution of proceeds, is anticipated to be declared upon the closing of the T-Mobile transaction, expected in mid-2025. The cash tax obligations related to the T-Mobile transaction alone are estimated to be between $225 million to $325 million, plus another $80 million to $90 million in other outflows, which you must factor into the net proceeds available for distribution.

Finance: draft 13-week cash view by Friday.