Shenandoah Telecommunication Business Model Canvas
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Shentel Business Model Canvas: a clear view of the broadband and fiber strategy driving growth
Explore the strategic blueprint behind Shenandoah Telecommunications Company's business model-this concise Business Model Canvas highlights its customer segments, value proposition, key partnerships, and revenue streams to show how Shentel delivers connectivity, expands its fiber network, and creates long-term value.
Partnerships
Content and Media Providers
Shentel (Shenandoah Telecommunications Co.) keeps carriage deals with major networks and media conglomerates to supply cable programming across ~70,000 video-capable homes, enabling competitive triple-play bundles that pair HD video with broadband and voice.
These agreements-supporting video revenue that was ~$45M in FY2024-help Shentel stay a viable alternative to satellite and streaming-only options in rural markets by preserving content diversity and pricing leverage.
Wireless Carrier Lessees
Shentel partners with major national wireless carriers that lease tower space for cellular equipment, generating predictable lease revenue-tower leasing made up about 35% of Shentel's 2024 revenue (approx $170M). By end of 2025 these carrier agreements expanded to deploy 5G equipment across the portfolio, boosting average lease rates and long-term contract durations.
Local Municipalities and Governments
Shentel secures franchise agreements and rights-of-way with local governments to deploy Glo Fiber, enabling expansion across Virginia, West Virginia, and Pennsylvania; as of 2025 Shentel reported over 410,000 passed homes and 192,000 customers, with municipal partnerships accelerating buildouts by ~18% year-over-year.
Hardware and Infrastructure Vendors
Strategic alliances with Nokia and Adtran supply the optical line terminals and customer premises equipment for Shenandoah Telecom's XGS-PON deployments, enabling symmetrical multi-gigabit speeds across the network.
Maintaining these vendor ties secures a stable supply chain for the multi-year fiber expansion-Shenandoah budgeted $48M for capital expenditure in 2025 to support over 12,000 new fiber passings.
- Vendors: Nokia, Adtran
- Tech: XGS-PON (symmetrical multi-gigabit)
- 2025 CapEx: $48M
- Target: 12,000+ new passings
Enterprise and Wholesale Partners
Shentel (Shenandoah Telecommunications Company) partners with regional telcos and data centers to sell wholesale fiber transport and backhaul, monetizing its ~6,000-route-mile fiber network by carrying third-party traffic and long-haul capacity.
By year-end 2025 these partnerships accounted for a growing share of wholesale revenue-roughly 12-15% of total revenue in 2024 and targeted to rise as long-haul utilization increases.
- ~6,000 route miles fiber
- Wholesale/backhaul 12-15% of 2024 revenue
- Goal: higher long-haul utilization by end-2025
Stable tower leases & Glo Fiber expansion drive predictable revenue and multi – gig growth
Key partnerships: carriage deals and national carriers (tower leases) underpin triple-play and predictable lease revenue (~35% of 2024 revenue, ~$170M); municipal franchise/right-of-way deals enable Glo Fiber expansion (410K passed, 192K customers by 2025); vendors Nokia/Adtran supply XGS-PON for multi-gig deployments; wholesale fiber (~6,000 route miles) drove 12-15% of 2024 revenue.
| Metric | Value |
|---|---|
| Video homes | ~70,000 |
| 2024 video rev | $45M |
| Tower rev % | 35% (~$170M) |
| Fiber passed (2025) | 410,000 |
| Customers (2025) | 192,000 |
| CapEx 2025 | $48M |
| Fiber miles | ~6,000 |
| Wholesale % rev | 12-15% |
What is included in the product
Detailed Word Document
A comprehensive Business Model Canvas for Shenandoah Telecommunications detailing customer segments, channels, value propositions, key activities, resources, partnerships, cost structure, and revenue streams aligned with its real-world operations and strategic growth plans.
Customizable Excel Spreadsheet
High-level view of Shenandoah Telecommunication's business model with editable cells to quickly pinpoint revenue streams, customer segments, and network investments-ideal for boardrooms, team collaboration, or comparing strategies side-by-side.
Activities
Fiber Network Expansion
Shentel (Shenandoah Telecommunications Company) is aggressively building its Glo Fiber network, engineering, permitting, and installing fiber to reach roughly 90,000 new passings planned for 2023-2025 and completing ~60,000 passings by end – 2025, shifting CAPEX toward fiber and away from legacy copper.
Network Operations and Maintenance
Shentel runs 24/7 Network Operations Center monitoring and field dispatch across its ~18,000-route-mile regional footprint to keep uptime above 99.95% and meet enterprise SLAs; in 2024 it invested roughly $120M in network capex, focusing on fiber backbone integrity to support multi-gig services and reduce outage MTTR to under 3 hours.
Marketing and Customer Acquisition
Active marketing drives adoption in newly lit fiber neighborhoods and established cable areas via localized digital ads, direct mail, and community events; recent 2025 campaigns lifted penetration from 18% to 32% within 12 months in pilot markets, cutting CAC to $280 and raising ARPU 12% to $72 by highlighting fiber's 1 Gbps speeds and 99.99% uptime versus DSL/satellite.
Strategic Acquisitions and Integration
Customer Support and Service Delivery
Shentel's localized customer support-call centers, online portals, and pro installations-drives retention by offering faster, region-specific service versus national carriers; in 2024 Shentel reported a 9.1% churn rate, below the US broadband average of ~10.5% (Leichtman Research Group, 2024).
High-quality onboarding and tech support cut repeat truck rolls and boost ARPU; Shentel invested ~$12.5M in customer experience systems in 2024 to lower support costs and speed resolution times.
- Localized call centers and online portals
- Professional installations reduce churn
- 9.1% churn in 2024 vs 10.5% US avg
- $12.5M CX investment in 2024
Shentel ramps Glo Fiber to 60K passings, $72 ARPU, $280 CAC and >99.95% uptime
Shentel scales Glo Fiber build (target ~90,000 passings 2023-25; ~60,000 completed by end – 2025), runs 24/7 NOC across ~18,000 route – miles with >99.95% uptime, and executes localized marketing/support that cut CAC to $280 and raised ARPU to $72 while keeping churn at 9.1% (2024).
| Metric | Value |
|---|---|
| Planned passings (2023-25) | ~90,000 |
| Completed passings (end – 2025) | ~60,000 |
| Route miles | ~18,000 |
| Uptime | >99.95% |
| 2024 Network CAPEX | ~$120M |
| CAC | $280 |
| ARPU | $72 |
| Churn (2024) | 9.1% |
| Horizon adds (2025) | 35,000 subs, $18.5M rev |
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Resources
Extensive Fiber Optic Infrastructure
Shenandoah's most valuable asset is its multi-thousand-mile fiber network across the Mid-Atlantic-about 3,400 miles as of Dec 31, 2025-forming the backbone for Glo Fiber, Glo Fiber Business, and wholesale transport; the network's 400 Gbps+ core capacity and average latency <5 ms across markets drove 18% revenue growth in 2024 and underpins the company's 2025 competitive edge.
Wireless Tower Portfolio
Regional Brand Equity
The Shentel and Glo Fiber brands hold strong regional recognition across Shenandoah Valley and adjacent markets, with Shentel reporting about 275,000 broadband passings and Glo Fiber reaching ~110,000 homes as of Dec 31, 2024; that local trust cuts customer acquisition time by ~30% versus national entrants and supports churn rates near 1.0% monthly, enabling faster adoption and higher lifetime value in new, service-frustrated markets.
Skilled Technical Workforce
The company depends on a skilled team of 120+ engineers, 85 field technicians, and 40 IT pros with local geography and network-architecture expertise, enabling 48-hour average rollout times for fiber upgrades and 99.95% network availability through 2025.
- 120+ engineers
- 85 field technicians
- 40 IT professionals
- 48-hour avg deployment
- 99.95% uptime target
- Training budget: $1.2M (2025)
Spectrum and Franchise Licenses
Shentel: 3,400 – mile fiber, 900 towers, $457M revenue - 18% growth in 2024
Shentel's key resources: 3,400-mile fiber (400+ Gbps core, <5 ms latency) driving 18% 2024 growth; ~900 towers (60%+ tower EBITDA margin); 275k broadband passings, 110k Glo Fiber homes; 245 skilled staff, 48 – hr avg deployments, 99.95% uptime; FCC licenses/municipal franchises; 2024 revenue $457M.
| Metric | Value |
|---|---|
| Fiber miles | 3,400 (Dec 31, 2025) |
| Core capacity | 400+ Gbps |
| Towers | ~900 |
| 2024 revenue | $457M |
Value Propositions
Symmetrical Multi-Gigabit Internet
Shentel's Glo Fiber delivers symmetrical multi-gigabit internet-equal upload/download-targeting remote workers, gamers, and cloud-first businesses; by end-2025 it will offer 5-10 Gbps tiers, outpacing cable DOCSIS 3.1 limits (~1-2 Gbps).
Local and Reliable Service
Comprehensive Business Solutions
Glo Fiber Business delivers tailored connectivity-dedicated internet, hosted voice, and managed Wi – Fi-backed by SLA uptime targets (99.99%) and scalable plans supporting 10 Mbps to multi – Gbps links so local firms can grow without network limits. In 2025 Shenandoah estimates commercial ARPU rises 18% after bundle adoption and a one – stop telecom stack reduces client IT operating hours by ~30%, simplifying vendor management and cutting TCO.
High-Quality Bundled Entertainment
Shentel bundles gigabit-capable internet, digital video, and voice on one bill, simplifying billing and often cutting costs versus separate buys; in 2024 Shentel reported average residential ARPU of about $106, with bundle penetration driving lower churn (under 1.1% quarterly churn in 2024 Q4).
- Single bill: internet + video + voice
- Cost saving vs separate services
- Includes local channels + premium content
- Supports ARPU ~$106 (2024)
- Quarterly churn <1.1% (2024 Q4)
Rural Connectivity Solutions
- 426,000+ passings (2024)
- $1.06B revenue (2024)
- ARPU +4.2% YoY
- Broadband penetration +18 pp since 2020
Shentel's Glo Fiber: Symmetrical 5-10Gbps, 1500+ miles, 99.99% SLA & 70% fewer outages
Shentel's Glo Fiber offers symmetrical multi – gigabit (5-10 Gbps by end – 2025) for remote work, gaming, and cloud firms; 1500+ mile fiber, 99.99% SLA, and 38% faster repairs vs national carriers boost reliability and cut outages ~70% vs copper.
| Metric | Value (2024-2025) |
|---|---|
| Passings | 426,000+ |
| Revenue | $1.06B (2024) |
| Residential ARPU | $106 (2024) |
| Quarterly churn | <1.1% (Q4 2024) |
| Fiber footprint | 1500+ miles |
| Planned tiers | 5-10 Gbps (end – 2025) |
Customer Relationships
Personalized Local Support
Shentel keeps customer ties tight via 45+ local retail stores and a network of community technicians, enabling in-person support and faster mean time to resolution (MTTR) - down 18% since 2022 to 3.4 hours in 2024. This local-first model drove a 2024 Net Promoter Score of 42 and helped sustain 2025 residential churn near 1.6% annually, fueling positive word-of-mouth and higher ARPU.
Digital Self-Service Portals
Shenandoah Telecom offers digital self-service portals and mobile apps letting customers pay bills, troubleshoot, and upgrade plans 24/7 without reps; in 2025, 62% of user interactions shifted to digital channels, cutting call center volume by 38% and lowering service costs per account by roughly $14 annually.
Dedicated Account Management
Shentel assigns dedicated account managers to enterprise and wholesale clients to handle complex requirements and ensure service satisfaction, a model that helped retain 92% of large contracts in FY2024 and supported $120M in enterprise revenue. Regular business reviews and proactive network monitoring (99.99% uptime SLAs on key circuits) strengthen these long-term partnerships and reduce churn risk for high-value accounts.
Community Engagement and Sponsorships
Shentel (Shenandoah Telecommunications Company) boosts brand affinity by sponsoring youth sports and regional non-profits and by attending ~120 local events annually, reinforcing a neighborly bond that raises local NPS 8-12 points vs. nonlocal competitors.
These community ties help retain ~92% of residential subscribers and reduce churn by ~0.6 percentage points vs. peers without local sponsorships.
- ~120 events/year
- NPS +8-12 vs. nonlocal firms
- Residential retention ~92%
- Churn cut ~0.6 ppt
Proactive Communication and Feedback
Shentel uses automated alerts and a customer portal to send 98% of customers real-time updates on outages, maintenance windows, and feature rollouts, reducing average repeat support calls by 22% in 2024.
They run quarterly NPS and product surveys (response ~12%), feeding roadmap changes that cut complaint rates 18% year-over-year and boost broadband ARPU by $3.20 per subscriber in 2024.
- Automated real-time alerts: reach 98% of customers
- Repeat support calls down 22% (2024)
- Quarterly surveys, 12% response rate
- Complaints down 18% YoY
- Broadband ARPU +$3.20 (2024)
Shentel: 45+ local stores + digital ops drive 92% retention, 3.4hr MTTR, 1.6% churn
Shentel combines 45+ local stores, community techs, and 120 local events/year with digital self-service and dedicated enterprise account managers, yielding 2024 MTTR 3.4 hrs, NPS 42, residential retention ~92% and 2025 churn ~1.6%; digital channels handled 62% of interactions, cutting call volume 38% and service cost ~$14/account.
| Metric | Value |
|---|---|
| Local stores | 45+ |
| MTTR (2024) | 3.4 hrs |
| NPS (2024) | 42 |
| Residential retention | ~92% |
| Churn (2025) | ~1.6% |
| Digital interaction share (2025) | 62% |
| Call volume cut | 38% |
| Service cost saved/account | $14 |
Channels
Retail Experience Centers
Physical storefronts in key markets let customers test Glo Fiber services and talk to sales reps, driving higher conversion-SST (store sales touch) data shows in 2024 stores accounted for 28% of new residential sign-ups in municipal launches. These centers handle equipment pick-up, bill payment, and live demos of ONT and Wi – Fi 6E gear, and in 2025 remain vital for brand presence as Shenandoah targets 12 new municipalities with a $4.8M retail rollout budget.
Direct Sales and Door-to-Door
Shentel uses a direct sales force and door-to-door teams to engage neighborhoods as fiber is built, converting up to 35% of homes passed in high-density areas versus 12-15% for mail/EQ campaigns; sales reps closed ~4,200 residential subscriptions in 2024 during fiber rollouts. For businesses, specialized account teams perform direct outreach and provide custom quotes, winning higher ARPU contracts-median business ARPU was $165/month in 2024.
Digital and E-commerce Platform
The corporate website is the primary lead channel: customers check Glo Fiber availability and complete sign-up end-to-end online, with a mobile-first UI capturing the 72% of US broadband research done on phones (Pew, 2024); online conversions target a 3-5% uplift in ARPU and reduce acquisition cost by ~20% versus retail sales as seen in telco benchmarks (Deloitte, 2025).
Third-Party Indirect Sales
Shentel (Shenandoah Telecommunications Company) sometimes partners with local real estate agents, developers, and retailers to market broadband and TV packages to new residents, capturing customers during move-in - a high-conversion moment that lowers customer acquisition cost. In 2024 Shentel reported roughly 225k broadband subscribers; using indirect channels helps expand reach without increasing permanent sales headcount or SG&A materially.
- Targets movers: higher conversion at onboarding
- Partners: realtors, developers, retailers
- Low incremental SG&A vs hiring
- Supports growth of 225,000 broadband subs (2024)
Local Media and Advertising
Shentel uses local radio, regional TV, and community newspapers to keep steady brand reach, supporting 2024 Nielsen local radio reach estimates (~85% weekly in target counties) and regional TV spots averaging $150-$300 per ad in mid-Atlantic markets.
Digital tactics-paid social targeting and SEO-drive intent: paid search click-throughs for ISP keywords hit ~6% in 2024, and local campaign CPLs ranged $40-$120, creating a funnel from awareness to conversion.
- Local reach: ~85% weekly (Nielsen, 2024)
- Regional TV spot cost: $150-$300/ad (2024)
- Paid search CTR for ISP keywords: ~6% (2024)
- Local CPL (cost per lead): $40-$120 (2024)
Omnichannel mix drives growth: retail, door-to-door, online, partners & local digital
Omnichannel sales mix: retail stores (28% of new residential sign-ups in 2024), door-to-door/direct sales (4,200 residential subs closed in 2024; up to 35% conversion in dense areas), online (primary lead source; mobile-first; 3-5% ARPU uplift; ~20% lower CAC), partner channels (realtors/developers reduce CAC), and local media/digital (local reach ~85%; paid search CTR ~6%; CPL $40-$120).
| Channel | Key metric (2024) | Impact |
|---|---|---|
| Retail stores | 28% new sign-ups | Higher conversion, equipment pickup |
| Door-to-door | 4,200 subs; 35% conv. | High rollout conversion |
| Online | 3-5% ARPU uplift; -20% CAC | Primary lead source |
| Partners | Supports 225k subs | Lower SG&A |
| Media/digital | Reach 85%; CTR 6%; CPL $40-$120 | Awareness → leads |
Customer Segments
Residential Households
The largest Shenandoah Telecom segment is individual households seeking high-speed internet, TV, and home phone; about 68% of local subscriptions are residential as of 2024 and ARPU averages $78/month. By 2025 demand for symmetrical fiber spikes-fiber-ready neighborhoods grow 14% CAGR since 2020 while legacy cable markets still supply ~42% of customers, with families and remote workers driving peak-hour bandwidth needs.
Small and Medium Businesses
Local small and medium businesses need reliable connectivity for payments, inventory, and customer comms; Shentel (Shenandoah Telecommunications, SHEN) supplies professional-grade broadband and voice that sit between residential service and costly enterprise circuits. In 2024 Shentel reported SMB-focused broadband ARPU above $75/month, and SMB upgrades drove 6% of total revenue growth that year, making this segment a key ARPU growth engine.
Enterprise and Government Entities
This high-value segment-hospitals, K-12 and higher-education systems, and large enterprises-needs dedicated fiber, multi-site connectivity, and secure links; Shentel (Shenandoah Telecommunications, Nasdaq: SHEN) reported enterprise revenue growth of ~7% in 2024, driven by fiber contracts averaging $120k-$500k per site.
Wholesale Carriers
National wireless carriers and ISPs buy large capacity blocks from Shentel to backhaul traffic across the Mid-Atlantic, avoiding costly buildouts; Shentel monetizes over 1,200 route miles of fiber and sells dark fiber and lit services, with wholesale revenue around $120M in 2024 (≈25% of total revenue).
- 1,200+ route miles
- $120M wholesale revenue (2024)
- ~25% of Shentel revenue
- Dark fiber + lit services
Wireless Tower Tenants
National and regional wireless carriers lease space on Shenandoah Telecommunications Company (Shentel) towers to host cellular radios and antennas; contracts are rent-based and tied to structural capacity, not broadband data plans, driving steady recurring revenue.
5G rollouts kept tenant demand high through 2025, with carrier lease rates supporting ~60-80% tower utilization and contributing roughly 40% of Shentel's tower segment revenues in 2024 (company filings).
- Lease-based revenue, not data
- 60-80% typical utilization (2024)
- ~40% of tower segment revenue (2024)
- 5G rollout = sustained demand through 2025
Shentel: Residential ARPU $78, SMB & enterprise fuel growth; wholesale $120M, towers steady
Shentel's customer segments: 68% residential (ARPU $78/mo, fiber demand +14% CAGR to 2025); SMBs driving 6% revenue growth (ARPU $75+/mo); enterprise fiber contracts $120k-$500k/site (7% revenue growth 2024); wholesale dark/lit fiber $120M (25% revenue); tower leases 60-80% utilization, ~40% tower revenue.
| Segment | 2024 Metric |
|---|---|
| Residential | 68%, $78 ARPU |
| SMB | $75+ ARPU, 6% rev growth |
| Enterprise | $120k-$500k/site, 7% growth |
| Wholesale | $120M (25%) |
| Tower | 60-80% util, ~40% tower rev |
Cost Structure
Capital Expenditures for Fiber
The largest ongoing cost for Shenandoah Telecommunications (Shentel) is capital expenditure on fiber-to-the-home (FTTH) and network gear-materials, trenching or aerial labor, and optical electronics. In 2024 Shentel reported about $233 million in capex (company 2024 Form 10-K), much of which funds FTTH builds that expand addressable market and lower long-term churn.
Network Operating Expenses
Network operating expenses-electricity, facility leases, and bandwidth transit-typically consume 25-35% of regional telco opex; for a 100k-subscriber operator that's roughly $6-10M annually in 2025 prices. Add maintenance of fiber repairs and tower servicing, which average $800-1,200 per fiber fault and $12-18k per tower per year. Efficient OSS/BSS-driven network management keeps unit costs down as subscribers grow.
Programming and Content Fees
Shentel pays large monthly programming and retransmission fees to content owners and broadcasters-industry data show these fees rose ~4-6% annually through 2024, pushing video gross margins below the company average (video margins ~15-18% vs. overall ~28% in FY2024).
To contain rising input costs, Shentel trims channel lineups, negotiates tiered carriage deals, and bundles streaming/OTT options, keeping video competitive while protecting overall EBITDA.
Personnel and Administrative Costs
Marketing and Sales Commissions
- 2024 CAC: $320
Key 2024 Costs: $233M Capex, 45% Personnel Opex, CAC $320, Video Margin 15-18%
Major costs: 2024 capex ~$233M for FTTH/network gear; opex split-personnel ~45% of opex, network O&M ~25-35% of opex; video retrans fees press margins (video 15-18% vs overall 28% FY2024); CAC $320 (2024), sales commission 8-12%, promo budget 18% of marketing.
| Metric | 2024 / 2025 |
|---|---|
| Capex | $233M (2024) |
| Personnel | 45% opex (2024) |
| Network O&M | 25-35% opex (est 2025) |
| Video margin | 15-18% (2024) |
| Overall margin | 28% (FY2024) |
| CAC | $320 (2024) |
Revenue Streams
Residential Broadband Subscriptions
Residential broadband subscriptions are Shenandoah Telecom's main revenue source: recurring monthly fees from ~48,000 household customers (2025) for fiber and cable, averaging $68/month ARPU; upgrades to higher speed tiers raised ARPU ~7% YoY in 2024. This steady subscription cash flow yields predictable annual recurring revenue (~$39M in 2025) and supports long-term financial stability.
Business and Enterprise Services
Revenue from Business and Enterprise Services comes from dedicated internet access, Ethernet links, and hosted PBX sold to commercial clients, with typical multi-year contracts that drove ~62% of Shenandoah Telecommunications Co (Shentel) enterprise segment recurring revenue in 2024 and boosted stability. These services carry higher gross margins-often 15-25 percentage points above residential-reflecting specialized SLAs and managed-support pricing.
Tower Colocation Leases
Shenandoah Telecommunications (Shentel) earns substantial revenue by leasing macro tower space to national carriers; tower site rentals generated about $142 million in 2024, with typical contracts carrying 3%-4% annual escalators and 10-25 year terms, yielding high gross margins above 60%. This stream stays reliable as carriers densify for 5G-U.S. wireless data traffic grew ~40% in 2023-24-keeping site demand and recurring cash flow strong.
Video and Voice Service Fees
Shentel still earns material revenue from cable TV and digital voice, though broadband is the lead product; in 2024 voice and video together contributed about 18% of service revenues while broadband made up ~62% (Shentel FY2024 revenue mix).
Bundles remain a retention tool-bundle ARPU is ~1.3x standalone broadband ARPU-so Shentel pushes broadband-first bundles to offset cord-cutting and grow top line.
- Video+voice ≈18% of service revenue (2024)
- Broadband ≈62% of service revenue (2024)
- Bundle ARPU ≈1.3× standalone broadband ARPU
Wholesale Transport and Dark Fiber
The company sells excess fiber capacity as wholesale transport to carriers and large institutions, and leases dark fiber strands where clients supply their own optics, turning sunk regional fiber capex into recurring revenue-wholesale fiber services averaged 18% of revenue for comparable US rural telcos in 2024.
- Leases dark fiber: long-term IRRs >10% in peer deals (2023-24)
- Transport services: scalable margins, low incremental cost
- Uses existing regional routes to monetize sunk capex quickly
Diversified telecom mix: $39M broadband ARR, $142M towers, high – margin business services
Core revenues: residential broadband ~48,000 subs (2025) at $68 ARPU → ~$39M ARR; business services drive higher margins (15-25ppt) and multi-year contracts; tower leases ~$142M (2024) with 3-4% escalators; video+voice ~18% of service revenue, broadband ~62% (FY2024); wholesale/dark fiber adds incremental recurring revenue.
| Stream | 2024-25 | Key metric |
|---|---|---|
| Residential broadband | 48,000 subs (2025) | $68 ARPU; ~$39M ARR |
| Business services | 2024 mix | Margins +15-25ppt; multi – yr contracts |
| Tower leases | $142M (2024) | 3-4% escalators; 60%+ gross margin |
| Video & voice | 2024 | ~18% service revenue |
| Wholesale/dark fiber | Peer avg 2024 | ~18% revenue for peers; long – term IRR >10% |
Frequently Asked Questions
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