BCE, Canada’s largest communications and media company, has unveiled a three-year plan focused on operational transformation, AI integration, and network expansion across North America.
At its first investor day in more than a decade, BCE announced a 50 percent increase in its 2028 cost-saving target to C$1.5 billion ($1.07 billion), alongside a focus on fiber, wireless, AI-powered enterprise solutions, and digital media.
Bell aims to expand its total subscriber base from 14 million in 2020 to nearly 20 million by 2028. By the end of 2025, Bell expects to have 3 million fibre Internet subscribers, 10.5 million wireless users, and 4 million TV and content customers. The company’s fibre network, which covers more than twice the locations of its nearest competitor, is driving strong growth, with penetration in new markets projected to rise from 20 percent to 46 percent within five years.
In areas with fibre access, 39 percent of households already subscribe to both Bell’s mobility and Internet services, compared to 18 percent in non-fibre regions. Bell expects its converged household mix to reach 50 percent by 2028, boosting cross-selling opportunities across Internet, mobility, and media offerings. Additionally, Bell plans to lower postpaid wireless and household churn rates by around 30 basis points and increase product intensity by 25 percent over the next three years.
BCE CEO Mirko Bibic said: “Our strategy, anchored by four strategic priorities – put the customer first; deliver the best fibre and wireless networks; lead in enterprise with AI-powered solutions; and build a digital media and content powerhouse – is focused on the core areas that will deliver sustainable growth for our investors.”
Here are 10 key points investors need to know about BCE’s investment strategy and growth outlook through 2028.
1. C$1.5 Billion in Cost Savings by 2028
BCE raised its cost-saving target by 50 percent, aiming for C$1.5 billion in savings through company-wide efficiency measures, simplification of operations, and the decommissioning of copper-based legacy networks. The shift to fiber technology is expected to reduce maintenance costs significantly beyond 2028.
2. Free Cash Flow Growth of 15 percent CAGR
Between 2025 and 2028, BCE expects 15 percent compounded annual growth in free cash flow after lease liabilities, driven by strong EBITDA performance and a disciplined capital allocation strategy.
3. Revenue Growth of 2–4 percent CAGR
The company forecasts sustainable revenue growth of 2 percent–4 percent CAGR, fueled by fiber and wireless expansion, AI enterprise solutions, and new digital media initiatives.
4. Expansion into Western Canada
BCE is entering British Columbia and Alberta with new internet services to challenge Rogers Communications and Telus. This expansion marks a major move to strengthen its national presence in Western Canada.
5. U.S. Growth via Ziply Fiber Acquisition
BCE’s C$5 billion acquisition of Ziply Fiber has positioned it as the third-largest fiber Internet provider in North America, with plans to reach up to 8 million fiber locations through its Network FiberCo partnership. Ziply Fiber’s footprint is expected to double to 3 million locations by 2028.
6. Fiber and Wireless Network Leadership
BCE’s fiber network already passes twice as many locations as its nearest competitor, targeting 3 million fiber Internet subscribers and 10.5 million wireless subscribers by 2025. Penetration in new fiber markets is projected to more than double from 20 percent to 46 percent within five years.
7. AI-Powered Enterprise Solutions
BCE is building a C$1.5 billion AI-powered enterprise solutions business through initiatives such as Ateko in Montréal, Bell AI Fabric in British Columbia, and Bell Cyber in Ontario. These platforms aim to reinvent service delivery, lead in cybersecurity, and enable businesses to automate using AI.
8. Digital Media and Content Expansion
Bell Media is transitioning into a digital-first content powerhouse. Its streaming platform Crave targets 6 million subscribers and $1 billion in annual revenue by 2028. Digital revenue is projected to rise from 45 percent in 2025 to 60 percent by 2028, supported by partnerships with Warner Bros. Discovery, Disney, Sony, and NBCUniversal.
9. New Customer Experience Innovations
BCE plans several product launches to enhance user experience and retention, including:
“Unbreakable Internet” launching in 2026 — ensuring connectivity during power outages.
Elimination of TV set-top boxes, shifting to app-based streaming on customer devices.
Tiered wireless plans and AI-driven customer service tools to improve loyalty and reduce churn.
10. Sustainable Dividend and Shareholder Returns
BCE aims to deliver strong total shareholder returns, with around C$5 billion in dividend payments planned through 2028. Its disciplined dividend strategy is backed by free cash flow growth and network efficiencies, ensuring long-term sustainability.
BCE’s 2025–2028 roadmap demonstrates a balanced mix of cost discipline, digital innovation, and AI-led transformation. By expanding into new regions, integrating advanced technologies, and reshaping its media business, BCE aims to deliver steady growth, enhanced customer experience, and strong shareholder value over the next three years.
Baburajan Kizhakedath
