HIGHOutside partySupplier
third-party programming providers
“10-K Item 1A: 'we depend almost exclusively on our relationships with third-party programming providers and broadcasters for programming content'”
LBTYK · Concentration risk · 10-K extracted
Liberty Global (LBTYK) concentration risks
Updated
The most significant concentration Liberty Global discloses is third-party programming providers, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Liberty Global’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partySupplier
Three (Hutchison) MVNO
“10-K Item 1A: 'our services to mobile customers in Ireland rely on the use of an MVNO arrangement with Three, whereby we utilize the radio access networks of a third-party wireless network provider'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile combines a high-share programming supply dependency with a moderate MVNO supplier dependency. The dominant exposure is the company's near-exclusive reliance on third-party programming providers and broadcasters for programming content, a high-share dependency that is foundational to the video product offering. The inability to maintain or renew programming agreements — or adverse shifts in carriage terms — could materially affect the attractiveness and cost structure of the video service, with limited ability to substitute content sources in the short term. The second exposure is a moderate-share supplier dependency: mobile services in Ireland rely on an MVNO arrangement with Three, whereby the company utilizes the radio access networks of a third-party wireless network provider. As with any MVNO relationship, the company's mobile service in that market is contingent on the continuity and terms of that arrangement and is subject to the network capacity decisions of the infrastructure owner. The two dependencies are structurally distinct — one governs content availability and the other governs mobile network access — but both share a common character: the company does not own the underlying resource it depends on to serve customers in these segments. A disruption in either relationship would require the company to negotiate replacement arrangements or restructure the affected service under time pressure. Neither carries a disclosed revenue percentage. Monitoring programming contract renewals and the Three MVNO arrangement are the primary watch items from the concentration disclosures, with the programming dependency representing the higher disclosed-size exposure.
For the engine’s reasoning on LBTYK’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Telecom Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AD | Array Digital Infrastructure, I | 2 | 0 | 0 | 2 |
| CMCSA | Comcast Corporation | 1 | 1 | 0 | 2 |
| GSAT | Globalstar, Inc. | 1 | 1 | 0 | 2 |
| LBTYK● | Liberty Global Ltd. | 1 | 1 | 0 | 2 |
| IRDM | Iridium Communications Inc | 0 | 1 | 1 | 2 |
| CHTR | Charter Communications, Inc. | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.