Unlock new revenue streams and optimize roaming to capture ROI
Mobile network operators (MNOs) are standing at a crossroads. On one hand, the advancements of 4G and 5G networks, evolving device types (smartphones, IoT, fixed wireless, and roaming devices), and expanding service capabilities open fresh opportunities and avenues for growth.
But at the same time, MNOs are experiencing mounting pressure on traditional revenue streams such as voice minutes, SMS, and flat-rate data plans. The Average Revenue Per User (ARPU) is continually challenged by commoditization, Over-The-Top (OTT) options, and fierce competition. Meanwhile, costs continue to rise with network upgrades and rollouts, spectrum renewal, and edge infrastructure development, which puts pressure on MNOs to drive an improved return on investment.
The questions are clear: CFOs, Roaming Managers, and Directors of Wholesale are asking, “How do we unlock new revenue from next-generation networks and services?” And just as importantly, “How do we make sure we aren’t losing money through revenue leakage, under-charging, or inaccurate settlements?”
As a result, monetization must become a strategic initiative. For MNOs this means accurately capturing usage, recognizing service value, differentiating pricing, and assuring billing and clearing from end‐to‐end, especially in roaming and mobile IoT contexts.
This blog explores how monetization must evolve, why roaming (including IoT and permanent roaming) matters, and how MNOs can position themselves to capture value from 4G, 5G, and beyond, while protecting revenue and limiting revenue leakage.
The changing telecom revenue landscape
In the past, voice, SMS, and basic data formed the core of an MNO’s business. Today however, the market for these basic services is saturated, and while data traffic continues to surge, ARPU growth struggles to keep up. In many markets, mobile networks have become commoditized, forcing MNOs to compete mainly on cost, speed, and coverage rather than differentiated services. New competitors and OTT players have taken a toll on margins, increasing pressure to reduce differences between wholesale and retail prices.
As Boston Consulting Group (BCG) observes: “In the five years from 2020 to 2024, the telcos in our survey delivered a median annualized total shareholder return (TSR) of about 4% — far below the 12% five-year annualized TSR of the S&P 1200 index.” 1
For CFOs, this means that investments in infrastructure such as 4G and 5G will require returns to cover those costs. Yet relying on connectivity alone may not suffice. Simon Kucher & Partners highlights in its 2025 study: “By investing in retention levers, enhancing loyalty programs, and adopting monetization strategies…MNOs can close the value gap and future-proof their business.” 2
The real challenge now is not just driving growth, but creating value by finding new ways to monetize both current offerings and emerging 5G services like roaming and network slicing.
The monetization imperative — Shift from connectivity to personalized services
What does “monetization” mean for an MNO? Monetization involves much more than simply turning connectivity into revenue. It requires precision, adaptability, and a broader strategic vision. As MNOs expand from basic connectivity to a wider range of services, they must move beyond traditional, one-size-fits-all pricing models like unlimited plans.
Instead, they should consider flexible, usage-based pricing that reflects the diverse nature of current offerings. Smarter pricing strategies enable MNOs to respond instantly to customer preferences, network performance, and usage trends, unlocking new opportunities to deliver tailored value that is tied to subscriber personalization.
This shift is especially evident as MNOs invest in value-added services such as enterprise 5G, network slicing, cloud and edge computing, and IoT solutions. Success in this evolving landscape depends on treating every element of the monetization process —from the charging engine and mediation systems to clearing and settlement — as crucial. Accurate and efficient charging and settlement have become essential for capturing value and preventing revenue loss.
For those managing wholesale and roaming operations, it’s critical to align agreements, interconnects, traffic management, and device handling with modern monetization strategies. Without a comprehensive approach, the risk of lost revenue and operational inefficiency grows, making effective monetization design a key priority for future success.
Monetization challenges and what’s holding MNOs back
To remain competitive, many MNOs support multi-gen networks (2G/3G/4G/5G), multiple 5G cores, non-standalone and standalone (NSA/SA), diverse partner relationships (roaming, wholesale), and maintain legacy billing and mediation systems. This fragmentation makes it hard to capture all usage, especially from new devices and services.
MNOs risk significant revenue leakage when devices using their networks are not accurately identified, charged, or settled, leading to lost income and potential undercharging for services. As an example, roaming traffic may be misclassified because of the inability to properly identify devices roaming across their network such as permanent roamers or IoT devices, which results in improper billing.
Settlement errors, delayed billing cycles, and mismatches in partner data further compound the issue, causing discrepancies in financial reconciliation. As new service types such as network slicing and IoT emerge, legacy charging systems often cannot differentiate these offerings, making it difficult to apply appropriate pricing and collect the correct revenue. Without robust systems to address these challenges, MNOs may inadvertently leave money on the table.
For roaming and wholesale managers, meeting these challenges means identifying the traffic, assigning the correct tariff/partner settlement, avoiding leakage, and ensuring settlement correctly reflects cost and revenue.
In wholesale and roaming, it's crucial that partner data such as inter-MNO tariffs, interconnect rates, and roaming fees match actual usage, costs, and billing records. Mistakes or mismatches can result in lost revenue or billing disputes.
Monetization as the engine of future revenue
To succeed in today’s complex telecom environment, MNOs need to rethink their approach to monetization and revenue assurance. By taking steps to optimize for better visibility, more accurate device and traffic classification, and more robust charging and settlement systems, MNOs can capture the full value of their network investments and new service offerings.
The future of mobile monetization will be shaped by those who can adapt quickly, minimize leakage, and align their business models with the demands of next-generation technologies. With a strategic approach, MNOs will be positioned to unlock new growth, protect their margins, and deliver lasting value as the industry continues to evolve.
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Discover how Syniverse’s advanced clearing and settlement solutions — including financial clearing, data clearing, and Universal Commerce for BCE — can help your business maximize revenue and efficiency.
Visit Syniverse today to learn more about optimizing your mobile monetization strategy.
References:
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Rastogi, Vaishali; Lusada, Franck; Elbert, Val; Wilms, Maikel. February 27, 2025. Boston Consulting Group (BCG). "Returns May Be Declining, but Opportunity Is Calling." https://www.bcg.com/publications/2025/boosting-value-creation-in-telcos?utm_source=chatgpt.com
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Zwirglmaier, Kajetan & Zimm, Alexander. September 1, 2025. Simon Kucher. "Loyalty pays: Monetization insights from the Global Telecommunications Study 2025." https://www.simon-kucher.com/en/insights/loyalty-pays-monetization-insights-global-telecommunications-study-2025?utm_source=chatgpt.com
