By Mike Mills, Managing Director, Service Providers at Gamma
In this blog, Mike covers:
- Why launching an MVNO is becoming easier than sustaining one.
- Why route to market matters as much as the proposition itself.
- What operators are getting wrong about international expansion.
- Why differentiation is becoming harder as ARPU pressure grows.
- What long-term MVNO growth requires in 2026.
MVNOs World 2026 brought together a market that is moving quickly, but what stood out most to me this year was the shift in emphasis.
There was noticeably less noise around travel eSIM propositions and far more focus on how providers evolve, from AI and operating models through to long-term value creation. The conversations felt more grounded this year. Less about launch, more about sustainability.
That maturity in the discussion was interesting to see. Launching an MVNO is one thing, but building a proposition that can grow, adapt and remain commercially relevant is much harder.
Across conversations, panels and keynotes, the recurring questions were less about market entry. Instead, it was more about what it takes to build something distinctive and commercially resilient in a changing market.
For us at Gamma, it reinforced a view we have held for some time: long-term MVNO success depends on far more than a competitive commercial proposition. It’s understanding the route to market, the customer and the conditions needed to scale sustainably.
Three shifts that say a lot about where the MVNO market is heading
- Global success starts with local market understanding
Expanding into new markets remains a major ambition for many MVNOs, but the conversations at MVNOs World made it clear that international growth is rarely straightforward.
As I touched on during the panel, the operators most likely to succeed aren’t the ones copying and pasting a model into new territories. Successful operators understand local regulation, customer expectations and commercial realities well enough to adapt with confidence.
That’s a challenge we’ve spent a significant amount of time understanding for our partners and customers. We’ve dedicated regulatory teams focused on monitoring local requirements and ensuring the right paperwork, collateral and supporting materials keep pace.
Global success depends on getting the local detail right. It isn’t easy to maintain, but it’s critical to long-term growth.
- A compelling proposition means very little without a clear route to market
One of the risks in this space is spending too much time refining the proposition and not enough time thinking about how customers will find, understand and buy it. That matters even more in a market where customer behaviour can change quickly.
As Giffgaff’s keynote highlighted, mobile services are becoming more digital and increasingly shaped by customer habits rather than traditional buying behaviour. For MVNOs, that makes go-to-market strategy a central part of the model, and not just another stage in the process.
Several sessions pointed to verticals such as fintechs and neo-banks as strong examples of this. The proposition works because it’s aimed at the right audience and supported by a route to market that feels natural to the customer.
The strongest MVNOs are building relevance and looking beyond just building products.
- Differentiation must do more of the heavy lifting as ARPU comes under pressure
Differentiation came up repeatedly across the event, often alongside conversations around ARPU pressure and the growing complexity of OSS integration and evolution. That combination is making life harder for MVNOs relying on a relatively standard offer or a marginal pricing advantage.
More providers are realising that price alone is becoming harder to sustain as a strategy. In a crowded market, standing out requires a much clearer understanding of who the proposition is for, what value it adds and why that matters to the customer.
The operators building real distinction into their proposition and staying close to genuine customer needs will be better placed to protect value and build long-term momentum.
What sustainable MVNO growth really takes
I was pleased to join a panel discussion on MVNO Scale Up Strategy: Building Growth without Losing Stability, hosted by James Gray of Graystone Strategy, alongside Gabriele Tubertini, Participated Business Director at Coop Italia, Gary McCready, Commercial and Strategy Director at iD Mobile at Currys Plc, and Nikolaj Jensen, Director of Product Management at Enghouse Networks.
What made the discussion particularly valuable was the range of perspectives on what scale-up actually means in practice. For some, it’s still closely linked to distribution and the role established retail channels continue to play in helping MVNOs reach customers at pace. For others, the priority lies in operational complexity, especially when expanding internationally.
It was also interesting to hear the different perspectives around thin versus thick MVNOs. There still doesn’t seem to be a universally understood industry definition, which makes clarity in positioning even more important.
My key takeaway from the discussion was simple: scale only creates long-term value when the operating model behind it is robust, commercially viable and built around a clear understanding of the customer.
What comes next for MVNO growth?
What this year’s event reinforced is that the opportunity in the MVNO market remains strong, but long-term success will become harder to sustain through pricing or launch speed alone.
The next phase of growth will be driven by brands that understand their customer properly, choose their route to market carefully and build propositions designed to stay relevant as the market evolves.
For Gamma, that remains the focus. We’re looking beyond short-term momentum, and instead helping MVNOs build for long-term success.
Quick Answers: What MVNOs Need Now: Focus, Differentiation and a Clearer Route to Market
What are the biggest challenges facing MVNOs in 2026?
The biggest themes discussed at MVNOs World 2026 included differentiation, ARPU pressure, OSS complexity, customer acquisition and the challenge of scaling sustainably across multiple markets.
Why is route to market becoming more important for MVNOs?
As customer behaviour changes, MVNOs need stronger digital distribution models and propositions that feel relevant to specific audiences. A good product alone is no longer enough.
What makes an MVNO successful long term?
Long-term MVNO success depends on more than pricing. Operators need a clear customer proposition, strong operational foundations, market understanding and a sustainable route to market.
