Following up on this story where I point out that Bell is slashing jobs, not rolling out fibre and scaling back their speed offerings, and selling radio stations along with slashing jobs at what used to be called The Source, Bell also reported their Q4 and full year results. You can read that here, but here’s the TL:DR:
- There was a a 3.9% increase in wireless service revenue as Bell got 170,831 net subscriber activations.
- There were 55,591 retail Internet net subscriber activations in Q4. Which according to Bell is the second best Q4 result in nearly two decades.
- Bell’s net earnings fell by 23.3% to $435 million in the quarter.
And whose fault is that that their earnings fell 23.3%? Here’s who Bell blames:
While it’s clear that we are continuing to execute with discipline in a competitive marketplace, we need to take additional measures in response to increasingly unsupportive federal government and regulatory decisions, legacy business declines and a macroeconomic environment with higher interest rates and continued inflation. As our business is hampered by regulatory decisions that discourage investment, we are slowing the pace of our network expansion and capping fibre speeds.
Really Bell? I find it hard to be sympathetic when they still made money. And I find it even harder to be sympathetic when Bell decides to slash all these jobs after they finish their “Bell Let’s Talk” mental health campaign. Because slashing these jobs is sure to cause some mental health issues for those who are losing their jobs. But maybe I am looking at this wrong?
In any case maybe Bell needs to better “execute with discipline” given the environment which includes an “increasingly unsupportive federal government and regulatory decisions”. That might make their balance sheet look better. But again, maybe I’m looking at that wrong as well.

Rogers Has An Opportunity To Fight Back Against Bell…. But They Likely Won’t Take It
Posted in Commentary with tags Bell, Rogers on March 2, 2024 by itnerdRecently, Bell was told by the CRTC that they had to open up their fibre networks to companies like Teksavvy so that in theory it would result in lower telco prices for Canadians. Bell in response acted like a two year old having a hissy fit and stopped rolling out fibre and dropping their 8 Gbps tier from being available for customers to get. Not that anyone needs speeds that fast. As a result, Bell’s decision to throw their toys out of the baby carriage has created is an opportunity for Rogers to step in and fill the void.
No. Seriously. Hear me out on this one.
Frequent readers of this blog will know that I have been extremely critical of Rogers. This organization has some serious issues that keep it from competing with Bell. Especially when it comes to the speed of their Internet offering where Bell has been putting the screws to them for years. But with Bell’s decision to hold Canadians hostage because they don’t like what the CRTC has said, Rogers could do the following to put the screws to Bell:
Now those bullet points are good. But the problem is that Rogers is unlikely to action these. I say that because they have to solve their stability problems. For example, their inability to keep a DNS server working that I mentioned earlier. But the real issue is that Rogers no longer seems to be the type of organization that would be willing to do any or all of this. Right now, Rogers seems willing to tread water and not push the envelope in any way. There seems to be no willingness on their part to innovate or even simply say “we can put Bell into the hurt locker if we do these things”. That seems to be a cultural thing at Rogers. And without a change in the culture at Rogers, mediocrity will rule the day. Thus they won’t leverage this opportunity that’s basically been handed to them on a silver platter.
Now I am free to be proven wrong by Rogers. And I would like to be proven wrong as Rogers doing these things might make Bell rethink their life choices and restart their fibre rollout as they might be afraid of Rogers taking market share from them. And that benefits Canadian consumers at the end of the day. So Rogers, I challenge you to put the screws to Bell. Let’s see what you’ve got.
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