Leading Economists say Next-Generation Networks will Bring About
Major Benefits to Society
Healthcare Advances Enabled by Gigabit Speeds Could
Significantly Improve Patients’ Lives and Save Thousands of Euros
per Person per Year
A new report by the respected economists, Oxera, has revealed
how widespread access to internet speeds of at least 1 Gigabit per
second will lead to transformative changes in the way people across
Europe interact, socialize, work and stay healthy.
The report, commissioned by the leading converged video,
broadband and communications company, Liberty Global, details four
key areas in which the mass market rollout of Gigabit broadband has
the potential to dramatically improve lives: healthcare, commuting,
social interaction and the environment.
It predicts that many social and economic benefits will result
from the widespread rollout of Gigabit broadband, as increased
connectivity changes the way people interact with each other by
reducing frictions, which economists refer to as “transaction
costs”.
Manuel Kohnstamm, Senior Vice President and Chief Corporate
Affairs Officer for Liberty Global, said: “The expansion of Gigabit
speeds at scale across Europe is essential to the growth of the
economy and improvement of our daily lives, and the possibilities
that lie ahead with the next generation of broadband are truly
exciting. This report demonstrates how many areas of our lives
could benefit, from cutting edge technology and advances in
communications, to helping reduce CO2 emissions. And Gigabit speeds
are just the start – Liberty Global’s network that is already in
the ground across the continent will deliver speeds up to ten times
faster, opening up a world of limitless innovation.”
Oxera’s investigation reveals that healthcare practices could
benefit considerably from the increasing availability of Gigabit
speeds. It cites estimates from Eurostat, the statistical office of
the European Union, that 179 million people within the EU have
medical care needs that haven’t been addressed, with a quarter
saying it was due to a lack of time and a third saying cost was an
issue.
In such cases, Gigabit broadband enables applications such as
diagnostics-quality video streaming and sharing, which could allow
remote consultations, improving the chances of early diagnosis and
reducing costs and the need to travel. 24-hour stroke monitoring in
the home could also improve outcomes and save up to €35k per
patient per year.1
The report also investigates how next-generation networks will
change working habits, finding that the number of employees who
mainly work from home is only 6%, and that the majority of workers
still spend between 263 hours (The Netherlands) and 358 hours (UK)
commuting per year.
Gigabit broadband enables applications such as holographic
conferencing and augmented reality presence, which means
professionals can collaborate without having to travel. Oxera
estimates that commuters could save between €1,651 (Poland) and
€5,380 (Ireland) travelling each year.
Alongside healthcare and work, social interactions could be
improved considerably with Gigabit broadband. More realistic remote
interactions with friends and family through VR and holographic
presence will help alleviate loneliness and isolation.
Additionally, Gigabit broadband can help people overcome physical
or geographical limitations to enjoy immersive experiences of live
sporting or community events.
The report also reveals how Gigabit broadband can help in the
fight against climate change. With average annual emissions from
commuting ranging from 1.2m tonnes per year (Ireland) at the lowest
end to 19m tonnes per year (Germany) at the highest, making more
connections virtually rather than physically can reduce carbon
emissions from transport. Opportunities also exist in VR learning,
VR tourism and home working to substantially reduce carbon
emissions from travel.
David Jevons, Partner at Oxera, said: “Connectivity is a
critical enabler at the heart of digital transformation.
Gigabit-capable networks can help reduce the transaction costs that
our report identifies, powering the applications that unlock
benefits across society. The internet has changed the way we live,
and the advent of widespread Gigabit speeds will once again bring
transformative changes to our lives.”
Oxera’s findings come as Liberty Global continues its rollout of
“GIGACities” across Europe, making Gigabit speeds available to
millions of customers. In the past few months alone, its operating
companies have switched on Gigabit broadband throughout
Switzerland, Brussels and Flanders in Belgium, Utrecht in the
Netherlands, as well as Southampton and Manchester in the UK.
Those rollouts follow 12 Polish cities, including Warsaw, Kraków
and Gdańsk, and three cities in Slovakia, where Liberty Global has
made Gigabit connections available at scale. More GIGACities are
set to launch in the coming months and throughout 2020, as Liberty
Global continues to lead the next-generation broadband revolution
across Europe.
To find out more, go to:
https://www.libertyglobal.com/oxera-report
ABOUT LIBERTY GLOBAL
Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is one of the
world’s leading converged video, broadband and communications
companies, with operations in 6 European countries under the
consumer brands Virgin Media, Telenet and UPC. We invest in the
infrastructure and digital platforms that empower our customers to
make the most of the digital revolution.
Our substantial scale and commitment to innovation enable us to
develop market-leading products delivered through next-generation
networks that connect 11 million customers subscribing to 25
million TV, broadband internet and telephony services. We also
serve 6 million mobile subscribers and offer WiFi service through
millions of access points across our footprint.
In addition, Liberty Global owns 50% of VodafoneZiggo, a joint
venture in the Netherlands with 4 million customers subscribing to
10 million fixed-line and 5 million mobile services, as well as
significant investments in ITV, All3Media, ITI Neovision,
LionsGate, the Formula E racing series and several regional sports
networks.
For more information, please visit www.libertyglobal.com.
1 Cost savings for each stroke patient treated by the HS Cumbria
and Lancashire Cardiac and Stroke Network’s on-demand telemedicine
programme in the UK, which requires stable, high-speed broadband
connections.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191106005115/en/
Investor Relations: Matt Coates, +44 20 8483 6333 John
Rea, +1 303 220 4238 Stefan Halters, +44 20 8483 6211 Corporate
Communications: Bill Myers, +1 303 220 6686 Matt Beake, +44 20
8483 6428
Liberty Global (NASDAQ:LBTYK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Liberty Global (NASDAQ:LBTYK)
Historical Stock Chart
From Apr 2023 to Apr 2024