The traditional business model of tower management companies (TMCs) has focused on operating tower assets, essentially owning towers and leasing vertical space to telco carriers. While this model continues to be sustainable, there are disruptive forces in the market that are presenting new opportunities and attracting the attention of tower companies, which in turn must adapt their business models to offer even stronger value propositions to their clients. This report analyzes the tower management business model, presenting recommendations to ensure the viability of tower companies as they navigate a highly dynamic, continuously evolving market.