For communications service providers (CSP) facing significant churn in traditional lines of business such as voice, the Internet of Things (IoT) provides tantalising opportunities to reverse their fortunes. At first glance, monetising IoT would appear to be a slam-dunk for the comms industry. After all, they control the networks that IoT devices must traverse. But if CSPs are to reap the financial rewards from the billions of connected smart objects, charging for connectivity alone won’t cut it. Nick Sacke explores different ways in which the channel can monetise IoT data and also, crucially, what steps CSPs need to take in order to ensure they have the skills and digital capabilities to take advantage of these new business models.