Virtual Network Operations (VNO) represents an enormous opportunity for telecommunications on a medium to longer term basis. With margins continuing to erode for core bearer services, network operators of all type must offer value-added services (VAS) for profitability. The VAS applications will tend to be those offered by various third parties in a VNO environment facilitated by Service Delivery Platforms (SDP) and an open IP Multi-media Subsystem (IMS) service creation and delivery framework. Mind Commerce research indicates suggests operators that prepare for this now will not be caught off guard and relegated to increasingly diminished margins and low revenue growth. Instead, incumbent operators that embrace this model and form partnerships now, will be in a better position to evolve those relationships to fully leverage the open telecommunications environment of the future.