[mdda]

LTV normally incorporates churn as part of the calculation. If it didn't then unless you have a time-value-of-money discount in there, the LTV of a customer would be infinite. Perhaps you're positing that the LTV refers to the actual physical Lifetime of a customer - but, statistically, that just turns into a churnrate too (sad to say, even 100% of a consumer's lifetime is more than a 0.5% churn rate spread across the whole population).

[prostoalex]

Thanks for the clarification, makes sense.