US telecom and pay-TV service revenue to rise to $419.4bn by 2024

US telecom and pay-TV service revenue to rise to US$419.4bn by 2024, says GlobalData

Total telecommunications and pay-TV service revenue will reach US$404.5bn by the end of 2019, representing a 0.5% decline over 2018, says GlobalData, a leading data and analytics company.

Ivan Maldonado, Technology Analyst at GlobalData, comments: “Despite this decline, which is mainly due to declining revenues from mobile and fixed-voice data communications, total service revenue is expected to increase at a compound annual growth rate (CAGR) of 0.7% between 2019 and 2024 to reach US$419.4bn by 2024 driven by growth mobile broadband and fixed broadband revenues.”

“Mobile data will remain the leading contributor to telecom service revenue over the forecast period, increasing from US$131.2bn in 2019 to US$194.6bn in 2024. Growth will be supported by the uptake of smartphone subscriptions, increasing demand for mobile data services, and growing adoption of 5G services.”

Fixed broadband revenue will expand at a CAGR of 4% over the 2019-2024 period, reaching US$78.5bn in 2024. Growth will be mainly driven by increased adoption of ultrafast broadband service connections, supported by operator investments in fiber infrastructure across the country.

Maldonado adds: “Pay-TV revenue will drop from US$94.4bn in 2019 to US$84bn by 2024 as a result of cord-cutting trends.”