Crown Castle's revenue shrank. American Tower's grew
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What the chart shows
SpaceX's plan to become America's fourth phone company knocked T-Mobile and AT&T on Friday and lifted the companies that own the towers. Bloomberg reported that SpaceX is in talks for access to US cell sites, with Crown Castle among the owners involved.
The two tower owners arrived at that news on different paths. American Tower's yearly revenue climbed from US$10.0 billion in 2023 to US$10.6 billion in 2025. Crown Castle's slipped from US$4.7 billion to US$4.3 billion over the same years, and most of its rent comes from the three carriers SpaceX would compete with.
Nothing is signed yet. Truist analyst Matthew Niknam pointed out that talks can end without a lease, and the Federal Communications Commission still has to approve SpaceX's purchase of Grain Management's airwaves.
The story behind it
T-Mobile and AT&T fell almost 8% after a report that SpaceX wants 80,000 cell sites Read the edition →AT&T on the calendar
Next results: date to come. It goes on the calendar as soon as AT&T announces it. Economic calendar →The numbers
Yearly revenue of the two tower owners in the SpaceX cell-site story, in US$bn, 2023 to 2025. Crown Castle went from 4.7 to 4.3; American Tower from 10.0 to 10.6.
| Crown Castle | American Tower | |
|---|---|---|
| 2023 | 4.7 | 10.0 |
| 2024 | 4.5 | 10.1 |
| 2025 | 4.3 | 10.6 |
How we make these charts: one chart a day from a story in the edition, drawn from the figures the story names and checked against the sources named on the chart before it is published. General information only, not financial advice.
