Carrier spend on macro sites is up year-over-year when compared to 2017, which was up from 2016. So at least with regard to the 40,000 towers that we have, those macro sites were predominantly focused in the top 100 markets in the United States.
The carriers spend and the investment in macro sites to further improve their networks has actually grown over the last several years. We’re not seeing anything that would suggest that that dynamic is going to change.
At the same time, the carriers have obviously significantly increased the amount of spend on small cells. So, the growth rates there over the last several years are well in excess of the growth rates that we’ve seen on macro sites.
So I don’t know that it’s to the detriment of towers because towers have continued to grow, but it is a fair point that there has been a meaningful allocation of their capital dollars and network improvement focus that is going to small cells.
And we think that that focus on small cells is going to continue to increase particularly geographically and density wise in the markets that they’ve already deployed those.
This is an excerpt from a transcript of comments made by Jay Brown, president and CEO, Crown Castle International, during the company’s second quarter earnings call.