BCG – Telco Value Creators Report, 2024

The 2024 Telecommunications Value Creators Report by BCG highlights the top-ranked companies in the industry and their paths to success. These companies have defended their core business, invested in network upgrades, controlled costs, and utilized AI. Despite a median annualized total shareholder return of 6% from 2019 to 2023, telcos underperformed compared to the global stock market index. The industry faced challenges such as stagnant revenue and patchy returns from investments in 5G technology. Telcos' stable returns reflect their utility-like characteristics, leading to performance below the market average in strong years and outperforming in challenging years. The report emphasizes the need for telcos to adapt to changing market conditions and embrace strategies for long-term success.