FCC's Latest Universal Service Monitoring Report Shows Revenue Declines

The FCC released the 2024 Universal Service Monitoring Report, providing an overview of revenue in the U.S. telecom industry and associated contributions to universal service support. Released this week, the report shows a steep drop in some sources of revenue. Local exchange revenue was $12.3 billion in 2023, down from $30.5 billion in 2014. Local private line revenue declined from $31.2 billion to $19.1 billion during the same period. Total telecom revenue fell from $228.5 billion in 2014 to $116 billion in 2023. The tables are based on information filed with the commission in FCC Forms 499-A and 499-Q.