Diversification seems the way forward
Crown Castle was cited as an example of asset class diversification in a Communications Today article, which discussed the high demand for "fiber-to-the-small-cell." "Crown Castle in the US has acquired many fibercos – including Lightower, FiberNet, and NextG – to provide a network of inter-city fiber and small cell sites in urban and suburban cities. When demand surged last year, Crown Castle sold many co-locations in bulk and continues to win additional contracts." The article also noted that, "Crown Castle expects to generate as much revenue from small cells as it generates from towers."