Telefónica's global revenue 2012-2023, by country

Telefónica's global revenue has fluctuated since 2012, with a dip in 2014 due to the Eurozone Crisis. Each region shows different results, with Spain seeing its lowest revenue in 2020 since that recession as a result of the coronavirus (COVID-19) pandemic. In 2023, revenues generated in Spain amounted to 12.65 billion euros, a sizable share of the company's revenue worldwide.

More mobile contracts

The firm's revenue depends greatly on mobile users. The number of Telefónica's subscribers has been changing, with a general shift away from prepaid plans towards contracts. However, also important if the average revenue per user, which varies depending on both the location and type of user. For example, the average postpaid user in the United Kingdom generates roughly ten times the revenue of a prepaid Brazilian user.

The power of the market

However, market forces also influence Telefónica's revenues. The forecast for global spending on telecom services is fairly stable, but the composition of the market is constantly changing. For example, with the rise of streaming services, the number of Telefónica's pay TV subscribers can be expected to decline, while demand for faster internet connections is likely to increase.