It is for Verizon in comparison to CDMA. GSM is a little different.
LTE deployments signal new revenue for tower companies - FierceWireless
"Verizon, AT&T, U.S. Cellular and others are using 700 MHz for LTE, and one of the chief benefits of the low-banded spectrum is its strong propagation characteristics. The result is that carriers may need fewer tower sites to cover the same area."
Exactly: "One of the chief benefits of the low-banded spectrum is its strong propagation characteristics." It's the band where LTE is deployed, not LTE itself, that enables signals to travel farther. With any wireless technology, even broadcast radio and TV, signals travel farther at lower frequencies. That's just physics.
Going forward, LTE will use increasingly smaller cells in urban and suburban areas because a macrocellular architecture won't provide the capacity and speeds users want. VZW is one example: Light Reading - Verizon Ready for LTE Small-Cell Advance
Small cells create even more challenges for handset vendors because now users will spend more time on the fringes of cells simply because there are so many of them. So handsets have to be able to work well under weak signal conditions.
For operators, LTE's savings come more from things such as a flat network architecture. But some of that savings is offset by the CapEx and OpEx of backhaul for so many sites. A major operator today has 30,000 to 50,000 sites. With small cells, it's easily double.