Mobile media industry continues the trend of forecasting market growth
- Industry expected to grow by more than 20% over the next year
- Mobile media industry sees greatest opportunities for industry driven by adoption of smartphones and M-Commerce
- Greatest challenges to industry come from lack of consumer awareness, trust and fragmentation
23 June 2010, London – MEF’s first Business Confidence Index (BCI) of 2010, analysed by KPMG, continues to demonstrate the positive messages identified during 2009 in the overall confidence in the mobile entertainment market with quarterly growth projections. This reflects MEF’s 2009 projection that the value of the mobile media market would rise from $32 for 2009 to $36 billion for 2010.
Rimma Perelmuter, MEF Executive Director stated: “The BCI is the only survey to measure the sentiment of the global mobile media industry and since its launch, has demonstrated a clear trend of industry confidence. Growth projections peaked nine months ago at 33% and while we have seen a dropping off in growth projections since then, these latest findings show that industry still expects the market to grow by 23% over the next 12 months. Our industry has shown incredible innovation and robustness which the BCI clearly highlights.”
The latest findings enhance the global perspective of the BCI with unique insights into what industry sees as its future challenges and opportunities. Mark Harding, Director of Digital Content at KPMG, who analysed the survey findings, said: “The sector sees the greatest opportunities for market growth in the increasing popularity of smartphones and the availability of mobile payments for content and service billing. However, the challenges clearly mirror the opportunities, with consumer awareness & trust and the fragmentation of operating systems, platforms and handsets cited as the greatest market challenges.”
Andrew Bud, the Global Chair of MEF added: “Mobile media remains a growth market and MEF’s BCI once again provides some unique insights into where this growth is coming from. Our industry is showing greater optimism in its ability to create new business models that successfully monetise mobile media. Investment seems to be more carefully targeted. It’s crucial that the industry collaborates to get the environment right. MEF Initiatives and the MEF Guides to Enabling Services, published at MeM 2010, and M-Commerce, available in July, help lay the foundations for this future growth.”