Well that’s a no brainer. We’ve spoke countless times about mobile media here at Seed Corn Advertising (Let It Grow!), and it seems that we’re not the only ones that believe it’s the wave of the future. I recently read an article by Wayne Friedman over at OMD, (check out the whole article here), and according to IE Market Research Corp., global mobile revenues will hit $54B by 2016.
That’s some serious cash. Freidman goes on to say:
“Vancouver-based IE Market Research Corp. expects mobile entertainment revenues to climb to $53.9 billion by 2016 from $39.6 billion in 2011, which is a compounded annual yearly growth rate of 6.3%. Looking at specific areas, the survey says global music revenues will be a particularly fast-moving category — doubling in four years from $9 billion in 2011 to $18 billion in 2016. It forecasts that India will be a rising market — with total revenue in mobile entertainment almost tripling, rising to $1.79 billion in 2016 from $670 million in 2011. That represents a compounded annual growth rate of 18.2% for those four years.”
India is definitely a rising market too. In working with a friend on various business plans, it seems that they are not only an emerging market, but they are trying to catch up to current technologies. Granted, most of India isn’t as affluent as some more developed regions of the world, but that hasn’t stopped them from adopting cell phones. Katrin Verclas suggests, “There is no doubt that mobile technology has revolutionized communications worldwide, with over six billion active subscriptions, according to the GSMA, and with Africa and India experiencing growth in mobile accessibility and availability that is unprecedented.” With places like America, Japan, and Europe all ahead of the curve, the rest of the world simply needs to catch up. The cool thing for people like Vodaphone, Google, etc., is that they get to learn from all the miscues that we’ve already made. India already has subscription services for text-a-day services in a variety of verticals. With more and more people getting access to mobile communication, and as technology improves, the opportunities are limitless for content developers, advertisers, and marketing firms.