A new report from Juniper Research says the worldwide Mobile Entertainment market was worth $33 billion (£20 billion) last year, with this figure expected to reach $54 billion in 2015. It says the rise will be driven by smartphone adoption and an increase consumer-oriented application downloads.
The combination of app stores and smartphones are described as having created ‘an unprecedented level of awareness and usage of services’ including social media, games, video and streamed music. Niche areas such as gambling and adult services have also grown.
Dr Windsor Holden, the report’s author, said “We’ve witnessed a quite dramatic evolution of the mobile entertainment market over the past few years, in terms of type of content, scale of content and how that content is monetised. The challenge for the players across the redefined mobile ecosystem is to recognise how best to leverage their strengths to ensure that their respective revenue streams are optimised.”
Mobile music is expected to remain the largest single contributor to mobile entertainment content revenues over the next five years. The Far East and China will account for the largest share of revenue, followed by Western Europe.
[White paper; report]