In its latest report on mobile entertainment market, Juniper predicts that revenues will rise from $33 billion last year to $54 billion in 2015. Companies in the sector have growing smartphone adoption to thank for the increase in downloads of consumer-oriented apps.
More precisely, Juniper said that the combination of app stores and smartphones had created an “unprecedented level” of awareness and usage of services such as social media, games, video and streamed music. The same trend has also prompted interest in mobile channels from major brands, which are allocating increasing proportions of digital budget to mobile.
The report author Dr Windsor Holden thinks that we are witnessing a “quite dramatic evolution of the mobile entertainment market.” He goes on adding: “The challenge for the players across the redefined mobile ecosystem is to recognize how best to leverage their strengths to ensure that their respective revenue streams are optimized.”
Other findings from the report include:
- Despite the erosion of the ringtone market, mobile music will remain the largest single contributor to mobile entertainment content revenues over the next five years.
- The fastest growing product sector will be mobile gambling and social media.
- Far East & China will continue to account for the largest share of revenues, followed by Western Europe
As usual, additional information about the report titled “Mobile Entertainment Strategies: Markets, Opportunities & Forecasts 2011-2015” is available from Juniper’s website.