The findings of the latest MEF Business Confidence Index (BCI) on the $32 billion global mobile entertainment industry has shown that the industry remains confident despite the current economic challenges, predicting average revenue growth of 28 per cent for the coming year.
Commenting on the findings, Andrew Bud, Global Chair of MEF, said: "In spite of an incredibly difficult economic landscape, the prediction for average revenue growth in the mobile content sector is up 1 per cent on the annual growth prediction from the last BCI to 28 per cent. This echoes the finding that 81 per cent of respondents are as confident about the future of their organisation as they were at the end of last year."
The analysis also shows that the 'marketing mix' of communication channels within the industry is evolving. Mark Harding, Director of Digital Content at KPMG, added: "The revenue growth and confidence shown by the sector proves that, despite tougher economic times, consumers are still prepared to spend money on mobile content. The coming of age of the smart phone has no doubt helped to support this, by improving the customer experience and access to exciting mobile applications.
"More organisations in the mobile entertainment value chain are moving their marketing budget towards the industry's own platform of mobile, at the expense of online and sponsorship and events. However, the mobile entertainment industry's marketing budgets remained constant over the last quarter and are predicted to remain so over the next, with 87 per cent predicting their marketing budget will remain the same or increase."