Songfest: Mobile Entertainment To Hit $54B By 2014
Mobile entertainment will see near 20% average compounded growth --- with the bulk of the business coming from music -- by 2014.
Over the next three years, the global mobile entertainment market will rise to $54 billion, according to U.K.-based Companies & Markets.
Mobile music -- not video -- will still be the major driver, rising to $21 billion by 2014. In 2008, the study says mobile entertainment was a $19 billion business with $10 billion coming from music.
Although music will be a big generator, its compounded annual growth rate will move somewhat more slowly than the business overall -- at 13.2% rate versus an overall 18.8% for mobile entertainment.
While music will be ahead of video, video is growing rapidly, and will rise to $14 billion in 2014 from $2 billion in 2008.
Right now, the world's largest mobile entertainment market has been in Asia-Pacific, where more than half of global revenues are generated: 57% in 2009. Western Europe is next at 21%, while North America has a 13% share.
The research company says future growth will be driven by smartphones, high-speed mobile broadband networks, mobile apps and emerging markets.