"There is an enormous opportunity" for display and banner ads promoting movies, TV shows, autos and restaurants in specific areas, says Jason
Spero, gm of North America for mobile-advertising network AdMob.
A lot of growth is taking place in cities and developing countries, particularly among young people who cannot afford
PCs. "Mobile social networks have become a way of life for young people, especially for those who like to play social games," says Doug Bewsher, CMO of mobile-only social network Mig33.
Not to throw cold water on a hot trend-in-the-making but Tim Chang, a partner at venture-capital firm Norwest Venture Partners, points out that actual ad revenue on mobile devices doesn't have much of a track record. "It has been a failure until now," he says.
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