Service revenues from mobile entertainment services will reach as high as $54 billion in 2015 from $33 billion last year, a report from Juniper Research said.
The surge will be driven by an increase in the adoption of smartphones and an increase in the download of consumer-oriented applications, the report added.
Juniper Research further said 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.
At the same time, the transition from the “walled garden” business model to an open mobile Internet had created greater opportunities for content providers in niche areas such as gambling and adult services.
In addition, the report noted that the rise in consumer adoption of rich media content had prompted unprecedented interest in mobile channels from major brands, which are allocating increasing proportions of digital budget to mobile.
As a result, content providers in particular are benefitting from the additional revenue stream created through in-app advertising.
The report further said mobile music will remain the largest single contributor to mobile entertainment content revenues over the next five years, while the fastest growing product sector will be mobile gambling, followed by social media.
On a regional basis, the Far East and China will continue to account for the largest share of revenues, followed by Western Europe.