Social and Mobile to Drive Communications Industry Growth
The future of the communications industry revenue is heavily dependent on the social and mobile channels as growth vehicles. PQ Media analysts say that these sectors already account for over 4.1% of industry revenue. To calculate the impact of social and mobile channels, the company recently analyzed 44 revenue streams to determine the avenues of fastest growth.
PQ Media analysts segregated the social and mobile channels into the following 3 broad categories:
- Mobile advertising and marketing — This is the fastest growing group and accounted for $3.39 billion in revenue last year. In-game, search and video are the revenue streams growing most quickly in mobile.
- Mobile content/access – This sector is called the largest with $39.2 billion in revenue for 2011. PQ Media has broken spending here into 2 categories, business and consumer. The business segment is larger at 58% and accounts for $22.74 billion.
- Social media — This group includes social networks, blogs and podcasts. This is also the smallest group in the study and accounts for $2.83 billion in annual revenue. Most of the revenue is generated by social networks, $2.28 billion. The social network sector is also the fastest growing in this group.
Patrick Quinn, PQ Media CEO, believes the mobile media sector will reach the $100 billion mark in 2015. This phenomenal increase will stem from more use of tablets and smartphones, additional mobile content releases, and general interest in the channel by consumers and businesses. Currently, only 11 mobile and social media streams have annual revenue exceeding $1 billion annually. By 2016, at least 23 of these streams will reach the $1 billion mark.[Source: New PQ Media Forecast. Pqmedia.com. 30 Jan. 2012. Web. 17 Feb. 2012]