Mobile entertainment industry confident in face of economic downturn
Published on: 19th Feb 2009
Note -- this news article is more than a year old.
The Mobile Entertainment Forum (MEF) has launched its first quarterly Business Confidence Index (BCI) for the USD32 billion global mobile entertainment industry. It reveals that the industry is confident it will continue to grow despite the economic downturn, with MEF members predicting an average revenue growth of 27% in 2009.
The MEF BCI, compiled in collaboration with KPMG, is the first of its kind and was undertaken to gauge the confidence of the mobile entertainment industry and to highlight specific trends over time. Every quarter it will survey MEF members across the globe, representing the entire mobile entertainment value chain.
"I believe that the BCI's positive outlook reflects ROI that our
industry expects to see in 2009 and beyond after almost a decade of investment
in mobile media. With growth anticipated across key segments of the industry,
MEF will be working with our members to help them capitalise on new
opportunities and address existing bottlenecks presented over the next twelve
months." said Rimma Perelmuter, Executive Director at MEF
As well as being optimistic about the growth of the industry as a whole, the MEF BCI identified a number of areas within mobile entertainment which are set to grow throughout 2009. The top five areas of growth were cited as:
- Social Networking
When asked whether demand for mobile entertainment consumption would be impacted by the credit crunch, over half of respondents said they saw mobile entertainment as a 'feel good' affordable purchase and it would therefore be resilient to the effects of the downturn.
The MEF BCI also reveals the spread of mobile entertainment revenues across the globe, with China and Central & South America being seen as hotspots over the next twelve months and respondents predicting growth in excess of 50% in both regions.
Andrew Bud, Global Chair of the MEF commented: "We believe that the quarterly BCI will make a great contribution to the industry, at a time when companies face great uncertainty in their forecasting and budgeting. It is an example of how MEF offers leadership in illuminating the status and trends of our industry. We appreciate the support of KPMG in running this large scale and highly confidential operation."