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Mobile Assets announces mobile entertainment division
Friday August 19, 5:34 pm ET
Market forecasters have predicted a boom in mobile entertainment
LAS VEGAS, Aug. 19 /PRNewswire-FirstCall/ - Mobile Assets Corp. (MBAP: OTCPK) announced today that it is forming a new operating division to focus on acquiring and distributing content for global mobile entertainment.
Commenting on the mobile entertainment market opportunity, Mobile Assets Vice President for Marketing, Garth Douglas said, "It would be a mistake to assume that mobile gaming is the only entertainment "game" in town. It is a giant market but in the strategic timeframe it will be dwarfed by other entertainment venues such as videos and music. It's important for Mobile Assets to understand the topography of the entire entertainment market and build a strong portfolio of products and services for all major entertainment market segments. We plan to leverage our existing entertainment inventory while we aggressively build our entertainment portfolio. Today's announcement is very important to the strategic success of Mobile Assets".
Peter Zmudzki, President stated, "Mobile entertainment is a huge market. Depending on which market forecast you consult, the estimates are in the range of 5 billion to 11 billion dollars until 2005-2007. Since early 2000, the market has grown by 10,000 percent up to now. Entertainment has evolved from TV, the computer and Internet to mobile handsets. Mobile entertainment has the advantage that it is very pervasive. The pervasive success of ringtones has obviously contributed to the recent excitement. The latest report suggests that the downloadable ringtone market will double to US$4 billion by 2008."
Research firm Informa Telecoms & Media estimates global mobile games revenues will be worth $2.6bn by the end of 2005, up $1.3bn from last year. Informa forecasts that by 2010 the global mobile games market will be generating annual revenues of $11.2bn.
In-Stat/MDR believes that mobile gaming, while remaining a niche market, will continue its rise as a key contributor to wireless data usage and revenues. The high-tech market research firm estimates that by 2009, mobile gaming services in the United States will generate US$1.8 billion annually, or approximately 4.4% of total wireless data revenues. Additionally, by 2009, 78.6 million wireless subscribers in the United States will play mobile games, and gaming downloads will increase more than tenfold from 2003 levels.
About Mobile Assets Corporation
Mobile Assets (OTCPK: MBAP) is an emerging company creating scalable and global mobile technologies and applications through aggregation and development. The company has expertise in mobile content marketing and distribution and intends to leverage that expertise into delivering strategically valuable mobile applications, content, and services to the market in unique ways to acquire and retain consumer Clients. For more information about Mobile Assets, visit its website www.mobileassetscorp.com or e-mail the company at info@mobileassetscorp.com.
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