The base numbers for itsmy are very impressive.
To recap, from Vince’s presentation
1 Mio+ reg. mobile users
16 Million Mobile Internet Downloads
5,761,000 Items User Generated Pictures Videos etc.
4.5 Million Wap sites
500 Million Pages/monthtraffic
However, there is an interesting insight which I will present in this blog. I got it in my talks with Vince on the way to Oxford before the conference.
In retrospect, it is obvious .. but it is an important point worth thinking about ..
Although we are facing a new medium(in mobile), the money comes from the same advertisers.
Advertiers are most familiar with TV as a medium which they understand best
Advertisers are still new to the mobile medium. In fact, they are still new to forms of advertising like on YouTube which involve user generated content
However, UGC as a medium for advertising is very powerful because the alternative is a legal minefield(the equivalant of Google posting ads against videos from movies on YouTube – the revenue so availed may need to be shared with the video rights owner)
Even on YouTube, advertisements are best placed against user generated content assuming – permission has been obtained and the content is moderated.
These two factors make Mobile (especially mobile social networks) a very powerful phenomenon because – for most part, they are free but also the reputed ones are moderated.
Consequently, if the medium(mobile social network) is designed to
a) Capture content in return for a free service and
b) That content is moderated and also
c) Presented in the form of channels(which can be a simple collection of the best cars on the site etc)
Then it is very appealing to advertisers assuming the base criteria are also met(critical mass, reach, personalization)
These factors play out even more on mobile devices since Mobile content is driven at the point of inspiration and the mobile device lends itsllf well to the capture of user generated content.
The above makes mobile social networks a unique and a powerful medium for adverisers