Ralph Simon, Chairman Emeritus & Founder, Mobile Entertainment Forum-Americas, today provided a glimpse of ‘mociology’, the study of peoples’ lifestyle using the mobile phone and ‘mosionomics’, the study of business opportunities and models opening up in the mobile platform.
Giving the keynote address at the FICCI-FRAMES 2008 session on ‘Mobile Entertainment: Opportunities in emerging business models, Mr. Simon said: “Web business models have come to dominate the mobile space, where content and services will drive growth. Operators, therefore, need to support and add value and collaborate very closely with mobile specialists,” adding, that Bollywood fans will see cross-platform experiences of their movies, stars and content.
He said the new content formats are the future of the entertainment industry and therefore looking at mobile from a purely licensing perspective will not maximize value and sticking to old technologies will kill laggard companies.
The traditional media players, Mr. Simon pointed out, would have to enable their established assets to serve the digital media channels as well, and their success will be measured by timeliness, access, targeting and real-time measurability.
“Smart cross-platform marketing will drive growth. Entertainment companies will need to reach out to consumers wherever they are and advertising money will shift to one-to-one marketing,” he said. There will be revenue generating opportunities for all, Mr. Simon said, adding that new enablers are breaking through and therefore content and services will fit better if they are tailor-made.
The new drivers for the mobile business will emerge from consumers having adopted a digital lifestyle and content and services. The icing on the cake is that the advertisers will foot the bill, he said.