According to Juniper, the global market for Mobile Web 2.0 will be worth $22.4bn in 2013, up from $5.5bn currently. Embracing social networking & User Generated Content (UGC), mobile search and mobile IM (Instant Messaging), Mobile Web 2.0 provides a framework for delivery of collaborative applications, further enhanced and contextualised via LBS (Location Based Services).
Kenneth Corbin from Internet News recently wrote the following article on Internet Entrepreneurs and Social Networking sites like Perth’s very own Loconut:
It seems clear enough that the phenomenon of user-generated content (UGC) on the Internet has built enough momentum that it can no longer be thought of as a fad.
Yet the matter of how to make money from the galaxy of blogs, images and videos that people create and share in online communities is far from resolved.
And it grows all the more urgent to find an answer, as ever-larger mountains of venture capital are poured into start-ups built around the social and self-authoring features now widespread on the Web.
Not surprisingly, hearing entrepreneurs, investors and marketers grope for an answer to “What’s your business model?” many industry watchers are beginning to wonder whether the giddy wellspring of UGC plays is setting up the tech world for another spectacular collapse.
“UGC has prompted an investment gold rush to rival that of the dot-com explosion of the mid-1990s,” said media attorney Jeff Liebenson during a panel discussion here at New York’s Harvard Club, where executives from various corners of the interactive media world debated the issue.