Global mobile entertainment to reach $54B by 2014

Global mobile entertainment will boost from $19 billion in 2008 to $54 billion by 2014, Media Post reported.

The bulk of the business will come from music, which accounts for $21 billion over the next three years, up from merely $10 billion in 2008, according to U.K.-based firm Companies & Markets.

While music will be a big contributor, its compounded annual growth rate (CAGR) will be lower than the overall average for mobile entertainment, at 13.2 percent versus 18.8 percent, respectively.

Mobile video will grow fast from $2 billion in 2008 to $14 billion in 2014.

Asia Pacific is the world's largest mobile entertainment market right now, representing 57 percent of global revenues in 2009. Western Europe comes next with 21 percent, while North America follows at 13 percent.

The future growth will be driven by smartphones, high-speed mobile broadband networks, mobile apps and emerging markets, said the company.

Image: Ian Jones via The Telegraph