Cumulative mobile application revenues are on pace to exceed $30 billion worldwide by the close of 2012, nearly double the total reached at year-end 2011, ABI Research reports.
Foursquare is struggling to attract investor interest in the wake of declining growth and social networking giant Facebook's discouraging IPO, The Wall Street Journal reports.
The average selling price of all downloaded smartphone applications (both free and paid) will fall to just 8 cents by 2017, according to a new Strategy Analytics forecast.
Motricity is parting ways with interim CEO Jim Smith. Richard Stalzer, president of Motricity's Voltari mobile media unit, is now CEO; in addition, Chief Financial Officer Nathan Fong will continue in that position and assume Chief Operating Officer duties, while General Counsel Richard Sadowsky has also been named Chief Administrative Officer.
Millennial Media reported third-quarter revenues of $47.4 million, up 88 percent over revenues of $25.2 million a year ago.
Mobile local advertising revenues across the U.S. are projected to increase from $664 million in 2011 to $5.8 billion in 2016--a compound annual growth rate of 54.2 percent--forecasts media advisory firm BIA/Kelsey.
Motricity reported third-quarter 2012 revenues of $23 million, down from $24.8 million in the year-ago quarter but up from $22.2 million in the previous quarter.
Facebook is enabling mobile advertising partners to roll out campaigns targeted to specific operating systems and device platforms, allowing developers and brands to launch campaigns geared to specific demographics within the iOS and Android ecosystems.
Apple will launch an ad-supported streaming radio service optimized for iOS devices within the first three months of 2013, Bloomberg reports.
Zynga is developing its own advertising platform in an effort to boost revenues but also to enhance the social gaming network's appeal to third-party developer partners, All Things D reports.