Location-based social networking is projected to generate worldwide revenues of $3.3 billion by 2013, according to ABI Research. But the business model may not be advertising driven.
“Location-based mobile social networking revenues will reach $3.3 billion by 2013, but successful business models may differ from what many observers expect,” says ABI Research principal analyst Dominique Bonte. “While location-based advertising integrated with sophisticated algorithms holds a lot of promise, the current reality rather points to licensing and revenue-sharing models as the way forward for social networking start-ups to grow their customer base and reach profitability. Recent evidence: the agreements between GyPSii and both Garmin and Samsung. Similarly, Loopt has established partnerships with all major US cellular carriers.”
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