Just came across this article on TechCrunch quoting a study by eMarketer.com on where time spent on Mobile about equal to time spent on Newspapers & Magazines combined.
My POV: If you consider that Newspaper advertising revenue for 2009 was $27.6B according to the Newspaper Association of America and Magazine advertising revenue for 2009 was $21.15B according to the Magazine Publishers Organization. In comparison, the mobile advertising market was estimated to be $416M according to eMarketer.com. It is safe to say that dollars, following eyeballs, will be following consumers to this new medium.
How fast will this happen? Considering that Internet advertising spend still hasn’t reached parity with TV spend after nearly 15 years, mobile will also take a while too. The mobile advertising space is still in its infancy and will require a lot of resources, cooperation, learning, and measurement/analytics to unlock its value.