According to PricewaterhouseCoopers, the Russian mobile advertising market reached $27 million in 2008, reported business newspaper Vedomosti. The market is expected to increase to $31 million in 2009.
Most of mobile ad spending in Russia go to WAP sites and mobile marketing. Mobile internet advertising consist of spending on advertising delivered to mobile phones via text messages, display ads, video ads, local search, and other formats designed for mobile handset screens.
The leading Russian mobile advertising service MobileDirect raised funding from Ru-Net last year. In September 2008, Phonevalley, part of Publicis Groupe, launched operations in Russia.
In comparison, the mobile advertising revenues in the U.S. and Canada were estimated at $208 million in 2009 by Parks Associates.