This paper will explore a few of the most important mobile messaging applications and the business models they are employing. It will argue that these applications can no longer be seen as mobile messaging applications, as they offer a far richer experience with far deeper user engagement than the SMS experience that they are replacing. These applications should be seen more as content distribution networks, and their ability to create relationships between users and content on mobile puts these applications in direct competition with Twitter and Facebook.
Part 1: The market is regionally fragmented, with WeChat dominating in China, WhatsApp in Europe and Latin America, and Facebook Messenger in the United States
Part 2: Mobile messaging is a uniquely volatile market, with growth driven in the early stages by teenagers and apps that do not lock in users
Part 3: Premium content, brand development, gaming, and in-app payments offer revenue generation possibilities
Conclusion: The companies