The document summarizes the presentations from the 5th Mobile VAS Conference in November 2008 in St Petersburg, Russia. Ralph Simon, Chairman Emeritus of MEF Americas and The Mobilium Group, discussed new trends in rich media for mobile phones and what will drive increased usage of value-added services in 2009-2010. Examples of major drivers of revenue included SMS competitions, mobile advertising, mobile magazines, and mobile episodes of TV shows. The document also discussed the growth of mobile internet use and mobile advertising revenues.