The Mobile Entertainment Forum says mobile content industry revenues will grow by 28 per cent in 2010, driven by demand for apps and increasing maturity in Central and South American markets.

The MEF's fourth Business Confidence Index (BCI), is compiled by KPMG and based on a survey of the trade body's membership.

Its latest forecast is the fourth consecutive BCI growth prediction since January 2009.

Today's report predicts that 61 per cent of mobile content revenues for the next quarter will come from subscription and one off purchases.

The MEF says there's also consensus among respondents that applications will provide a substantial additional revenue source - half of the revenue projected to come from applications in the next quarter will be from paid apps.

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MEF Members can download the 4th BCI report here.

Andrew Bud, the Global Chair of MEF, said: “Our industry has faced a difficult period, but these latest findings clearly show that confidence in the growth of our industry has not diminished in the last year.

"Eighty-one per cent of respondents report that their actual performance for the last quarter was either better than or in line with budget, and viewed alongside the consistent and significant market growth predictions being made by our industry is very positive news as we move into a new year.”