Former Universal Pictures mobile boss Jeremy Laws has been crunching the numbers.
While mobile advertising networks love to boast about how many billions of ads they've served, they tend to talk less about how much money they're making from those ads.
Some reputable speculation comes courtesy of Jeremy Laws, former head of Universal Pictures' mobile entertainment division.
On his own Cabana Mobile blog, he's taken monthly unique visitor data from a recent Nielsen study of the six largest US mobile ad networks, and factored in his own estimates of ad views and CPMs to come up with guesstimates of revenues.
Based on "fantasyland" $15 CPMs, he suggests that largest network Millennial could be generating $4.38 million of revenues a month, although at a "realityland" eCPM of $1.75, it would be more like $0.51 million a month.
Laws has similar projections for Third Screen, AdMob, MSN, Jumptap and Quattro, although this is all based purely on mobile web ads, and doesn't include in-app advertising.
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"If these assumptions are correct... or even close to it (and my model isn't broken)... then, as you can see, these companies still have pretty nascent businesses," he says.
