No wonder Bell Media, Rogers Communications and other major carriers are focused on monetizing the mobile platform with video content.

Canada’s wireless phone industry in 2010 spun off $43 billion in activity for the Canadian economy, UK-based Ovum Consulting reported Monday at the Canadian Telecom Summit.

The 45-page report commissioned by the Canadian Wireless Telecommunications Association indicated Canadians paid $9.31 billion for wireless phone services in 2010, the last year surveyed.

In addition, the fast-growing mobile phone industry contributed $18 billion to Canada’s GDP, and provided an additional $15.66 billion of “economic flow,” via suppliers in the supply chain.

Of course, monetizing video streaming on the mobile platform, a challenge for Facebook, Zynga and other major US digital platforms, remains elusive for Canadian carriers as well.

The Ovum release reported the mobile content business generated around $240 million in revenue in 2010, up from $227 million in 2009. That includes music, TV and gaming content.

“The majority of revenue is from the downloading of music and mobile gaming. Revenues from streaming music services and subscription TV / video services are very modest,” the study indicated.

Canadian Wireless Telecommunications Association (CWTA) president and CEO Bernard Lord, addressing the industry conference, reported half of Canadian mobile phone users own smartphones, and that by 2014 Canada will have over 30 million wireless phone subscriptions, up from 26 million currently.

From Playback Daily