According to Frost & Sullivan via MocoNews, growth in off-deck mobile content will result in content aggregators seeing revenues of $167.7 million in 2011.

This is a pretty pathetic figure given what I know of the current value chain and revenue share splits.  Assuming this is top line revenue, the aggregators are seeing no more than half that figure and from what I know about the VC community, nobody will want to invest in a business whose total market size is less than $100 million in five years.  And even if this is bottom line (after revenue sharing), it is still an awfully small business.

The winners in this space will be those who have additional sources of revenue — like advertising and licensing. In the spirit of full disclosure, my company, Handmark, competes in this space.