This document discusses the value of emerging markets in the mobile ecosystem. It finds that 15 key emerging markets like China, India, and Brazil already account for more mobile subscriptions than the rest of the world combined. These markets are expected to generate 30% of global mobile data service revenues in 2010, growing to 36% by 2014. Mobile advertising spending is also expected to be highest in Asia Pacific developing regions like China and India by 2015. While perceptions are that monetization is much lower in emerging markets, data shows eCPMs are only about 5 times lower than Western Europe, not 10 times as expected. The size, growth, and lack of other ad channels in emerging markets will make them prime opportunities for the mobile ecosystem.