Some fascinating mobile messaging trends emerged in the third quarter. These trends included the use of messaging for social and political change and marketing, as evidenced by U.S. President-elect Barack Obama's successful mobile campaign, the use of mobile messaging for charitable donations, and a significant uptick in the use of mobile messaging by enterprises and financial institutions.
All told, VeriSign Messaging and Mobile Media Division's combined mobile messaging networks enabled more than 58.3 billion messages in Q3 2008, nearly a 10 percent increase from the previous quarter. VeriSign facilitated an average of approximately 634 million messages per day in Q3 2008, compared to approximately 572 million messages per day in Q2 2008 and approximately 280 million messages per day in Q3 2007. These record-breaking numbers provide additional evidence to support VeriSign's projection earlier this year that its combined mobile messaging networks will enable close to 200 billion total messages, worth more than $7 billion in revenue to VeriSign customers by the end of the year.
For the period of Jan. 1 - Sept. 30, 2008, VeriSign's combined mobile messaging networks delivered 153 billion total messages while providing 100 percent network availability. This represents a 142 percent increase year-over-year and puts the company on track to more than double last year's total of 95.9 billion mobile messages. VeriSign's network also set a single-day record during Q3 2008 by enabling 702 million texts over a 24-hour period and a one-hour record of 48 million messages on Sept. 5, 2008.
"Mobile messaging isn't just a technology, it's a behavior -- a cultural shift," said Charles Landry, vice president and general manager, products and innovation, for VeriSign's Messaging and Mobile Media division. "It has become an instrument of social and political change, philanthropy, and, to a growing extent, a great business practice for reaching out to customers. Enabling this cultural shift via VeriSign's network is a great responsibility. We look forward to enabling continued growth."
Among some noteworthy trends, charitable fundraising campaigns enabled by the Mobile Giving Foundation and powered by VeriSign have demonstrated new ways of leveraging the mobile channel to support a broad range of worthwhile causes including Stand Up 2 Cancer and Keep a Child Alive. The American Red Cross "Text 2HELP™" program, which helps provide food, shelter and other assistance to victims of thousands of disasters across the country each year, has been another successful example of how organizations encourage charitable donations through the use of mobility. The "Text 2HELP" program is coordinated by The Wireless Foundation and powered by VeriSign. In addition, law enforcement organizations such as the Boston Police Department continue to utilize text messaging programs to encourage the public to report crimes more easily and anonymously and ensure public safety.
Enterprises and financial institutions continue to show growing interest in mobile messaging. From Q3 2007 to Q3 2008, the total number of messages delivered rose from 129 to 227 million, marking a 115 percent increase. As SMS continues to mature into the preferred medium for mobile banking, VeriSign's Mobile Banking platform has seen a 35 percent increase in messaging traffic from Q2 2008 to Q3 2008. VeriSign expects to see these numbers grow significantly as its growing global mobile banking customer base now includes seven of the top 10 U.S. banking brands, three of the top five credit card issuers, and a global leader in online payment solutions.
Person-to-Person/Application-to-Person messages (P2P/A2P), such as news alerts, ring tones, promotional video clips, and enterprise messages sent to mobile users, also rose sharply in Q3 2008, from approximately 572 million messages in Q2 2008 to approximately 634 million messages per day, on average in Q3 2008, an increase of close to 10 percent.
VeriSign Messaging and Mobile Media offers one of the most robust, scalable and reliable mobile messaging delivery engines in the world, connecting to more than 600 carriers and reaching more than 2.4 billion wireless subscribers across carrier, enterprise, and media/entertainment networks. VeriSign's combined mobile messaging networks power inter-carrier mobile messaging for seven of the top ten wireless carriers in North America and many other major operators throughout the world. The network generates billions of dollars in revenue for its customers.
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About VeriSign Messaging and Mobile Media
VeriSign Messaging and Mobile Media is a division of VeriSign the trusted provider of Internet infrastructure services for the networked world. Through this business unit, VeriSign provides global application services that reliably delivers short-messages (SMS), multimedia messages (MMS), and mobile content across any wireless operator and mobile device throughout the world. As a leader in mobile messaging, mobile banking and mobile content delivery, VeriSign offers a broad portfolio of mobile infrastructure and delivery services. Offering reliable delivery, a worldwide presence, and rapid and effective deployment, VeriSign has built a trusted and respected brand with global mobile operators, media content providers and enterprises. The reach, reliability and value add of VeriSign services enable these companies to capitalize on the rapidly growing messaging and media content markets.
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Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2007 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.