The top four U.S. carriers saw data revenues grow a collective 8 percent in the third quarter, almost making up for the decline in voice revenues. The latest data was contained in a pair of new reports that also predict wireless data and content will continue to thrive even as the economy worsens. “It is likely that more people will be willing to downgrade their internet services, wireline usage, cable premium channels, restaurant eating frequency, energy consumption, vacation trips, and the gas mileage every week than reduce their wireless usage,” wrote wireless consultant Chetan Sharma in a new report (PDF).

Likewise, in a separate report released today by SNL Kagan, the firm predicts revenues tied to mobile entertainment such as video, music and games will grow exponentially over the next decade, even though as much as 40 percent of wireless-data revenues still comes from basic messaging today. The firm expects mobile-data revenue to grow from $34.7 billion in 2008 to more than $113 billion over the next 10 years. Mobile video and TV are expected to grow at a compound annual rate of 18.8 percent, music is forecast to rise by 12.2 percent, and games should see a steady 10.9 percent growth rate.

Sharma said wireless data revenues grew 7.3 percent from the previous quarter and 37.5 percent from a year ago to $8.8 billion. Totals for the first nine months of the year—$24.5 billion—are equal to the revenues generated in all of 2007. Even carriers that are seeing service revenues decline overall are seeing significant uptake on data services, although not enough to break even. Average revenues per user from voice declined 94 cents in the last quarter, but data ARPU grew by 90 cents. Verizon (NYSE: VZ) and AT&T (NYSE: T), which account for 62 percent of the data market overall, are projected to cross $10 billion in data revenues for the first time by year’s end. Sharma suggests it might be another quarter or two before the industry gets a better sense of where data service revenues are heading, but warns that if consumer confidence starts to reverse its trend early next year there would likely be a decline for the first time in mid 2009.

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