Two reports released today came to two separate conclusions about mobile advertising: young mobile phone users don’t mind ads as long as it subsidizes the cost of a service and that digital and mobile advertising revenues are on pace to hit $150 billion by 2011.

—A study by U.K.-based Mobixell Networks, an mobile advertising network, said 35 percent of 16- to-35-year-olds would use more ad-funded multimedia messaging services (MMS) if those services were offered for free or at a discount. Twenty-nine percent also say they would use more video services if offered for free or at a discount, reported MediaPost’s MediaDailyNews. Mobixell Networks said that the 18-35 demographic group currently consumes 56 percent of mobile media content, and makes up 29 percent of TV viewers.

—Digital and mobile advertising revenues are expected to increase 12-fold to about $150 billion worldwide between 2002 to 2011, according to the second annual World Digital Media Trends report, which was compiled with the help of 71 research groups and released at a meeting of the World Association of Newspapers in Sweden. Editor & Publisher wrote that the report said the number of wireless device subscriptions is expected to increase threefold to 3.4 billion from 2002 to 2011. It’s a little difficult what mediums is included in this figure, and since the report made recommendations to the newspaper industry, it may include both mobile and online digital revenues. In general, the article said content is going digital, with experts predicting that for some countries, the Internet will become the primary news and information source within five years.