I didnt think it was that big either but recently changed my mind.
Check out this story about Vivid and Steve Hirsch:
http://www.forbes.com/business/2005/...0307vivid.html
The company is already providing erotic games and video clips to wireless phone users, but so far that business provides just $10 million in annual revenue. However, once age and access issues are worked out in the U.S. and other countries, Hirsch predicts that wireless "will be a big business.