In 2016 advertisers spent almost $70 Billion reaching users on their mobile devices. We forecast that figure to more than double, exceeding $160 Billion by 2022. However; to date, mobile operators remain on the side-lines of this opportunity, leaving it to Internet giants Facebook, Google, and other players in the ad-tech space. We are starting to see that change, with some operators repositioning themselves as media and advertising businesses; SingTel, Sprint, Telefonica, Telenor, and Verizon, being good examples. With service revenue plateauing this presentation evaluates the role mobile operators' could be playing in the future of mobile advertising.