MocoNews.net reports that the London-based Mobile Entertainment Forum is launching a mobile social networking exploration initiative, that will hopefully determine ways to generate revenues, discover new business models and establish greater consumer protection on cell phones.

The organization said 60 percent of its members identified social networking as a top priority, and a 2006 survey with Informa, forecasted that mobile communities and user-generated content would be worth $13.2 billion by 2011 worldwide, according to the report. MEF said it "will develop best practices for different geographies to ensure members meet local regulatory standards."

In each of five regions—U.S., France, India, Italy and the UK—three MEF members will study social networking and generate individual plans. MocoNews said that since in typical cases, social networking sites start out online and then eventually move to the mobile side, it will be interesting to see what this organization comes up with.