The wireless penetration has reached 91% in the US in 2009. With billions of SMS messages sent every month in US alone, it has become the most effective and cost efficient mechanism to communicate and market. By surrounding the user with opportunities to connect, SMS can lead to multiple interactions over SMS or other mobile channels. Including SMS as part of application marketing is critical for user acquisition, retention and monetization. This report evaluates the SMS ecosystem and value chain including components invested in the potential of SMS and supporting technologies. It provides a case study of companies who have benefitted from this service in infotainment services like music and games.