In connection with advances in wireless technology, mobile advertising (m-advertising) has been identified one of the most promising potential business areas. Even though it offers revenue-generating opportunities for a number of different actors, the possibilities have not been utilised or studied. The purpose of this paper is to explore what kind of business network could evolve around a novel m-advertising service. Using a scenario planning method, this study suggests four network models, each describing three elements, for example, the mobile service, the roles of the actors and the value-creating exchanges between them. This study also evaluates the scenarios by discussing their value creation potential. Copyright © 2006 Inderscience Enterprises Ltd.