From what I have read the company specialising in making apps for stars, ie the signed Reynaldo the soccer player, make an app game for him and then it goes live on the smart phone websites and they share profits (% etc unknown at this stage)..
I think there is a lot of money in this sector but it will depend on how to capture it and do it right.. If they get it right there is always potential for a take over by someone big like google etc too I guess..
Some recent links..
Motopia is fast becoming a world leader in the high growth areas of mobile marketing and branded mobile content creation, licensing and distribution. Motopia partners with advertising agencies, brands and mobile advertising networks providing turnkey advertising technology and marketing solutions, aimed at simplifying the advertising processes on both ends of the value chain.