Mobile Entertainment Forum (MEF), the London-based trade association, is launching a new initiative today that will explore mobile social networking in the U.S., France, India, Italy and the U.K. to determine ways to generate revenues, discover new business models and establish a way to protect consumer protection. 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. In this initiative, MEF said it will develop best practices for different geographies to ensure members meet local regulatory standards. In each country, three members will study social networking and generate a plan, schedule and communications outreach. To date, most social networks have started off online and moved to mobile. It will be interesting to see if the MEF can clearly outline the unique opportunity in mobile. Release.