Since the vast majority of Internet TV services use Flash in some form or another this will mean a boost in the number of video services available on mobiles. At TV Everywhere we've long discouraged bespoke development for mobiles with the complexities that the massive range of formats, networks and handsets bring, suggesting that clients wait until the advent of Flash.
But it's bad news for iPhone and Blackberry users, with Adobe announcing that they have no plans to port onto these platforms.
With Android being rapidly adopted there may finally be a chink in the Apple mobile juggernaut; the availability of Flash is also going to break down the App Market model.
Apple is far from an acquisitive company, and they compete with Adobe on many levels, but there surely must be some meetings going on in Cupertino looking at acquiring Adobe despite the overlaps in technology.