The telecommunications industry has turned into social and communication-oriented services, along with declining voice services. In line with these changes, the telecommunications industry must adjust to market changes. One of the service changes that occurred was the emergence of mobile advertising services. The aim of this research is to build a mobile advertising service model that serves to form value co-creation for the industry of mobile telecommunications in Indonesia. The study used a sample of the broadband community of users from the largest mobile telecommunications provider in Indonesia. They involved their customers as part of service delivery in the company to co-create the value. The number of participants was 284. The sampling technique that was used was non-probability sampling. The data analysis was carried out using Structural Equation Modelling (SEM). The result of this study is to find a mobile advertising model for the formation of value co-creation for the industry of mobile telecommunications.