Web data are experiencing a proliferation of video content for mobile platforms. This is accompanied by new advances in heterogeneous general purpose processor (GPP) cores embedded in mobile devices which offer a great opportunity to enhance both performance and energy efficiency of software (SW) video decoding. On the other hand, hardware (HW) video accelerators are more energy-efficient but are not flexible and their time-to-market is significant. In this context, this paper proposes a characterization methodology to investigate the performance and power consumption of two video decoding approaches on mobile platforms. The first one uses a HW decoder intellectual property (HDIP) in addition to a GPP (for the control). The second one is SW-based and uses only a heterogeneous multi-core GPP. The objective is to study the behavior of both video decoding approaches by comparing them and to understand why and in which case it is worth relying on the GPP rather than the HDIP. We also derive the optimal GPP configuration (number of cores and their frequency) that minimizes the energy consumption for a given video bit-stream on a given platform. The proposed methodology was applied on the HEVC video codec standard. In some state-of-the-art work figures, the SW video decoding consumes up to 1000× more energy than HDIPs. Our results show that, for video resolutions of 1080p and lower and at the operating system perspective point of view, the HEVC SW decoding consumes on average less than 4× more energy (mJ/Frame) than the HW one. Then, the more we scale up the resolution, the more we get the advantage of using the HW video decoding. Furthermore, the HEVC HW and SW decoders consume effectively less than 30% and 50% of the global power consumption of the tested platforms, respectively.