Spending on geotargeted mobile ads is expected to reach $725 million this year and more than triple to $2.74 billion by 2017, according to an estimate by BIA/Kelsey. "We're seeing enormous interest in this type of marketing from mainstream brands, far more than we did 18 to 24 months ago. Brands are realizing that consumers are increasingly using the mobile device to navigate the physical world, and they have a unique opportunity to put a message into that [experience]," said Alistair Goodman, CEO of Placecast, a location-based advertising provider.

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