A recent survey by Pyramid Research has valued global location-based marketing services at $6.2 billion in 2015. According to the research, that figure is equivalent to almost 35% of total mobile advertising revenue. But while mobile-savvy brands are undoubtedly enjoying the benefits of this unique approach to reaching consumers, smartphone companies like Apple and Google may soon have to be much more transparent about the kinds of information sharing they do.
Did you know that many of your favorite apps are tracking you without your knowledge? A recent WSJ report found that 47 of the top 101 apps for the iPhone and Android platforms were tracking location data of their users without consent.
To better protect your mobile privacy, Senators Al Franken (D-MN) and Richard Blumenthal (D-CT) have introduced the first locational privacy bill which would require companies to notify consumers when they collect location information and when they share it with third parties, like advertising networks. In addition, the bill would impose data security requirements for companies that have location information for more than 5,000 devices.
If passed, do you think legislation inhibit the success of location-based services?
Posted by Kate Patton