Spending on locally targeted mobile advertising in the U.S. is expected to rise nearly sevenfold by 2015, to $2.8 billion from only $404 million in 2010. A new five-year outlook from research and advisory firm BIA/Kelsey predicts overall mobile ad spending in the U.S. to rise from $790 million to $4 billion. The firm expects the shift to come from large brand advertisers, but also small and medium-sized businesses. Such spending growth poses a clear opportunity for local news organizations to build mobile products that can deliver location-based advertising. It also suggests major technology and social media companies will compete for those dollars.