Loopt is reaping the benefits of advertising. Downloads of its LBS social networking applications have gone through the roof since the airing of Apple’s iPhone TV commercials featuring its app.

According to tracking service MyBefia, Loopt application downloads are up 15 to 20 times compared with the non-commercial airing period. Downloads of the Loopt app are outpacing those for Facebook or MySpace.

The ads are expected to remain on the air for almost a month. Here’s a link to the ad: (Click Here).

Another LBS company is jazzed about the Apple Apps store as well. Skyhook Wireless, a partner with Loopt on the iPhone, specializes in location positioning for Wi-Fi. Hundreds of LBS applications are available for the iPhone, noted CEO Ted Morgan. “We’ve talked about LBS for years,” and when people asked for ideas, navigation and buddy finders would come first to mind, and then maybe local search. “Everyone stared into space for the fourth idea. When you open up a device, you get 500 (LBS applications) … For folks like us, it’s a whole new world.”

Skyhook’s technology makes Wi-Fi/cellular phones get a better fix on location when they’re in buildings or urban canyons.