MySpace is launching a new self-service ad program, designed to help businesses promote themselves across the social network.
The beta service, found at advertise.myspace.com, allows companies to target MySpace members according to gender, location, age and specific interests with ads that belong to one or more pre-defined categories. These are auto, books, fashion, health and fitness, miscellaneous, movies, music, sport, TV and video games.
Advertisers can then access stats showing how many networkers will potentially view the ad and set the length of the campaign accordingly. Users will not pay to list their ads but will only be charged when someone clicks on it. The price of a campaign could range from USD25 to USD10,000, estimates PC Magazine.
The service will complement MySpace’s overall ad business, which is outperforming the marketplace, the company claims. Earlier this month, MySpace COO, Peter Chernin, said: “The MySpace advertising business is above budget, above where we expected it to be.” However, he did not provide any figures.
According to eMarketer, the overall market for social network ads in the US will be worth USD1.6bn by the end of this year, up from USD920m in 2007.
The new ad service comes hot on the heels of MySpace Music, which officially launched in the US this week.The music service is a joint venture between MySpace and the four major labels – Universal, Warner, Sony BMG and EMI.
The new platform offers free ad-supported streaming of songs and music videos as well as tools for creating personalised online playlists. Users can also buy DRM-free tracks from the Amazon MP3 store and save them on the MySpace Music ‘cloud’.