All social networks are heavily working on finding ways to earn money through some kind of advertising or marketing.
MySpace, one of the biggest (if not THE biggest) social network is already earning close to billion dollars in revenue.
Now they launched a new self serving ad platform. Ads are served on a CPC basis and you have to design them yourself. However, they’re not text ads, they’re display ads, which you can design yourself on the myspace website
The most interesting feature, however, is the targeting options you have. As Techcrunch writes:
The key to MySpaceâ€™s ad platform is their hypertargeting technology. Facebook allows targeting as well, although itâ€™s based on interest areas put in by users directly. So if someone says they like books, you can target ads to them based on that. What MySpace does is much different – they build out a profile of each user based on what they do on MySpace over time, with 1,200 different ways to categorize each user. So if you only want to target women who live in California between the ages of 25-30 who like motorcycles, i can. There are 2,842 of them on MySpace.
If that works properly – and if it is accepted by the community to be targeted in that way, it could well be a huge opportunity for myspace to increase advertising revenues!