MySpace launches MyAds advertising platform
Last night MySpace officially launched their new advertising platform, myAds, which has been in the works for at least a year. MyAds is a self service, targeted ad platform, like the similar product offered by Facebook. Facebook’s ad platform allows only text ads, MyAds currently allows only display ads - advertisers are limited to 728×90 or 300×250. MyAds offers display ad templates and a flash tool for those who need help creating their ads, of course advertisers can upload their own as well.
MyAds operates on a CPC model and ad placement are prioritized by max CPC rate set by the advertiser and how often ads are clicked on. A key differentiator between MyAds and Facebook however is the ability for MyAds advertisers to “hyper-target” their ads. MySpace’s hyper-targeting technology takes into account a users activity over time, where Facebook focuses on the specific user defined interests. All together there are 1,200 different ways an advertiser can categorize users within MyAds.
So, will this add the revenue stream Rupert Murdoch has been looking for from his social portal? Personally, I don’t think it will be what adWords was to Google but should of course add something to the bottom line. I see MyAds being very similar to Facebook in the sense the CPC will be pennies and result in a high-volume of impressions but low quality click counts. However, as with Facebook, MySpace should be part of any advertisers marketing plan.
From the MySpace Press Release.
MySpace today officially announced the domestic beta launch of MySpace MyAds, the new advertising platform designed to empower individuals and small businesses from local retailers to musicians and politicians to create relevant, targeted promotional business campaigns within the world’s premier social media environment. MySpace MyAds is a new, do-it-yourself advertising platform that democratizes the landscape of online advertising, enabling anyone to create customized banner ads, target to specific audiences using MySpace’s HyperTargeting technology, and analyze campaign performance tracked throughout the MySpace ecosystem.
With MySpace MyAds, we’re blowing the lid off display advertising solutions for small and medium businesses, said Jeff Berman, President of Sales and Marketing for MySpace. MySpace MyAds is a direct marketer’s dream providing entrepreneurs with the most accessible, personalized, and targeted advertising toolkit in the market. We’re giving businesses better ROI ASAP and in today’s economy, that’s a must-have.
MySpace MyAds empowers any advertiser to build a customized, targeted, and measurable campaign in a few easy steps:
STEP 1: Visit https://advertise.myspace.com or click the Advertise link located at the bottom of any MySpace page
STEP 2: Create a display ad using the MySpace MyAds Builder Tool
STEP 3: Select a variable ad spend anywhere from $25 to $10,000
STEP 4: HyperTarget to customers
STEP 5: Measure ad performance with MySpace MyAds analytics reporting
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Comment from william
Time: October 14, 2008, 2:57 am
This is a nice move by myspace; but it continues to follow their stale old act of creating large amounts of revenue on the backs of members and their content.
myspace is easily worth at least a billion, and where is the value coming from other than members/the communities content and activities.
How much ad revenue is myspace sharing with members that generate ad revenue for them ? Are they giving anything back to the community that has put them where they are ?
I am technology consultant, and this summer I became so feed up with the share cropper mentality of sites like myspace that I decided to build an application that shares the wealth that is created with the community.
We also have a stand alone ad service and we have a granular micro revenue sharing service that allows members to share their revenue with Friends, Groups, or Causes.
And unlike myspace and the rest we will be releasing most of the service to the open source community because we know we are not the smartest guys in the room.