MySpace: Yesterday’s Cool Tool Wants YOUR Advertising Dollars

myspace.gifI have not heard much about MySpace (owned by Fox) the media darling before Facebook (owned in part by Microsoft) took the media buzz.
MySpace, from what I gather is quite popular with music labels and young people. But Facebook’s widgets and applications are become the site of record for young people, but also millions of business processionals.
Business Week writes that MySpace has developed on online advertising tool, specifically for smaller businesses, to help them better target and create online advertising.
Targeting the right person in a vast social network, like MySpace or Facebook is hard enough. Creating an advertisement can also be challenging. Any help the social networks can provide smaller businesses will only help to increase the online advertising businesses spend on social networks.
BW writes MySpace is hoping more small businesses will see the light. On Oct. 13 the social network owned by News Corp. (NWS) takes the wraps off MyAds, a new approach to advertising that allows small businesses and individuals to create their own banner ads—illustrated messages in fixed places on a Web page. The service, initially available in a test phase, also will let advertisers decide who they want to target on MySpace and then track the results of the campaigns. MySpace is aiming at advertisers who want to spend under $25,000—though marketers can start by laying out as little as $25.