After years of neglecting a huge opportunity to monetize the small business segment on MySpace, it appears that they have finally figured it out.  MySpace launched a new Self-Serve Advertising program that’s currently in beta.  The service allows businesses and musicians to develop their own ads and target specific groups on the site.  Facebook has had a similar program for a while now, and although the targeting works differently, they are similar in that they provide small business an opportunity to advertise on the site.  

Previously, only advertisers with deep pockets could play in the MySpace sandbox, so hundreds of thousands of businesses did the next best thing – they created their own free profile for their business and grew them organically.  This new program is a sign that MySpace finally figured out that they couldn’t really stop this practice, and they might as well try to make money from it. 

We will be testing this new ad system for our clients in the coming weeks to see how effective it is.  Stay tuned.