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MySpace program targets small advertisers

Called "MyAds," it allows small advertisers to use MySpace's targeted ad program, opening up a big opportunity for local ads on the social network.

MySpace has unveiled "MyAds," an advertising technology focused on small businesses and individuals rather than the huge brand advertisers that the News Corp.-owned social network is best known for. It's a platform in which an advertiser can allocate exactly how much to spend--between $25 ad $10,000--and target its audience using the HyperTargeting system that MySpace debuted just under a year ago.

With HyperTargeting, MySpace says that there are more than 1,100 specific ways to target an ad based on geography, demographics, interests, and other information sourced from public profile data. Advertisers can then keep tabs on performance through online analytics.

MyAds is currently restricted to MySpace in the U.S., where it has about 76 million members.

The "self-service" model is similar to what Facebook has done with its own ad platform--create an ad, choose how much to spend, select a target audience. But MySpace has a more obvious clientele in mind: bands. The MyAds homepage explicitly recommends the service for band promotion, something that gets very close to MySpace's roots as an independent music hub.

Promotional campaigns for bands, films, and other indie creative projects may have a more natural home on MySpace than Facebook, where the focus is less about media and more about communication.