Just in time for the imminent launch of its music site, MySpace quietly went live with its Self-Service Advertising Service last night. The new product allows any user to create and post an advertising unit to the site.
Based on demographic data and interests posted by MySpace users, large and small advertisers can hone in on the specific group that they would like to target.
The service is free to set up (though there is a $25 minimum for campaigns) and advertisers pay only according to how many users click on their ad. The ad unit, either a 728×90 or 300×250 banner ad, will run until the campaign has met its expiration date or the advertiser’s spending limit.
With MySpace Music set to launch any day now, self-service ads are part of a variety of ways that small musicians and other brands can monetize their presence on the social network. MySpace musicians can also sell music, ringtones, concert tickets, and merchandise on the network.
Facebook has a similar service, which also offers text and graphical ads, though ads can either direct users to external sites or Facebook pages. The ads on MySpace’s producy link to profiles on the social network.
