If you think that the recession is going to cause a dip in web advertising spending, you might not want to tell MySpace. Their MyAds advertising platform, which officially launched on October 12, is already a $50 million per year business.
Analysts are predicting that MySpace revenues for the fiscal year ending June 2009 will reach $1 billion. MyAds has obviously become a cash-cow for MySpace in a very short period of time.
With MyAds, advertisers can skip the normal sales process and use a Flash tool to create their own display ads, then run them on a cost-per-click basis. The minimum CPC rate is $0.25.
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