June 16, 2008

MySpace and Advertising [7:01 am]

Some work for News Corp ahead, and we’ve already seen some of their ideas: MySpace Might Have Friends, but It Wants Ad Money

In the fiscal year that ends in two weeks, the News Corporation unit that encompasses MySpace will miss its $1 billion revenue target. When the News Corporation announced the projected shortfall in April, several analysts downgraded the company, sending shares down 5 percent.

With an eye toward monetization, MySpace is being redesigned beginning Wednesday with a new home page, which will be less cluttered and more hospitable to advertising. (The home page will also feature a “splash page” for an ad about the new Batman movie, “The Dark Knight.”) The redesign, to be done by early fall, will include a new navigation bar, search tool and video player.

The redesign is intended to address a problem of social networking sites, which is that many user pages have the aesthetic appeal of a 14-year-old’s high-school locker. But there are still many questions left about the advertising value of social networks.

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