Advertising For Success: MySpace to become monetized

Chris DeWolfe bought the domain MySpace.com in 2002, thinking that it might be useful someday. Today, MySpace is a social-networking community of 85+ million tweens, teens and college students. MySpace has a new owner, Rupert Murdoch's News Corporation. News Corp. bought MySpace and Intermix last year for $649 million. Now pressure is on Mr. DeWolfe to monetize MySpace.

News Corporation is assembling its overarching online unit, Fox Interactive Media. Run by Ross Levinsohn, the longtime manager of FoxSports.com, Fox Interactive Media is stitching together several Web properties into a big Internet company focused on youth. The top priority is MySpace.

One idea is to turn advertisers into members of the MySpace community, with their own profiles. Now, the young people who spend hours each day on MySpace can become friends with movies, cellphone companies and even deodorants.

Users will be able to link to the profiles set up for these advertisers, as they would to real friends. Then, these friends will be able to send them messages (advertising).

Somehow, I do not think this will work. Can you imagine the profiles?

Hi, my name is Deryk. I am 18 and keep my breath fresh with Vanilla Crest and control my flatulence with Gax-X. I am 6'2" when I am gelling with Dr. Scholl's.

My name is Lenara. My hair is Golden Honey #2 by Clairol, my eyes are Aquamarine by Accuview, and I am medium tan, thanks to BellaBronze.

Hello, Josh here. I love Axe deodarant, always depend on Lotrimin for my athlete's foot, and when I have that nasty jock itch, I break out the Tinactin.

Howdy, my name is TZ. I enjoy reading books I purchase at Amazon.com and receive all my DVDs from NetFlix. I use the American Express card so that I receive vacation miles with every purchase.

Hey! Candy here. I drive a car financed by proceeds from feminine hygiene advertising displayed prominently on my SUV. I eat wherever Mystery Shopper assigns me.