Here is my summary of Shawn Gold’s presentation at ad:tech Sydney today. Shawn is the Chief Marketing Officer for MySpace.com, the world’s biggest social network. How big you ask? Well;

• 0 - 150 million registered users in less than 3 years.
  Number One in the US in terms of page impressions, downloads and average time spent (an indicator of how “sticky” the content is). Other sites have more unique visitors (those with much wider appeal such as CNN.com etc) but no one can match them in terms of actual content delivered.
  Number 5 in Australia of all websites, Number 1 based on the same metrics as in the US.
  400 billion page views per month, over 100 billion ads served.
  Currently in 7 countries, with internationalised sites, and will be in 20 countries by year end 2007, including China.

What advertising options do they offer now to advertisers beyond just standard online ads?

• The movie industry were really the first to adopt MySpace seriously as an advertising option by setting up dedicated MySpace pages with video trailers and allow other users to comment on and become friends of the movie. A movie studio can spend between US$1 - 3 million in a period of a couple of weeks to promote a new release through targeted advertising on the network. They can get instant market feedback and research on a movie as soon as it is released via comments on their MySpace page.
• Bands and comedians have used MySpace to build and maintain a loyal fan base. It is becoming common for them to offer exclusive access to events to just their MySpace friends. The Beastie Boys recently did a show recently where only their MySpace friends could gain entry.
• MySpace creates originally branded video content that can then be promoted through the network.
• MySpace can promote original video content. Dove Skincare in Canada created a 1 minute video, did a very small TVC campaign and then pushed it entirely online, using MySpace and other tools. They got 20-30 million unique views for a fraction of the dollars it would have cost to get via traditional air time.
• They can offer highly targeted campaigns e.g. if you wanted to advertise to all hip hop DJ’s in the US market or just California, they can do this.
• If you have a MySpace page and have built up a significant number of friends, then MySpace can run demographic profiles on your friends, given you deep metrics on who is interested in your product/brand.

What’s next? Well like everyone, they are trying to figure out how to monetise consumer generated video content. I was interested to discover that MySpace delivers more video content than YouTube or Google Video. Videos with “hotspots” with hyperlinks, branded/”wrapped” video players and pre and post rolls are all being experimented with.

What are the key areas of focus for MySpace?

1. Self Expression Platform - Growing their toolkit of widgets and tools to allow more consumer generated content to be put up on MySpace. They really believe that this idea of self-expressionion, 21st century cyber-hippies if you will, are the key to their success. Other previous social networks, such as Friendster, which was the basis for their business model, failed because they were very restrictive on the content you could publish and in what format. For example they wouldn’t allow you to customise the look of your Friendster page.
2. Communications Platform - Various tools such as instant message, text, Voice over IP, video calling, to enable their users to communicate easily with one another.
3. Content Aggregation - They already have massive communities for movies, music and comedians, they intend to pool more content in specific communities such as fashion.
4. Marketer Platform - Tools for marketers and agencies to more easily advertise and run/analyse campaigns on their site. Importantly, all advertising and the type of advertising will always be elective to the user to avoid the impact being diluted over time.
5. Safety & Education - MySpace gets a bad rap from people about the dangers of meeting people online. Confidence in the site is critical to the site and they have a big team working on this area. Every photo (about 5 million per day!) and video(about 40,000 per day) posted to the site is looked at by a human being to screen out pornographic or hateful material.
6. Internationalization - Continuing to roll out MySpace to different countries in different languages with regional specialisations.

Here are some final soundbites:

Andy Worhol said “Everyone is famous for 15 minutes” well today “Everyone is famous for 15 people”

The arty kid in a small time who used to feel isolated because he coudn’t relate to the friends in his local school can now connect with thousands of like-minded people around the world. It’s a great time to be lonely on the Internet.

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