Ok, so I mentioned a few weeks ago how MySpace was gearing up the platform for the end user. And how MySpace has signed a deal with internet communications company Skype allowing MySpace user to easily make free internet calls.

So while we’re on the on the social networking topic, MySpace has now geared up their site for the advertiser. It is important to have both ends of the spectrum covered, and this certainly will help with that. MySpace is set to launch behavioural targeted advertising enabling advertisers to reach people who have specific interests in products and services. This is great for advertisers as The ‘Self Serve by MySpace’ platform allows users to create and analyse the performance of their ads throughout the MySpace network.

Michael Barrett, chief revenue officer for Fox Interactive Media, owners of MySpace, said: “Targeting is for everyone—from the smallest band to the biggest brand—now MySpace provides a solution for anyone looking to advertise on the most trafficked site in the country.”

The platform will give any user the opportunity to create customised advertising through a new ad creation tool. The tool enables users to select from a number of ad targeting factors such as geographic, demographic, and various user interest categories. After selecting their desired ad placement within the MySpace network, all Self Serve participants will use the customised tool to pay for their ads and initiate placement. All users registered for Self Serve by MySpace will have access to analytics tools enabling them to track their ad performance.

There are currently 4.2m registered MySpace users in Australia and the company claims that 6,000 new users sign up each day.

Rebekah Horne, general manager of Fox Interactive Media, said the new advertising platform would provide advertisers with greater return on investment.

The new service will be available next year.

Meanwhile MySpace has announced the completion of the first phase of another new advertising platform, Hyper Targeting, which allows marketers to buy advertising targeted to specific interest-based segments of the MySpace audience.

Since launching in July, brands have experience performance lifts of up to 300% on the Hyper Targeting platform. That’s not a bad rise indeed.

So back at you Face Book, what’s next?