MySpace launching its own ad network

While the world waits with baited breath to see what kind of an ad network Facebook will announced tomorrow, other social networking sites aren't resting on their laurels. TechCrunch reports that MySpace will announce "SelfServe by MySpace" today, with a launch set for sometime in the next two months.

The image ads will show up on profile pages, unlike the site's Google text ads. The service will allow advertisers to buy, design, and analyze their advertisements all in one place.

This doesn't look like a game-changing technology. Rather it will give advertisers a new way to reach MySpace members on the site itself. Facebook, on the other hand, is rumored to be launching a complete advertising solution that will serve up ads on sites beside Facebook.com. The Facebook SocialAds platform will also reportedly track user data in order to serve up highly targeted ads.

Via (Tech Crunch.)