MySpace launched their ad platform service called “My Ads”, the new MySpace ad platform allows anyone to establish an account and begin targeting ads to a particular demographic. MySpace allows users to build image-based ads on the fly. What's more, advertisers will find the targeting options get exceptionally "granular." Users can choose between a 728×90 or 300×250 ad unit and can create an ad with pre-built templates and a Flash tool, or upload their own.
With MyAds, MySpace offers familiar demographics to advertisers interested in using its service. Among the targeting selections are gender, a range of ages from 14 to 65+, geographic targeting for the United States, and a series of highly targeted interests. The ads are charged on a cost-per-click basis (Facebook allows advertisers to pay, at their option, on a cost-per-click or cost-per-impression basis). Ads are prioritized based on the maximum CPC rate stated by the advertiser as well as relative click information.
More info: MySpace MyAds