Social networking website MySpace is set to launch a new advertising offer this evening as it overhauls its events listings service.
The website has suffered following the success of rival companies such as Twitter and Facebook, but hopes to claw its way back into favour with users by exploiting its reputation as a forum for music fans. MySpace has helped launch a number of successful music careers, most notably Lily Allen and the Arctic Monkeys.
To capitalise on this strength, the company is launching a new service that will add one million concert listings with a new calendar and links to buy tickets, according to a report by the Associated Press.
Promoters will be able to purchase listing space which will show up in users’ calendars and on profile pages in order to advertise their events.
The Press Association reported that Wal-Mart Stores Inc. is promoting an event to sell merchandise that goes with DreamWorks Animation SKG Inc.’s latest movie, How To Train Your Dragon.
MySpace co-president, Jason Hirschhorn, said: “As we look at the future of MySpace, it’s important to diversify our revenue streams, but also to figure new ways to integrate advertising.”