MySpace, a division of News Corp. (NYSE:NWS), has plans to launch a self-serve advertising service targeted at small and midsize businesses and anyone else looking to reach the MySpace user audience. It expects to release SelfServe by early 2008.

SelfServe will enable users to generate business and promotional campaigns to be disseminated throughout the network of friends they have built on the MySpace platform. The advertising service will allow users to create customized ads using a tool that offers such targeting factors as geographic, demographic, and user interest categories. Would-be advertisers can then use the tool to pay for their ads and initiate placement.

The application will also offer analytics tools to help users track the performance of their ads throughout the MySpace network.