Some speculate that the internet doesn't have the reach of traditional media. Fox Interactive Media's president disagrees. Here's why.

Massive billboard and TV campaigns for a summer blockbuster are tried and true methods of grabbing attention and putting butts in seats at the multiplex. And while online interactive campaigns get consumers excited about a film in the same way, the party line on new media is that it lacks reach.

Peter Levinsohn, president of Fox Interactive Media, disagrees. In Levinsohn's eyes, the line between traditional and new media is blurring.

"There are obviously some distinctions between the two," Levinsohn said at the iMedia Entertainment Marketing Summit. "Traditional media is more synonymous with mature quality. New media is rapid. There is this feeling that the internet has less reach, and that’s not an idea I would qualify."

The large difference between the two, Levinsohn said, is the ability to hyper target an audience via new media, thanks in large part to a changing internet user. MySpace, a Fox property, combines broad, billboard-like marketing possibilities with the ability to find a precise audience.

"MySpace has a number of very unique factors to it," he said. "We have 75 million people who come every month, and we also have a homepage. The finale of 'American Idol' was watched by 30.5 million people. We're hitting that type of audience every single day [on the MySpace homepage]. We have the benefit of a mass reach, big billboard-type of advertising."

When MySpace recently relaunched its homepage with a full page ad touting the Warner Bros. film "The Dark Knight," a preview of the movie was viewed 78 million times.

But beyond that, MySpace is able to hyper target the audience a marketer wants to reach. Thanks to user-submitted data, MySpace can comb through 40 billion data points, which include things like users' favorite films, music and actors.

"Probably one of the biggest things we're seeing is massive amounts of communication and sharing of information about individuals," Levinsohn said. "Even today it shocks me how much information people will share about themselves."

For a campaign for "Fantastic 4," MySpace was able to show the marketing team that five million members liked science fiction. Of those, two million MySpace members said "X-Men" was one of their favorite movies of all time, and 500,000 said Jessica Alba, one of the film's stars, was their favorite actress.

"I've just described the exact target audience for 'Fantastic 4,'" Levinsohn said.

MySpace's targeting abilities have also led to some surprising results, such as the fact that video game players with an affinity for tattoos and body piercings also have a strong brand loyalty to Diet Coke.

But how do advertisers take advantage of the reach offered by MySpace and other social networks?

Stick to the space, Levinsohn said. MySpace draws up to 43 billion page views a month, but advertisers aren't taking advantage of it.

"One of the things that has struck me as odd, is that the ad spending really isn't keeping up with the time spent, which is somewhat interesting," he said.

While it's easier than ever to find an audience that might be interested in a brand, the goal is to actually engage the audience. When it comes to this, creative is king, according to Levinsohn.

"Users absolutely love to engage with content," Levinsohn said. "Any time you can get them to engage in professionally created content makes it more fun for them. The more you get them excited about the branded asset, the better."

Rich Cherecwich is assistant editor for iMediaConnection.