MySpace has launched a self-serve ad platform. Dubbed My Ads, the platform allows advertisers to make and upload their own banner ads and then target the messages to MySpace's thousands of niche groups.

Michael Arrington of TechCrunch got a sneak preview of the platform and found that its real strengths are the targeting capabilities offered by MySpace.

"If you only want to target women who live in California between the ages of 25-30 who like motorcycles, [you] can. There are 2,842 of them on MySpace. And if I just want to target those in San Francisco, I can. There are 147 of them (the ad tool tells you all of this)," Arrington wrote.

Facebook offers a similar self-serve platform, which offers only text ads. While Facebook allows advertisers to target their messages, the approach is substantially different. Where MySpace cross-checks data users report about themselves with their actual online activities, Facebook relies largely on information provided by members.