MySpace is getting a new classified section, which should be a nice upgrade to their existing offering. The new section is powered by Oodle, which runs classifieds for sites like Wal-Mart, Cox Broadcasting, Military.com, among others.
The biggest upgrade: More listings, which should make the classified section much more useful. Oodle CEO Craig Donato says that across the more than 200 classified sites that his company powers, they get about 500,000 new listings per day. MySpace Classifieds gets access to those ads, as well as ads that MySpace users are listing.
That puts MySpace ahead of Facebook’s Marketplace and MySpace’s old classifieds site, which have pretty paltry offerings. But it’s not going to kill Craigslist yet. And it’s probably not going to make much money for MySpace any time soon.
Why not? It’s free to post listings onto the site. The only fees that MySpace might get to share are for premium services like featured listings, etc.
Ad revenue? MySpace should get more pageviews, and therefore more ad impressions. But right now only 1 million of MySpace’s roughly 115 million monthly visitors are looking at the classifieds section, according to Donato. They’d have to work on increasing that first. And then they’d have to get someone to buy all that inventory.
MySpace is a real business now, generating real money for parent News Corp. (NWS), as Peter Kafka pointed out yesterday. The new classifieds are definitely an improvement, and should help bring people to that section of the site. But for now, it’s a small part of the search for more revenue.
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