MySpace Music Launches, No Audio Ads for Now

Updated: The curtain went up last night on MySpace Music, a joint venture with major labels and indie distributor the Orchard to provide free ad-supported music streaming.

Simultaneously, the site has finally introduced its self-serve ad buying system, allowing bands and other profile owners to slice and dice its audience and put together low-cost ad buys.

The cool kids say MySpace Music has a good shot. That may be, but at some point it’ll have to answer marketers’ concerns about the effectiveness of display ads on an audio-based service.

The alternative — radio-style audio ads — is anathema to digital music listeners but may be inevitable. After all, digital radio executives sing the praises of companion banners on station Web sites, but I’ve yet to speak to a marketer who puts much stock in them.

As we reported earlier this month, MySpace Music launch sponsors include McDonald’s, Toyota, State Farm and Sony Pictures. The images above and at right show a typical ad placement on the service… overall pretty similar to what you’ll find elsewhere on MySpace. Here’s hoping it’s enough.

The new ad buying interface, available at advertise.myspace.com, has been a long time coming. With a minimum spend of $25, it’s being presented as a vehicle for bands and small businesses to drive traffic to their profiles and outside Web sites. It comes with basic ad templates for those without existing creative assets.