MySpace Opens Platform. Good News For Music Marketing.

MySpace's new development platform has gone live and allows full monetization for developers.

What does all this mean for music fans and marketers?

Lots of great new applications. And because its based on Google's OpenSocial platform, very soon you'll be able to update your MySpace pages instantly when you update your website, Friendster page and all kinds of toehr social networking sites. (FYI - Facebook is not playing nice with this "open" idea.)

According to PaidContent:

* Developers can monetize their canvas page (the page where users add these apps to their profiles) and keep all of the revenue

* Developers can use any form of online monetization: ads, sponsorships, product sales, etc.

* MySpace will add in its “HyperTargeting” and “SelfServe” ad products over time.