Amit Kapur from MySpace speaks about MySpace as a platform. He is talking about how MySpace looks at it’s developer platform and how it fits into their business model.
Starts by focusing on how they think about the internet. Internet becoming more personal, more portable, and more collaborative.
Myspace core business is driven by two key engines and enablement platform( tools to create your own experience as a user and developer tools) and a connectivity platform (the MySpace social graph). MySpace wants to use these core engines to drive change in the internet.
Launched a developer platform on February 5. Phase 1 is developer only (30 day head start). Phase 2 will go live to users and launch an application directory. Phase 3 layer in an additional services for developers.
What it to be a democratic process to give developers a voice and level playing field.
The platform will be based on open standards, eg, Open Social.
Amit states that there is a commitment to keeping MySpace safe and a commitment to monetization.
Five surfaces for an application
API to public profile data
access friends list
Amit focuses on the business of social platforms
Its been hard to monetize because traditional approaches don’t work. He says they are “laser focused” on solving this problem.
The philosophy – sell people not pages. Need to go beyond keywords to learn about what images, blog posts and unstructured data to create hyper targeted interest groups.
He shows an example of Brad – the sports and music fan. He then goes on to do a comparison of hypertargeting vs traditional web proxies. He shows the range of data that MySpace knows about it’s users and examples of how detailed they can get with people’s interest data. Southern Girl example is a marathon runner with a count down to the next marathon – imagine what you can do with that information.
He says they are seeing 300% improvement in click through for 150 initial advertisers using hyper-targeting.
He says they have developed a self-serve advertising system for MySpace that will open up the advertising possibilities for small business marketers.
He sees this as just the beginning of scratching the surface. They will continue to focus on smart monetization technology to unlock value in social media.
How much does hyper-targeting pull in? – Pulls in a lot of un-structured data. Uses smart machine learning technology – points to 300% improvement as evidence.
How will developers make money? Help facilitate with marketing. They will be developing their own ad network to help monetize this.
When will third party apps go live? Very soon, over the next few weeks.
[tags]gspwest08, graphing social, Graphing Social Patterns, Amit Kapur, MySpace[/tags]