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MySpace is set to reap profits from commerce by lifting the ban on member to member commerce, only if it gets a share of the profits. The extremely popular social networking giant currently prohibits commercial messages or adverts on member profile pages as it could interfere or mar their regular corporate advertising.

MySpace was bought by media tycoon Rupert Murdoch for US$580 million two years ago in 2005 and now is looking to increase the site’s profit by twenty-fold. A highly positive objective, and perfectly achievable, seeing how MySpace made US$10 million profit in the fiscal year ending June 30th, in which Murdoch hopes to increase this sum to US$200 million by next year.

Currently MySpace employs corporate advertising agreements with media companies such as movie and record labels, but it is obvious that this mix has to be expanded and explored further so that Murdoch can hit his profit aims.

Via [Tomshardware]