MySpace has made the decision to go “in house” with their advertising. Called MyAds, the new service is designed specifically for MySpace users and the companies who target them. Potential clients will have the option of either uploading a pre-made ad, or making one on the fly using the service’s new advertising creation tool. “MySpace MyAds is a direct marketer’s dream,” said MySpace president of sales Jeff Berman in an interview with tech site Computerworld. “We’re giving businesses better ROI [return on investment]… and in today’s economy, that’s a must-have.” At launch, MyAds advertisements are limited to display ads only.

In other news, the folks at NBC Universal are beginning to see the value of a “local” audience. The media giant is putting the final touches on NBC Local, a collection of sites geared towards residents of specific urban areas. “These sites are about putting consumers first and giving them the content they’re looking for from the best available sources,” says NBC Local president John Wallace. Users can expect the sites to feature a distinct, “locals only” feel, with stories ranging from local politics to sporting events to nightlife. Cities selected for the new service include Chicago, Philadelphia, and Hartford.

Elsewhere,  it seems as if those behind the notorious peer-to-peer file sharing program Lime Wire are ready to go legit. Company officials are in talks with several major record labels about becoming a part of its latest venture, Lime Wire Store. The ultimate goal, according to sources at CNN, is to create a “music search engine” similar to MySpace Music. At press time, the only company to take Lime Wire up on their offer is independent label +1 Records.

In other music news, major label EMI has announced plans to launch their own online music store. The as-yet-unnamed service will feature a mixture of free and paid content, as well as a “Last.fm style” music discovery system. While those close to the project claim that the music giant has no desire of “[competing] with iTunes or Amazon,” many analysts believe that the service could be a major player if they play their cards right. An official launch date has not been announced.

Finally, we have a few interesting thoughts from StomperNet faculty member Andy Jenkins. According to Jenkins, most of the truly great marketers seem to have one thing in common — they are all great storytellers. By telling a compelling story, a salesman can do everything from create a bond with the audience to make the mundane seem exciting and new. A believable tale can also make the teller seem more approachable to the general public. Interesting to read and utterly fascinating, Jenkins‘ article shows you how to harness the power of an affable personality … and how to use that power for good.