Fox News Corp has signed a contract with Google to be the search engine powering this monster social networking site, MySpace.com.
The agreement calls for Google to power web, vertical and site specific search for MySpace.com and the majority of Fox Interactive Media properties. Google will be the exclusive provider of text-based advertising and keyword targeted ads through its AdSense program, for inventory on Fox Interactive Media’s network. Google will also have a right of first refusal on display advertising sold through third parties on Fox Interactive Media’s network.
The integration of Google’s services including consistent search navigation across Fox Interactive Media’s network of properties is slated to begin in the fourth quarter 2006 and will provide users with access to Google’s industry leading search capabilities as well as text and display advertising from its global advertiser base.
This agreement not only gives Google access to more search data, but it also provides them more revenue through advertising. This agreement cost Google around $900 million, but it’s worth every penny for Google since I’m sure they are get over a 200% ROI on this contract. MySpace now has over 100 million users and the site ranked in the top10 online via Alexa.com’s rankings.
This is a huge deal for Google and I’m sure Microsoft and Yahoo! aren’t too happy about not getting the deal.
