The demassing of the advertising space continues with more and more companies looking to the virtual world of Second Life to sell their stuff--and more media outfits like Reuters, Wired, CNET and others going virtual to cover the growing business there. YouTube, MySpace and other social networking/video sharing sites are hot and atrracting lots of advertising interest as well. This is putting pressure on Yahoo. Check out the SL landscape.
There are many areas of innovation but the social networking/video sharing space is clearly one of the hottest. Values for these properties are probably bubbly high but that's another issue. Companies need to have strategies for Second Life, MySpace, YouTube and other social networking organisms. Like now.
But clearly there are risks, especially copyright infringement risks.