Cyworld - Myspace from South Korea

An interesting note about Cyworld's plans to enter the U.S. market. In South Korea, Cyworld has 90% of young people as members - a higher per cpaita membership than MySpace in the states. More importantly perhaps is their revenue model...

That makes Cyworld's per capita penetration in South Korea greater than that of MySpace in the United States. And its business plan is unique. The bulk of Cyworld revenue comes from the sale of virtual items worth nearly $300,000 a day, or more than $7 per user per year. By comparison, ad-heavy MySpace makes an estimated $2.17 per user per year.

Essentially, they charge users to personalize their home page. Not much, but it adds up.... Could this be a way that Myspace monetizes its user base? Cyworld also sells music, which seems more likely. Comments?