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Think Big. Move Fast.

Paid Content summarizes some key comments from the NewsCorp earnings call yesterday:

— On MySpace: “We’re actually quite pleased with the momentum at MySpace… (for Q1) we’re pacing well against internal expectations.” He noted a “dramatic” increase in branded display advertising, with several categories up over 100 percent year over year. Other points: hypertargeting campaigns are seeing doubled CPMs and advertisers are increasingly interested in branding campaigns for the MySpace.com homepage. Outlook: “Key thing I’d say… we believe that we are still in a scale game business.” Meaning: The company will continue to invest heavily. “Our expectation is that we will continue to grow our margins in the FIM business in 09.” Costs will grow, but margins will too.

Further evidence that social media is a business.

Other tidbits about the rest of NewsCorps business and FIM at Paid Content.