The independent digital outfit beat out heavyweights like Droga 5 and Bartle Bogle Hegarty for the business. In a sign of how rough things have gone for MySpace lately, the branding pitch was immediately followed by the departure of Jason Hirschhorn as co-president.

SEE ALSO: MySpace Calls For Branding Help In Advance Of Site Relaunch

While MySpace has often done B2B ad campaigns here and there, its consumer ad have been notably limited. The most prominent consumer marketing effort was done for the introduction of MySpace Music last year. The company spent about $5.1 million on that campaign, AdAge said, citing Kantar Media figures.

San Francisco-based P&O was started two years ago by P.J. Pereira and Andrew O’Dell, who raised a huge $30 million round four months after leaving their respective senior posts at interactive ad shop AKQA.