With search and social networking sites vying hard for developers' attention, AIM Money -- an incentive launched today -- is giving developers a cut of the action on ad revenues derived from their AIM-based applications.

"AIM Money is a new revenue-share platform that allows you to make money from ad views generated in your Open AIM application. The more ads displayed, the more money you make. It's that simple. There are no fees to participate, and monthly payments are issued only via PayPal," according to a blurb posted on a new AIM Money page.

A big catalyst behind AIM Money is the open interface in AIM 6.8, a new platform which also includes built-in "mini-applications," 150 new CBS radio stations on AOL radio, and other new features.

AOL actually pre-announced AIM Money in March while unveiling the Open AIM 2.0 developer program, which opened up the AIM chat network to third-party developers for integration into other applications. To take part in AIM Money, developers need to use an ad from AOL's Platform-A ad network and one of four other specified AIM elements.

In a posting on the AOL developers site, blogger Kevin Farnham suggests a number of different types of applications for AOL's Open AIM API's, including AIM plug-ins, bots, custom clients, and applications using AIM Phoneline, AIM Presence, or Web AIM. AIM's registered user base is now closing in on 100 million users, according to Farnham. Also, AOL completed the acquisition of the Bebo social network in May.

In a report issued yesterday, analyst firm IDC named AOL as one of the top five recipients of Internet advertising revenues during the first quarter of this year.

Meanwhile, competitors such as Google and Facebook have been taking a different approach to luring developers: the establishment of open source development platforms.