Leading social music application developer iLike is announcing the launch of a self-serve ad platform for concert promoters and venues as well as streaming music from Rhapsody throughout its service tonight.

In addition, developers will soon be able to add music to their Facebook apps websites via iLike. The new service (which will launch during the quarter) allows developers to add song and playlist playback to their websites or Facebook applications.

iLike and Rhapsody are trying a new model to monetize music consumption on Facebook and other top social networks. Artists and labels will be paid royalties each time their music is played via Rhapsody’s existing agreements. It’s available now on iLike.com and will be launched soon on iLike’s Facebook application, which has been installed by over 13 million Facebook users.

iLike’s new self-serve advertising tools will allow promoters to target music fans on social networks based on their location and tastes. The ads will ride through Facebook’s communication channels, boosting their visibility. The ad platform will also reach iLike users on Orkut, hi5, Bebo, and iLike.com.