All your friends may be on Facebook, but is your high-school yearbook? Classmates.com, known for ads featuring old yearbook photos, is extending that concept across its site with an "ambitious plan" to secure and digitize high-school yearbooks, using them to populate the site with more photos -- hoping to get users to pay for a Classmates.com subscription to access the full-sized images.

That was one of several new initiatives laid out by Mark Goldston, CEO of Classmates.com parent company United Online Inc., in a conference call with analysts this afternoon after the company's quarterly earnings report. Classmates is trying to differentiate itself and regain momentum as Facebook and other free sites chip away at its core audience of former high-school, college and military classmates.

Goldston said the yearbook initiative will take place over the next one to two years, using "a very high-tech piece of equipment" to digitize the pages. Viewing thumbnails would be free, he said, but the company hopes to boost subscription revenues through a feature allowing users to view and customize full versions of the digitized yearbook content. Classmates.com also hopes to partner with outside vendors to sell DVDs and hard copies, Goldston said.

"One of our key strategic objectives for 2010 is to broaden the amount of nostalgic content on the Classmates website," he explained.

In addition, Goldston said Classmates.com is looking at a "major reunions initiative that will allow us to be more involved in the planning and selling of tickets, travel-related revenues, and the creation of reunion-specific products and services that we can sell to our users." That initiative will start in the second half of this year, he said.

At the same time, Classmates is testing a preliminary version of a Facebook application that will let users of the larger social-networking site register with Classmates.com to receive notifications of class reunions within the Facebook interface. Beyond that, the company is testing a more comprehensive Facebook application that will let users search Classmates.com and view content from the site from within Facebook.

The company had previously signaled plans for Facebook and iPhone apps in an updated privacy notice for users.

Other initiatives being considered by Classmates include an educational fundraising program that would let high schools tap its user base to raise funds. The company is "in the early stages of evaluating this opportunity, which could really be major," Goldston said. "If we do decide to proceed, our goal would be to revolutionize the way U.S. high schools access their alumni and raise money."

Earlier: Classmates accounts reach record, profits decline