The paper presents a feasibility study of satellite formation-flying missions for space advertising. To estimate a space advertising mission viability, the global population coverage model is designed and the demonstration schedule with a focus on larger cities is optimized for the formation of small satellites deployed in repeat ground track Sun-synchronous orbits. Monetization of an image demonstration over a city depends on the city population, outdoor advertising cost, and parameters limiting the number of potential advertising observations. Formation lifetime expressed in terms of fuel consumption for image reconfigurations and maintenance is one of the key factors and is analyzed via numerical simulation of satellite formation-flying dynamics and control.