MySpace, owned by Fox Interactive Media, a Fox News (NYSE:NWS) company, has released the beta of its Community Builder advertising platform. The new platform allows MySpace advertisers to build, maintain and customize brand profiles, and provides guaranteed valuable analytics to measure campaign performance.

The Community Builder platform is available in both Self-Service and Full-Service versions. Both versions allow advertisers to update blogs and community bulletins, analyze performance, and create and maintain brand momentum. Self-Service is aimed at advertisers who have advanced coding skills, while Full-Service offers a customizable pre-configured solution.

"Community Builder is the next evolution of the MySpace brand profile — a more flexible solution that puts creative freedom and control into the hands of advertisers to ensure that a community stays dynamic and interesting in between major campaigns and projects," Bryce Emo, senior vice president of sales at MySpace, said in a statement. "This new platform enables marketers to fulfill long-term communication strategies with consumers who engage in and friend their communities."