In February 2013, MySpace opened in beta a new network for connecting musicians and other artists with the world. But is it right for your brand? Engauge’s latest report, the “Myspace Skinny Paper,” includes a handy checklist to help you decide.

(We’ve made it more quiz-like for your convenience.)

Lifestyle Orientation

Is your product or service all about the lifestyle?

Examples: fashion, beauty, fragrance, cars, spirits, magazines, travel, food

Creativity

Is your brand known for its creativity?

Examples: Sharpie, Coca-Cola, Virgin Airlines, BMW, Absolut, MINI, Nike

Aspirational Attributes

Do people aspire to own your product? Does your brand have a quality that people want to emulate, such as being earth-friendly?

Examples: Porsche, Prada, Trump; or General Electric (“Imagination at Work”), Habitat for Humanity, fair-trade companies

Ties to the Arts

Are you in the music, art, photography, or film industry? Do you work with the film studios, theaters, music venues, labels, art studios and suppliers who would likely be using the new MySpace?

Examples: Nikon, Sony Pictures, AMC Theatres

If you answered yes to any of the following, MySpace might be an option for you. The new format emulates other sites like Pinterest and Twitter in the sense that it connects users by their mutual interests rather than their friendships in the real world.

But be warned: “Like any social network, brands should only enter the space if they’re willing to make a commitment,” writes the Engauge team. ”And because Myspace isn’t overtly ‘ad friendly,’ brands have yet another hurdle to overcome: being uniquely right and relevant for the social network’s essence. In fact, Myspace has no plans to include display advertising. That means they may be determining if they want to work with a brand on a case-by-case basis, so those first few relationships could be very picky and very exclusive.”