Mobile ad network operator Millennial Media announced its latest product, the mmStudio ad creation platform. Via integration with 10 rich media vendors including Celtra, Crisp and others marketers can use the mmStudio tools, as well as a number of wireframes that are provided by Millennial, to design their own ads.

“Both consumers and advertisers have raised their expectations around mobile advertising, and brands need a platform partner that will allow them to deliver on these expectations, and drive true engagement whether it be with the ads we create, the advertiser creates or via our rich media partners,” said Jamie Fellows, SVP, Product, Millennial Media.

Millennial promises to boost viewer engagement by providing a handful of interactive components with colorful names: “Mobile Circular” provides the room to advertise up to 20 products in a single creative, while “Smash It” is an interactive game template that keeps records of users’ scores and allows them to share them via their social networking profiles (thus driving more traffic to the ad.) In addition, some other (self-explanatory) components such as the (The Cube), “360° View” and “Media Gallery” are also made available to marketers.

mmStudio is the Millennial’s latest effort to further stretch and monetize its ecosystem, all while the competition in the mobile ad market is heating up. A recent IDC report concluded that  Google AdMob is the largest Android ad network(perhaps not so surprisingly), followed by Millennial.

The company’s previous product was in October, when it released the latest versions of its Android and iOS SDKs. Millennial rolled out new features to its developer site along with the SDKs, most notably ClientsAd, which introduced a new opportunity for developers to monetize their ads. Enhanced analytics and other improvements were also released with the October update.