1. A system for customizing a communication network, the system comprising: a network storage device accessible via said communication network and containing at least one announcement; a ringback update system in communication with said network storage device wherein said ringback update system is capable of analyzing a call made from a caller to a communication handset of or associated with a called party and comparing incoming identification information associated with the call to ringback settings associated with said communication handset or said called party; a message generator in communication with said ringback update system wherein said message generator is capable of playing at least a portion of one or more announcements stored on said network storage device to the caller, in accordance with at least one of said ringback settings; wherein said system for customizing a communication network is capable of determining if said called party is subscribed to said ringback update system and authorized to modify said ringback settings; wherein, if said called party is subscribed to said ringback update system but is not authorized to modify said ringback settings, said system for customizing a communication network is capable of receiving from said called party, via said communication handset, information to establish authorization for said called party to modify said ringback settings; wherein if said called party is not subscribed to said ringback update system, said system for customizing a communication network is further capable of receiving from said called party, via said communication handset, information to establish a subscription to said ringback update system; and wherein said system for customizing a communication network is further capable of receiving from said called party a plurality of requests to modify one or more ringback settings without processing said requests at the time the requests are received, storing said requests, and processing said requests after a final request is received from the called party.