Knowledge & Attention in the iTunes World

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Knowledge & Attention in the iTunes World

  1. 1. Attention Economy & Knowledge Economy in iTunes<br />1<br />
  2. 2. Attention Economy<br />
  3. 3. ATTENTIONECONOMY<br />3<br />
  4. 4. ATTENTION ECONOMY<br /><ul><li>The concept of an attention economy has become more important with the increase in our day to day dependence on the internet and the sheer abundance of information available to us, but it is a concept that has been around for a relatively long time.
  5. 5. The idea behind the Attention Economy is to create a marketplace where consumers are happy, because if they are shown relevant information - then retailers are happy too, because happy consumers spend money!</li></ul>4<br />
  6. 6. ATTENTION ECONOMY<br /><ul><li>Attention economy refers to the phenomenon of gaining financial return through receiving attention - from viewers, consumers, prospective business partners, investors etc. 
  7. 7. Whatever the company is selling or doing comes in second to the process of gaining attention (Goldhaber, 1997) and it is important to remember that the rule with attention economy is money often comes from attention, but money cannot buy attention (Goldhaber, 1997; Gauntlett, 2004). </li></ul>5<br />
  8. 8. ATTENTION ECONOMY<br />There are different ways of how the attention economy promotes iTunes: <br /><ul><li>Information </li></ul> Information gets our attention. They are easily shared and thus the Net takes our attention and getting these attention makes wealth.<br /> For example, Apple announced the release of the iPad, and along with it they were introducing a new app for it called iBooks in February 2010. This application allows any user to connect directly to the iTunes book store, called iBooks. Users can also download books from the iBooks store.<br />6<br />
  9. 9. ATTENTION ECONOMY<br />There are different ways of how the attention economy promotes iTunes: <br /><ul><li>World of media, bombarded by advertising</li></ul> Our attention is diverted towards media through advertising, newspapers, magazines, television, radio, cinema and others. In some ways they are spreading their message by getting our attention. Websites that are well-known and visited by millions of people has a high value simply because of advertisers.<br />7<br />
  10. 10. ATTENTION ECONOMY<br />There are different ways of how the attention economy promotes iTunes: <br /><ul><li>Money flows towards attention – how?</li></ul> The User sharing library of iTunes is being shared over a local network using the closed, proprietary Digital Audio Access Protocol created by Apple itself. Any User could freely access shared music anywhere over the Internet, in addition to one's own subnet, by specifying IP addresses of remote shared song libraries.<br /> Moreover, some start by giving away on the Internet to have success. For example, Netscape built up a huge user-base for its web browser by giving it away.<br />8<br />
  11. 11. ATTENTION ECONOMY<br />There are different ways of how the attention economy promotes iTunes: <br /><ul><li>How to get noticed in the attention economy?</li></ul> In fact, companies, websites and others do not get attention on the Internet because they have lots of money. For some instance, this money can bring them diverting multimedia and promotion to their website but if the website has no engaging content, it will not win attention.<br /> “Attention first then money follows!”<br /> In a full attention economy practically all organizations will be basically temporary, either communities in which attention is shared around pretty equally, or, more often, entourages of fans who form around one or a few stars to help them achieve the performances they are attempting.<br />9<br />
  12. 12. THE KNOWLEDGE ECONOMY<br />10<br />
  13. 13. KNOWLEDGE ECONOMY<br /><ul><li> "The advent of the new economy was first noticed as far back as 1969, when Peter Drucker perceived the arrival of knowledge workers. The new economy is often referred to as the Information Economy, because of information's superior role (rather than material resources or capital) in creating wealth (Kelly, 1997).
  14. 14. The knowledge economy helps iTunes to develop itself on the Net and among people. In some words it helps iTunes to promote itself through advertising, news articles, videos, music and others.</li></ul>11<br />
  15. 15. KNOWLEDGE ECONOMY<br /><ul><li>As knowledge and communication empowers customers, it is the combined experiences of many being fed backing into the commercial experience that allows shoppers to rely less and less on traditional sales channels and make their owning buying decisions.
  16. 16. As a result competition increases, prices fall and dynamics change. However in the end when prices stabilize, it is knowledge and it is transfer that will be of highest value. </li></ul>12<br />

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