The document defines social media as internet-based applications that allow users to create and share content. It discusses that social media has changed how organizations, communities, and individuals communicate. Various types of social media are covered, including social networking sites, blogs, wikis, photo sharing, video sharing, and presentation sharing. Advantages include low cost, global reach, and contact building, while disadvantages are time consuming, risk of negative comments, and news spreads quickly. Statistics on popular social platforms like Facebook, YouTube, and Wikipedia are provided. The impacts of social media on relationships and businesses are also mentioned.