Emerging media and economy
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The video based on a slide presentation for a class on Virtual Economy about the current state of emerging communication technologies and their impact on economy.
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Emerging media and economy
- 2. State of Media State of Media report published each August. Available at http://ksmmedia.com
- 3. My state I
- 5. Convergence in production • Mass media + personal media = social media • Media formats (video + text +sound) Online textbook has a video, text, place for students’ comments, tests, games games, lectures
- 7. Mass media • Cord cutters– 5% - cord cutters • Nielsen report TV watching 4h 39 min per day • Print & hard copy vs. Digital
- 8. Personal media • Telephony – phone conference • E-mail/letters >blogs/tweets • Instant messaging, chat > videoconferencing or “hangouts” on social networking sites Move to “Masspersonal”
- 9. Social media
- 11. Altered reality • Google Glasses Mobile remotes
- 12. Virtual Reality
- 14. Economics • No “new economy” or new economic laws • Developing new business models for new media • Battle of Content providers with. platform providers • Omnichannel marketing • Borderless Economy
- 15. Dilemmas • Privacy • The quality of information • Monetization of social media • Great paywall • New IP laws
Editor's Notes
- This short video was created for the class on virtual economy. It presents current trends in emerging media and how changes in communication technology affect economy.
- Some data came from the State of Media report that has been published in August 2013
- This video is not completely based on analytical reports or statistical data but also on my experience with social media. I feel overwhelmed, constantly multitasking, looking for a platform that seamlessly integrates and brings together all digital communication channels. My job is a content curator so I have to be tuned in but since I am a researcher, I need to be tune out and let technology to mediate or curate the content.
- With rising use of new platform like mobile devices old media platforms are forced to converge or adjust to new market. On the left you see the pathways from prevalence of one- two platforms to multiple platforms and again the dominance of one transmedia platform that allows access to a variety of media channels
- We also can see the convergence of media production. People are not just consumers of mass media but creators. Personal diary became a blog, e-mail turns into twit and what was a communication between two friends became public.
- Convergence in use manifests itself on how we use communication devices and platforms. 62% of users watch TV and use a computer, 41 % use a phone. Our attention is divided between different channels. Another trend in media use reflects the convergence of platforms. People watch streaming videos from computer on TV, playing games within SNS or instead of using separate devices buy Apple TV.
- Mass media platforms are in the process of transformation. 86% of magazines have at least one app, all U.S. newspapers have online presence
- The growth, penetration and monetization of SM. Adapting platform for mobile devices. Making it as easy and quicker as possible to share content and create content. Cross-platform features and integrating these features.
- With mobile devices or Google glasses as the hub, information gathering becomes more centralized and adapted to personal needs. We receive instant information in exchange for privacy. The new functionality of our 'mobile remotes' utilizes advanced technology to simplify our lives.
- People augment the reality or escape into the virtual reality like this lady who in real life is an invalid but a hot young socialite in the Virtual world
- In this course we study Second Life which target adults, but real expansion in variety and markets is in virtual worlds that designed for kids and teens.
- If you are a scientist you do not proclaim ‘a new economic law’ based on the limited amount of observations or statistical data. Will supply and demand theory change with new communication technology on market? For me economics is a study of rational human behavior in their search to fulfill their needs and wants. So the key question is does human behavior change with new technology? Will it became rational? I do not see “new economy yet”, what I see common people’s needs satisfied by new types of communication technology. I see businessmen developing new business models and virtual enterprises. I see the battle between content providers and platform providers. Do you recall Stop Online Piracy Act (SOPA) and the Protect IP Act (PIPA) online protests on Jan 19, 2012? Newspapers vs. Google and Yahoo News? Open access movement in Scholarly communication. Marketers have to adjust to new media and learn how to use it. Social media became a synonym with marketing and marketing departments push open social networking sites to monetize the content and open users’ data. They work now across mass personal and social media channels adopting their strategy and using technology.The biggest change in economy that supported by emerging media is obviously globalization, flat and connected world of consumers who share their wants – virtual economy without borders.
- Writing, reading and watching are not private or solitary acts. The rise of digital books, self publishing (chatting or blogging, social networking) have prompted a profound shift in the way we read, watch or consumeinformation, transforming these activities into something measurable and quasi-public.