The document discusses the evolution of media from traditional broadcast channels to new forms of user-generated content, social networks, and personal platforms. It describes how new media allows for more choice, customization, interactivity, and targeted advertising for consumers. While television will remain important for mass audiences, new media is more popular among younger viewers and enables a more diverse array of cultural content through the "long tail" effect. Regulatory issues around intellectual property, privacy, hate speech, and defamation may also arise from new media platforms.