Creating and Distributing Via Social Media

Creating and Distributing Via Social Media

Wikinomics

This theory was developed by Tapscott and Williams in 2006

Wikinomis - The theory and practice of mass collaboration using electronic communications and how relationships between businesses and markets has changed as a result

How Mass Collaborations Changes Everything

• Translated into more than 20 languages and named one of the best business books of 2007 by reviewers around the woes, Wikinomics has become essential reason for business people everywhere
• In the last few years, traditional collaborations - in a meeting room, a conference call, even a convention centre - has been superseded (replaced) by collaborations on an astronomical scale
• Today, encyclopaedias, jetliners, operating systems, and many other items are being created by teams numbering in the thousands or even millions
• While some leaders fear the heaving growth of these massive online communities, Wikinomics proves this fear is folly. Smart firms can use collective capability and genes to spur innovation, growth, and success.
• Based on a $9 million research project, Wikinomics shows how the masses of people can participate in the economy like never before. They are creating TV news stories, sequencing DNA, remixing their favourite music, designing software, finding a cure for disease, editing school texts, inventing new cosmetics, and even building motorcycles
• An import look into the future, Wikinomics is the road map for doing business in the twenty-first century

The Long Tail Theory

Devised  by Chris Anderson of Wired magazine

First published in 2004, then as a book in 2009

Concerns mass vs niche products and audience

The Long Tail Theory

• Traditional mass products are being replaced by niche digital products. A greater variety of niche products generates more profit and income for companies
• Marketing was a one size fits all, blockbusters (action for all men, romance for all women). There are now many niche products, and the long tail theory exposes that as so many products are now available to audiences. Audiences are no longer satisfied by products that appeal to everyone
• Shops (retail) have limited shelf space but online retailers (Amazon, iTunes, Netflix) can sock virtually anything - A physical shop is much more likely to stock hits (Blockbusters, top 10 chart songs) whereas Amazon and iTunes can stock everything. Therefore, the millions of niche sales created outnumber the sales of the hits

  This is what makes the long tale move valuable

• When consumers are offered infinite choice, the true share of demand is revealed and it turns out to be less about the ‘popular’ products and more about niche products as they satisfy narrow interests better
• Products at the head of the tail were the most accessible to audiences, but as technology has enhanced, more niche products became more accessible to us as audiences
• Popular products at the head of the tail shift in demand from audiences and are replaced by a ‘long tail’ of niche products over time
• The red part of the curve are the hits, which have dominated our markets and culture for the most part of the century
• The orange part is the non hits/niche, which is when’re the new growth is coming from now and in the future

Case Study: Casey Pugh - Star Wars Uncut

An example of a fan film

This is a film created by fans of a particular film, who are not officially commissioned to do so

This is an example of home online technologies are enabled a ‘participatory culture’ (Henry Jenkins, 2006), in which audiences can now participate (presume) in the productions and meaning of cultural products

Uses Vimeo as a social media cannel in order to reach fans: encourages fans to contribute to his film project

Creates his own website for Star Wars Uncut, in which fans can select the 15s section of the original film they wish to recreate

Social media is uses by Pugh to gather the footage

The footage is shared via the website, and a trailer is also posted on Youtube

“How did I find out about this film? A quick Google search led me to a Looper video on YouTube entitled 10 Fan Films better than big budget blockbusters. I selected the Star Wars example from this”

He made a website

Cut the film in 15 second clips

Got exposure for his project

And people sent in their videos

This is an example of crowdsourcing, when media producers use online technologies to ask for staff or volunteers with specific skillset to work on a project

Compare how two online technologies can be used to support media producers plan their products

One online technology which could be used to support media producers is Monday.com. This website allows you to create an editable Gantt chart that you can send out to employers so they can let you know how far a long they are with their task and if they’ve finished or not. This is helpful to media producers planning products as they can see these updates from their employees on any device as long at they’re signed into the same google account on each device they’re using.

Another online technology to aid media producers is Microsoft teams. This platform allows people to send editable documents to each other as well as being used as a video conference platform. This could seriously help media producers plan their products as they can converse with employees, and send documents back and forth with the ability to edit and change the contents, as well as being able to plan conference video calls which has to option to share screens which will automatically be put in their digital calendars. 

These online technologies can both be very useful to support media producers plan their products as they are both edible by everyone involved, and can be accessed from any device logged into their google accounts at anytime.

Peer assessed by Paige 

WWW- A good comparison of the two online technologies with examples

EBI- I think this is very well written and could not be improved further in my opinion. 

Mark- 8/8