Theorist fact files

Theorist fact files

• 1.
  Holly Fairbairn
• 2.
  His six bigideas explain whyWeb 2.0 has had such a huge impact:  User generated content  The wisdom of the crowds  Data on an epic scale  Architecture of participation  Network effects, power laws & the long tail  Openness
• 3.
  LongTailTheory:  Culture andeconomy is increasingly shifting away from a focus on mainstream products at the head of the demand curve and toward a huge number of niches in the tail.  In an era without the constraints of physical shelf space and other bottlenecks of distribution, narrowly-targeted goods and services can be as economically attractive as mainstream fare. Examples:  A key example of this in the media is in terms of gaming as many consumers are showing a preference for niche games online rather than buying console games from stores.  Another prime example is in the film industry as web 2.0 sites such as kickstarter allows people to share and view their own niche productions rather than the mainstream films you can buy in store. Relevance:  This theory has high relevance asWeb 2.0 makes it easier for more people to search for and buy a wider variety of products which has resulted in a shift away from mainstream products
• 4.
  We think:  Morepeople than ever can participate in culture, contributing their ideas, views, information.  The web allows them not just to publish but to share and connect, to collaborate and when the conditions are right, to create, together, at scale. Examples:  A prime example of this theory in the media is the music industry as there are now streaming websites both for profit and otherwise such as ITunes where people can not only publish their work but can buy and comment on them also.  Another key example is in the news sector as web 2.0 websites such as social media allow people to contribute their thoughts on the news as well as comment on the news websites. Relevance:  This theory has good relevance as web 2.0 has allowed people to contribute their ideas and views to websites such asYouTube andWiki’s to collaborate on a larger project as well as share their views on existing products.
• 5.
  Wikinomics:  The effectsof extensive collaboration and user-participation on the marketplace and corporate world.There are four principles:  Openness - open standards, content and attitudes towards external ideas and resources  Peering - replaces hierarchical models with a more collaborative forum.  Sharing - less proprietary approach to products, intellectual property, bandwidth, scientific knowledge e.t.c  Acting globally - embracing globalization and ignoring "physical and geographical boundaries" at both the corporate and individual level. Examples:  Key examples of this is in theTV and film industry as streaming websites such as Netflix allow consumers from all over the world to view programmes and films that were only originally shown in one country. Relevance:  This theory has some relevance to media as many streaming websites allow people to act globally in both their producing and their consuming in different industries. However, copyright still restrains sharing of products.
• 6.
  We Media:  Afew big media corporations cannot control the news we get any longer, now that news is being published in real-time, available to everybody, via the Internet. Examples:  A key example of this is in the news as web 2.0 has allowed people to have a lot quicker access to the news and to share their opinions through social media rather than some aspects of the news being kept from people.  Another example of where this theory applies is the film industry as many aspects of certain films can be leaked via the internet that aren’t meant to be released, providing a hinder for many big projects. Relevance:  This theory is quite relevant as many industries can be effected by the news being online as specific news that companies don’t want public can be easily linked and spread quickly through the internet.
• 7.
  Newspapers, Paywalls andCore Users:  Online distribution has changed the newspaprer industry from a mass market product aimed at a mass audience to a niche product aimed at a niche audience.  The news as a bundle of mixed content doesn’t work online where people will only access the pages of interest to them. Examples:  This has a big impact on the news as due to these changes and the audience's attitude that material should be available for free online, the news industry is faced with a crisis over how to secure revenue. Relevance:  This theory has limited relevance to media as it only really applies to the news industry rather than applying to more than one.
• 8.
  The machine ischanging us:  Web 2.o allows us to connect with more people and to be part of a global community.  The way we communicate online is different to how we communicate using other mediums.This can be explained by our anonymity and the physical distance from those we communicate with.  Web 2.0 has made big changes to society and established ways of doing things.  These changes have implications for privacy, commerce and ourselves as a whole. Examples:  A key example of this is in the news industry as the internet reveals private information about celebrities which are then commonly shown on news websites.  Another example of this is in the gaming industry as due to the internet many games have an online chat room where you can talk with other players no matter where in the world they are. Relevance:  This theory has high relevance in regards to the media as due to the online age we live in, many forms of media now have ways of communicating with other people around the world.