share	active	creative	host
story	re-connect	personalise	stream
experience	store	scale	immerse
interface	live	adapt	binge
conversation	re-perform	circulate	endless

live – new stories and articles are posted regularly that people can see as they’re posted

stream – there is links to videos and music that you can stream onto your device

endless – the website is constantly being updated, there is no set finish to the digital magazine

the difference between old and new media

NEW MEDIA	OLD MEDIA
Active involvement	Passive involvement
Two-way conversation	One-way conversation
Open system	Closed system
Transparent	Opaque
One-on-one marketing	Mass marketing
About Me	About You
Brand and User-generated Content	Professional content
Authentic content	Polished content
FREE platform	Paid platform
Metric: Engagement	Metric: Reach/ frequency
Actors: Users / Influencers	Actors/ Celebrities
Community decision-making	Economic decision-making
Unstructured communication	Controlled communication
Real time creation	Pre-produced/ scheduled
Bottom-up strategy	Top-down strategy
Informal language	Formal language

Live: Articles and stories can be consistently updated online.

Endless: Constant articles to read online as you have old and new editions.

Active: Electronic devices used for media may be active; whilst paper magazines are not.

share	active	creative	host
story	re-connect	personalise	stream
experience	store	scale	immerse
interface	live	adapt	binge
conversation	re-perform	circulate	endless

share	active	creative	host
story	re-connect	personalise	stream
experience	store	scale	immerse
interface	live	adapt	binge
conversation	re-perform	circulate	endless

Re-connect: This word can relate to teen Vogue because it re-connects teens with the everyday media and what they find interesting.

Binge: This word can relate to teen Vogue because people like to binge different news articles from the website as they can be interesting.

Story: This word can relate to teen vogue because they publish stories and articles of everyday life of people.

Table to contrast ‘New’ vs ‘Old’ Media: Do you agree?

NEW MEDIA	OLD MEDIA
Active involvement	Passive involvement
Two-way conversation	One-way conversation
Open system	Closed system
Transparent	Opaque
One-on-one marketing	Mass marketing
About Me	About You
Brand and User-generated Content	Professional content
Authentic content	Polished content
FREE platform	Paid platform
Metric: Engagement	Metric: Reach/ frequency
Actors: Users / Influencers	Actors/ Celebrities
Community decision-making	Economic decision-making
Unstructured communication	Controlled communication
Real time creation	Pre-produced/ scheduled
Bottom-up strategy	Top-down strategy
Informal language	Formal language

The relationship between businesses and individuals is now mostly through digital networks. A digital networked society is changing how individuals live, work, travel and socialise – therefore benefit them, however it is likely to benefit big organisations more. The data of an average American is worth between $0.20 and $0.40. Organisations can sell this data to generate more money for the business, Facebook for example has around 190 million users in the U.S., so it is estimated that Facebook can make between $38 million and $76 million from selling its users data. The loop theory can be applied to the digital network; people now pick up their phones without even thinking about it, therefore if you open a site eg facebook, they will be able to know what times you’re on your phone and where you are etc. After a while, these organisations will be able to record and then predicted an individuals behaviour.

Who really benefits from a digitally networked society? Big business or individuals? Refer to ‘loop theory’ and the ‘Dunbar number’?

I believe that big businesses are more likely to benefit from a digitally networked society. This is because people use their sites, they are able to connect with millions of people who can give feedback which then the businesses are able to continue to develop their products. This gives the people what they want which means that even more people will begin to use their products and it will keep looping. This means the businesses can draw in even more people and it keeps looping.

How does big business benefit? What commodity do they trade in? Answer: predictive human behaviour. Write out an answer in your own words.

Who really benefits from a digitally networked society? Big business or individuals? Refer to ‘loop theory’ and the ‘Dunbar number’

In general, big businesses benefit from a digitally networked society more than individuals. Having society digital means that big companies have easy access to peoples personal data and are therefore able to track their behaviors in order to advertise their products to the consumer at a specific time or place. This relates to Norbert Weiner’s loop theory as this says that through tracking media, companies can target their desired customers.

How does big business benefit? What commodity do they trade in? Answer: predictive human behaviour. Write out an answer in your own words.

Big businesses benefit through predictive human behavior as they are able to predict what specific people eill

• Who really benefits from a digitally networked society? Big business or individuals? Refer to ‘loop theory’ and the ‘Dunbar number’
• Large businesses benefit mostly from a digitally networked society because of ‘the loop theory’, this theory suggests that there can be many links just from one business to another helping businesses grow and evolve. However the dunbar number suggests that one individual can only have so many stable social links with people implying that an individual will have a lot less links than a large business.
• How does big business benefit? What commodity do they trade in? Answer: predictive human behavior.
• Big businesses benefit because it means they can have a lot more links with other businesses making trading easier and profits for that business higher.
  

On one hand, big businesses benefit from digitally networked societies are they are able to maintain their popularity by using different media platforms to advertise and connect. However, it can be useful for individuals for self promotion just on a much smaller scale.

Network Effect – Theodore Vail

Network Effects describes the phenomenon how the value of a good or service increases as more people start to use that good or service.

Feedback loop theory – Norbert Wiener

States that a person has habits and interests, which can be found out and used by media companies to target and market media to consumers based on their interests and habits. This is more effective than targeting non-specific adverts or media at consumers as it is more likely to grab their attention.

Dunbar number

Suggested cognitive limit to the number of people with whom one can maintain stable social relationships—relationships in which an individual knows who each person is and how each person relates to every other person.

Who really benefits from a digitally networked society? Big business or individuals? Refer to ‘loop theory’ and the ‘Dunbar number’

Key words associated with new media

Active – frequent user of new technology, more people use technology nowadays. notifications keep you updated and using the app/software

Circulate – spread a product so more people will buy – Teen vogue circulates magazines online to enlarge their audience

What is the Network effect (Theodore Vail)? The Network effect is where a good service gains value as more consumers use it.

Feedback Loop Theory is where one tracks positive and negative feedback, so they can use this and continue to develop their current product.

What is the Dunbar Number? It’s how many people you can maintain a social stable relationship with. The theory is that most people can maintain 150 people.