What is the Network effect? (Theodore Vail)
Then network effect says that a particular service or a value of a product increases as the amount of people using it increases. For example Facebook wouldn’t be as useful if as many people weren’t using it.
What is the ‘Feedback Loop Theory’ by Norbert Wiener?
A feedback loop is a concept found in systems theory. Feedback loops provide information to an organization about system successes and problems. Success results in a positive feedback loop and problems create a negative feedback loop.
What is the Dumbar number?
Dunbar’s number is a 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’
Businesses are more likely to benefit from a networked society as it allows them to target more than 150 (dumbar number), people are less likely to benefit from a networked society as their cognitive abilities suggest that they can be friends with up to 150 people (usually 10 people).
Key words associated with new media
| share | active | creative | host |
| story | re-connect | personalise | stream |
| experience | store | scale | immerse |
| interface | live | adapt | binge |
| conversation | re-perform | circulate | endless |
share – the process of publishing information within the internet or a social media
live – a form of media, usually auditory of visual that is in real life time parallel with the consumers
Active – when a person or media platform is frequently interacting with its internet activities.
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 |