Tag Archives: facebook

The Future of the Media

I believe that the media will still be a very strong driving force behind how people get their information in the future.  I think that the new media culture and technology will still have a similar effect, if not a stronger one, on my peers and myself in the future.  Being a Strategic Communications major at DU, I have realized that many of my classes have taught me how to correctly operate social media sites to promote businesses.  Also, as an intern this past fall term, I was in charge of doing majority of the Facebook, Twitter, and blog posts that promoted the festival I was interning for.  A while ago, a major teaching you this line of work was unheard of.  Now, it seems to be a norm throughout many schools (however, they usually call it just Media Studies or Communications). This new major opportunity in colleges leads me to predict that the media will be a very important tool used by all companies in the future, as many are hopping on that bandwagon now.  I think that my peers and I will be using more types of social media outlets and seeing the news on mainly a computer screen in the future.

I think that the future of media and the lives of the future children will be a brighter outlook.  Though I spent most of my time outdoors as a kid and occasionally a computer/video game or two, I feel that the future generation of children will be spending much more time on the newer kid-friendly tablets that they are creating for children.  I will definitely still make my kids play outside, because that is the fun of being a kid, but I think that the new children will be very accustomed to the new technologies since it seems to be a trend that kids 8 years and older have tablets (once saw a 3 year old with an iPad; don’t know the logic behind that one).  The new program that is all over commercials, ABC Mouse, is a testament to how young children are using technology to further their education.  I feel that the new generation of kids will be extremely technologically savvy.

I also predict that many of the social media outlets, such as Facebook and Twitter, will be slowly filtered out to make way for newer and more efficient social media sites.  I also feel that there will be more social media sites in the future, which has the potential to complicate things.

What began as a futuristic way to send and spread information has now seemed to engulf many people’s lives in a swirl of different social media sites. I for see this trend continuing in the future.  I predict that different forms of media (typically technological media) expanding and the print media slowly dissipating. I hope print media does not die out entirely, but I see it fading into the background by the time our generation has passed on.

Facebook and the Social Media World

FACEBOOK

Owned by:

Mark Zuckerburg and other individuals

Microsoft owns 1.3%

Digital Sky Technologies owns 10%

Owns:

Instagram

Although the Facebook ownership map may not look big, in fact it only consists of one other company, but they dominate the social media sphere. After researching big conglomerate companies such as Disney and GE, I realize it is in no way on the “big 6” level, but I think it has potential to reach that level. Facebook bought out the rising photo editing and sharing application Instagram while it was booming and most recently attempted to buy out the ever so popular Snapchat, signs that Facebook is entering into the business side of social media.

The “big 6” may be huge conglomerates that own consumer products, media outlets, theme parks, film productions, and so much more, but what they lack that Facebook has invested in is the future generation. Apps such as Facebook, Instagram, Twitter and Snapchat have a potentially huge future awaiting them. Facebook does not have a concentration of ownership on the social media world yet, but they have and are clearly trying to attempt to monopolize the revenue of social media. Theories on why they bought Instagram consist of Facebook wanting to get rid of the leading competitor and to eventually create a revenue model for Instagram.

Facebook buying Instagram and attempting to buy out Snapchat shows an attempt at horizontal integration. If FB were to end up owning Snapchat and Twitter on top Instagram, they would have ownership across the social media sphere. The challenge with getting a monopoly on social media or of integration within the social media world is that new social media apps pop up daily and whether or not they will be successful is solely up to the users. So realistically a monopoly of this world would be impossible.

Just like with other media, especially newspaper as we discussed in class, Facebook’s main revenue comes from advertisers. If FB were to dominate the social media world, companies would only want to advertise with Facebook, which would result in synergy. No other company would be able to compete in the social media world unless they had many strong investors which would be unlikely because smart investors would invest in Facebook and the companies they own because they would be the successful ones.

What’s different about social media compared to news media is that the public creates the content so the fact that profit is the main goal for investors and owners has yet to cause a problem. News media only focusing on the business side results in poor content or infotainment. News media has a presence in social media, but it is completely up to the public what they post. Therefore I don’t see harm in concentration of ownership, but I also don’t think it is as realistic in the digital age. New application will be forever popping up and who knows which one will make it big.