The Internet Has Transformed the Meaning of Media
|2.||Financial attrition for traditional media caused by increase of audiences reached||5|
|3.||Online media versions of traditional media||6|
|4.||„Winner takes it all“ – rise of Myspace, Facebook and Youtube – leading online media channels||7|
|4.1.||Music oriented Social Network Site - Myspace||8|
|4.2.||Social Network site - Facebook||9|
|4.3.||Video – sharing website - Youtube||10|
|5.||Young demographics traditional media problems caused by digital era||11|
|5.1.||Disappearance of traditional younger demographics traditional media||11|
|5.2.||Youtube killed the MTV star||12|
|6.||Record Companies in the new digital media era||14|
|7.||Artists in the new digital media era||16|
|8.||Consumers are in the power position now||18|
1.0. Internet caused shift of audiences from traditional media to online media.
Development of technologies and rise of the World Wide Web did change the traditional media environment and their interaction with consumers and business partners. New online media attracted wide range of the audience and became as a real alternative source of information and entertainment, leaving traditional media, like televisions, radios and printed press with decrease of their audiences. For example „in 1993, Americans spent an average of twenty-three hours and fifteen minutes per week tuned in to the radio. As of spring 2004, that figure had dropped to nineteen hours and forty – five minutes.“ (Anderson, C., 2006).
The same did happen to major TV shows in America. „Today, top-rated TV show C.S.I. is watched by just 15 percent of TV housholds. Those kinds of numbers wouldn’t put it in the top ten in seventies. The 2005 NBA playoffs rating reached near-record lows, down nearly a quarter from the year before. In 2006 the ratings for the Grammy Awards were off 10 percent. The 2006 Winter Olympics had its lowest ratings in twenty years, down 37 percent from 2002 Games in Salt Lake City. And the Oscars hit a ratings low not seen since 1987.“ (Anderson, C., 2006).
2.0. Financial attrition for traditional media caused by increase of audiences reached.
For the commercial media in particular decrease of audience caused the financial problems. Since public broadcasting media – radios and TVs are financed in most of the cases from the government, commercial TV, radio and printed media main income source comes from the advertisements.
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