Terminology Recap

Technological convergence Cross-media convergence Synergy Web 2.0 Prosumer New ecosystem Creative Commons Open source software Democratisation UGC

The Key Elements of Wikinomics

Can you sum up the basic essence of Wikinomics?

In one sentence In one word

Wikinomics = collaboration

Remember
Tapscott & Williams (2006) Wiki = a page on the web which multiple people can edit and amend Wiki = now a metaphor for collaboration Wikinomics = the economics of collaboration

7 new models of mass collaboration

Peering Pioneers Ideagoras Prosumers New Alexandrians Platforms For Participation The Global Plant Floor The Wiki Workplace

Task
Read through your theme. Try to condense the information into some key points on a PowerPoint slide. Try to use your own examples. Be ready to explain the theme to the rest of the class.

The 4 Wikinomic Principles

Wikinomics 1: Peering
Free sharing of material on the internet This changes economics beyond recognition why?

Positives of Peering
For companies, it cuts distribution costs to almost zero. How does this happen? Can you think of an example related to music?

Negatives
Bad news for people who want to protect their creative materials

Task 10 mins
Go online and explore www.ourstage.com

Be ready to explain how this site provides us with a good example of peering

Peering
Radically different to the buy-sell attitude were used to from the music industry Record labels are forced to depart from traditional methods in order to secure success Do you think this practice is widespread? How does peering work in opposition to the music industrys objectives?

Peering with Online News

Collaboration online allows for news stories to grow and develop Sharing material online allows for greater understanding of current affairs and allows consumers to become involved News stories are instantly available

Guardian.co.uk
Unlike the paper version, users are able to comment

The Riots

If you dont want to share?

Hard luck: your business will suffer if you dont The theory dictates that if material isnt freely available in some form or another, consumers wont be interested Do you agree?

Recap
What was the first principle of Wikinomics? Can you name TWO examples we looked at to support the claim? For each of these, are there any counterarguments as to why they dont really reflect how media is produced/distributed/consumed?

Wikinomics 2: Free Creativity

Individuals creating, adapting, editing, changing existing media Positive, natural outcome of the free market trying to regulate and control online remix activity is impossible to stop (why?)

Music Industry
Also known as fan-fuelled creativity Mash-ups, ringtones, remixed tracks, fan videos Digital files can be opened easily by music software and edited

From the music industry blog

The late 20th century revolved around mass production and distribution of fixed, physical music formats. But as physical media formats die away to be replaced by modifiable digital alternatives, the early 21st will become increasingly characterized by mass customization of music. The creator-fan effectively turns music into open sourced software, where the original song is simply release version 1.0. An artist and her label can either embrace or fight this dynamic, but either way it will happen regardless.

Creative Commons
A way to licence content in order to protect Intellectual Property Allows for the original rights of a song to be retained whilst giving open permission for others to adapt and remix Benefits of this? Where would opposing it get you?

Wikinomics 3: Democratisation
Tapscott & Williams say that both peering and free creativity have democratised media in a completely new way They also say that we media journalism contributes to this democratisation.

Task
Person A: write half a page which supports these claims, giving examples Person B: write half a page which dismisses these claims, giving examples

Wikinomics 4: Acting Globally

Because of Web 2.0, Tapscott & Williams say that thinking globally is inevitable. The internet is the worlds biggest coffee house a virtual space in which a new blog is created every second National and cultural boundaries are inevitably reduced

Task
1) List as many different ways as possible you can communicate with someone in Singapore over the internet 2) Identify which of these would lend themselves to music production or distribution, adding if necessary 3) Identify which would lend themselves to news / journalism production and distribution

Wikinomics 5: A Perfect Storm

Created by the following things combined:
Web 2.0 Demographics (young digital natives) A global economy (all companies must think internationally now that boundaries have been broken down)

The force of this, according to T&W, is impossible to resist

 Thus, operating a business without utilising the internet, and particularly Web 2.0, will result in failure

What to do with this theory

Make sure you understand it Have examples you can apply to the different principles Be able to evaluate and criticise