1. The Key Elements of Wikinomics

2. Can you sum up the basic essence of Wikinomics? In one sentence In one word

3. Terminology of Online Media Technological convergence - CG Cross-media convergence - BH Synergy - AT Prosumer - SS New ecosystem - EG Creative Commons - JD Open source software - DW User Generated Content – AA Be ready to present for 1 minute on that topic next lesson with me!

4. Wikinomics = collaboration

5. Synergy Companies or various media sectors working together for the mutual benefit of both parties. Distribution company + Online organisation + Retail Organisation = Larger effect on release method = Synergy How could Disney be an example of a synergistic company?

6. Here is a partial list of the properties Disney owns in 2014: Features: Walt Disney Pictures Touchstone Pictures Disneynature Disney Animation Studios Pixar Lucasfilm Marvel The Muppets DreamWorks (distribution) Music: Walt Disney Records Hollywood Records Disney Music Publishing Destinations: Disneyland/Disneyworld worldwide Disney Cruise Line Disney Vacation Club Consumer Products: Disney Store Disney Baby The Baby Einstein Company Books: Disney-Hyperion Marvel Press Broadcasting: ABC Television Network ABC Family Worldwide Live Well Network A+E Networks (50%) Disney Channels Worldwide Radio Disney Disney Television Animation ESPN Inc. (80%) Hulu (32%) A+E Networks (50%), includes Lifetime and History Online/Interactive: Disney Infinity Disney.com Maker Studio Comics: Marvel Disney Comics

7. Synergy in the online age… Can you name any online media companies with synergistic connections? Apple and Beats Google, youtube, google play

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

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

10. 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?

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

12. Task – 10 mins Go online and explore www.ourstage.comwww.ourstage.com Be ready to explain how this site provides us with an example of peering.

13. Peering Radically different to the buy-sell attitude we’re 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 industry’s objectives?

14. 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

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

16. The Riots

17. If you don’t want to share? Hard luck: your business will suffer if you don’t The theory dictates that if material isn’t freely available in some form or another, consumers won’t be interested Do you agree?

18. 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 counter- arguments as to why they don’t really reflect how media is produced/distributed/consumed?

19. 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?)

20. 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

21. 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?

22. 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.

23. Wemedia Journalism Media futurists have predicted that by 2021, "citizens will produce 50 percent of the news peer-to-peer." However, mainstream news media have yet to meaningfully adopt or experiment with these new forms. Historically, journalists have been charged with informing the democracy. But their future will depend not on only how well they inform but how well they encourage and enable conversations with citizens. That is the challenge.

24. Wikinomics 4: thinking globally Because of Web 2.0, Tapscott & Williams say that thinking globally is inevitable. The internet is the ‘world’s biggest coffee house’ – a virtual space in which a new blog is created every second National and cultural boundaries are inevitably reduced

25. 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

26. 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

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

28. 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

29. Independent task Research your set topic by next lesson with me. You could create a prezi or powerpoint to help visualise your concept. Speak for at least 1 minute!