Classmate's research presentation

Jongkyun's Impact of New Media on Korea was very informative. He explained how the Korean government has made an early commitment to infrastructure and high speed access to the Internet. Now it seems that Korea is on the leading edge of Internet usage and technology. In Korea people are watching TV on their phones while riding the subway. Not only are they technologically advanced, it seems that the social aspects of the web are in place as well. There is a government ombudsman for the web, Sinmungo and a private company (Netian) polices the web, protecting users from cyber fraud, stalking and hacking. The presentation gave a lot of insights into how the web could be properly managed and may evolve here in the US. I found it very informative on what may be the future of the web here.

Research Project

Hi all, for my project I took a look the future of old media. First I presented the total advertising spend for all media (which was close to $280 billion dollars in 2007) and how much of that was spent in each media. We found out that Internet spending was less than 8% of the total. I examined how radio (Q104 and WNYC), TV (NBC) and newspapers (New York Times) are using new media to stay competitive and where they may be headed. They are using new media pretty well but have not figured out how to reap the same profits online that they did in the old media ventures. A famous quote from Jeff Zucker of NBC is that he doesn't want to trade "analog dollars for digital pennies." I looked to Jeff Jarvis of CUNY Journalism school for insight into what the newspaper industry could do to stay in business. He believes that their business model needs to change and that the network would be the new model. What he does still believe though is that revenue will still be advertising based. I also mentioned that the economic crisis is severely affecting advertising income for all old media. I concluded with while the immediate future does not look good, I believe that old media will still be relevant in the future.

The Next New Thing in New Media

I am reallyoverwhelmed with what is available in the new media technology space as it is so it hard for me to imagine what will be the next new thing. I couldn't have anticipated the rise of social networking and twitter for anyone over the age of 30 but many of my friends and family are on Facebook on a daily basis. Also if I had a really great idea I probably wouldn't want to post it here for all to read. (A few years ago I had a great idea for something and later someone came up with the same thing!). I will predict that mobile will be the next platform with a payment system included. Paypal needs the competition! I think with the better security and encryption now available banks will be willing to get in to the digital payments space. I am sure there will be problems but the groundwork is being laid as we speak. New smart phones are becoming more affordable (Walmart is going to start selling the iphone) and many sites are working on an ID that works for many services. With cameras attached to the phones iris recognition or some sort of sophisticated security would be feasable. The banks could get in on the ground floor and make small transfers and transactions reliable and affordable. I know some of these features are available in other countries but for it to be in the world's largest economy (for now) it could be huge. This could also allow for small payments to be easily made to websites that are trying to monetize its content while not having it so tedious as typing in credit card and billing address information all of the time. I think there a lot of businesses that would be interested in this because now they are giving away a lot for free. Can you imagine? "Mom, can you text me 20 bucks!"