New technology can often be disruptive. But the pace of change in information technology over the past few years, and the speed with which technology has has been adopted by Generation Y, poses particular challenges for business in general, and for media companies in particular. What has become known as Web 2.0—a somewhat overused term that refers to a second generation of internet-based services (such as social networking sites, wikis, communication tools, and folksonomies) that emphasize online collaboration and sharing among users—has upset the hierarchy among media companies in a few short years.
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