Glossary- key terms and theory

Glossary

•  Video on demand-
• video content which can be assessed any time any where.

• Streaming/stream- 
• Live video through the internet as events happen with possibility for the audience to interact directly e.g., Twitch

• Microblogging- 
• a type of blogging which allows people to share short messages or updates online e.g., on twitter or threads. 

• Crowdfunding- 
• When people come together to fund a subject such as an independent film in order for it to succesfully be produced such as on gofundme. 

• Wikinomics- 
• (Tapscott and Williams 2006) using online colaboration to make buisness more easy. Traditional buisness modal (production, distribution, spending money interact with audiences) has evolved. More collaborations due to access to online technologies, broadband speeds for buisnesses and prosumers. 

• Globalisation-
• A brand being accessible/marketed all over the world due to the instant communication of the web.
• Makes it easier and cheaper for producers/prosumers
• We are all connected via the web
• Part of a 'global villiage' 

• Fan films- 
• people who are fans of things make a film on something they like.
• E.g., Batman: dead man
• E.g., Hunger games, haymitches games. 

• Citizen Journalism-
• when news is reported by the public e.g., a lot of the reporting of the BLM movement was reported by the public online as it wasnt being reported in mainstream media. 

Homework-

WIKINOMICS- an outcome of globalisation, the result of this is that we now have lots of opportunities to collaborate worldwide, anybody can do this (prosumers, media gods etc)

'wiki' means coming together, 'nomics' is economics which is how we produce and distribute our products. e.g., fan films (people collaborating to create this film), crowd funding (online, people collaborate to give them money which is spent on producing and distributing).

Apply the concept of wikinomics to real products/brands for a buissness and a seperate example of collaboration.  Use key terms globalisation, social media channels, prosumer. 500 words. 

One example of online collaboration would be the free editing software application 'GIMP'. Gimp was created by two university of california students in 1996, these students are uses of image editing software and they became prosumers by chosing to collaborate together to create their own free image editing software in order to help other students like themselves. There first version was GIMP 0.54 it only focused on basic functionalitys such as image manipulation and editing capabilities. As it began to gain attraction with users, its open source model allowed consumers to become prosumers and have the ability for them to contibute their skills and ideas in order to enhance the softwares capabilities. The attraction this sofware has gained is due to globalisation, it has caused this software to be accesed across the world by different creaters looking for a cheaper way to edit. Furthermore, it also gives them the ability to create these products along side using it in order to help this software, through online collaboration, to become better.  After this, GIMP was adopted by the GNU project in a collaboration. GNU project was a group which aimed to promote free software principles, therefore the collaboration of these two social media channels solidified its mission to make accessible tools for all. 

An example of wikinomics would be the collaboration of the brand KFC with television company 'lifetime'. Through this online collaboration the two companies created a 15 minute short film staring famous actor Mario Lopez. Eric Ecklmen, Armand Prisco and Natalie Prisco all colloaborated to produce and distribute this movie.The film subjects on mystery and suspense, although it's centre being the love for fried chicken and romance. This online collaboration was released on both social media channels and well received by 343k people on YouTube across the world via globalisation. Therefore, this online collaboration was successful for both companies as this was lifetimes first ever short film to be released and a different and interesting marketing technique for KFC that intrigued viewers. Before web 2.0, KFC was simply a food place where people would go to eat, however now due to globalisation and the inclusion of online collaboration, food companies like KFC can now collaborate with TV companies online in order to create a short film to promote their company; it also denotes the diversification in the market that is now avalible for companies like KFC. 

Finally, another example of wikinomics for a real product and brand could be the 2014 Australian indie horror film "The Babadook". This film was partially funded by crowdfunding, which enabled the film to have enough money for appropriate visual effects and set construction. It used the social media / crowdfunding channel Kickstarter for them to gain this funding, which is an example of collaboration between prosumers, as the audience would be collaborating by sending in money whilst the producers were able to market their film and produce it, using that money. Globalisation enabled them to produce this film due to the web allowing them to connect with audiences globally so they could fund this project. It was the first feature film from director Jennifer Kent, who was a prosumer, who collaborated with government bodies Screen Australia, and the South Australian Film Corporation.