Economic models and how they help us understand digital production

  • A medium is any extension of ourselves
  • A message is the change of scale, pace or pattern of behaviour
  • A change in the medium is always a change in scale

After wrapping your head around these points from my previous blog post ( we can start to look at how two economic models can help us understand the logic of digital production and the network economy.

First of all, we need to acknowledge that advancement in technology has a big part to play when thinking about this topic. We’ve shifted from media where viewers were passive and unable to participate, to media such as the internet where viewers are apart of a broader conversation (are able to participate with the content).

The legacy (industrial) media economic model:

Eg. Radio, TV and newspapers.

  • The cost of production acts as a filter
  • Mass produced for a mass audience
  • High production cost and high risk of failure

Emergent media economic model:

Eg. Anything online.

  • Low production cost
  • Low risk of failure
  • No filter
  • For more of a niche audience

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