Essay: Internet and web based Media
The development of the internet in the 1990 was in its infancy and growing. It got the initial boost when its potential was realized. People started their businesses online and larger businesses capitalized in this new found market to approach consumer’s world wide using this relatively cheap forum. There was this massive boom in this industry. Capital flowed in quickly and in a short decade, this forum for accessing information was maturing into a proper media form. World wide news giants which had used television the television before, quickly saw the opportunity and opened parallel websites to their news channels thereby tapping into the new younger consumers and also enabling the consumers alternative resources of information. (Changing Media Orientations: Where to reach today’s Consumers, 2007)
“The arrival of this medium is proving to be extremely disruptive. It is challenging the media industry status quo with huge discontinuities, not the least of which is the rise of a range of new players, some that aren’t even media companies in the old sense. In 2005 the search company Google sold more than $6 billion dollars in ads, nearly double what it sold the previous year. This is more advertising than sold by any newspaper chain, magazine publisher or television network. In 2007, Google is estimated to have advertising revenue of $11.8 billion dollars. This would place it fourth among American media conglomerates in total ad sales after Viacom, the News Corporation and Disney, but ahead of NBC and Time Warner.” (The Technology and Media Transformation of our time compared to broadcast TV, 2008). This shows the great extent, to which this new media has created a source of huge businesses.
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