JMM 632: Social Networks/Media Flashcards
what are the pros of a tiktok ban?
Protect U.S. national security against foreign adversaries or hackers
Content censorship
Algorithm manipulation
Data privacy concerns
Regulators believe that ByteDance could spread influential content on the app to serve the interest of the Chinese government
Risks of influencing citizens in U.S policy matters (Trump vs. Harris campaign)
defamation
addiction & negative impact on children
what are the cons of a tiktok ban?
creators can monetize content
popular entertainment
freedom of expression
difficult to replicate TikTok algorithm
What are the three main arguments against divestiture in TikTok’s petition? Do you agree or disagree with these arguments? Explain why so or not.
Divestiture is the action or process of selling off subsidiary business interest or investments. The three main arguments are:
- A new U.S type of TikTok platform would not be commercially viable
- Code -> TikTok argues it’s impossible to move the code to a new platform
- Chinese government has stated they have no intention to sell
Agree because ByteDance has stated it would be extremely difficult to replicate TikTok’s algorithm and collect all the data that TikTok engineers have collected from American users for many years.
Explain the distinction between social media and social networking sites.
Social media refer to forms of electronic communication (like websites for social networking and microblogging) through which users create online communities to share information ideas, personal messages, and other content (as videos).
Social networking sites refers to the creation and maintenance of personal and business relationships online.
Define network effects
a business principle or the idea that when more people use a product or service, its value increases.
Define switching costs
the burden incurred by customers from switching providers, which can reduce churn by making it more difficult and less appealing for customers to switch to a competitor and act as a barrier to new entrants
Define continuous innovation
Normal upgrading of products that does not require a change in consumer behavior
Define creative distribution
the practice of using innovative and non-traditional methods to deliever media content to an audience, going beyond standard distribution channels to reach new demographics and maximize engagement by utilizing unique strategies and platforms
What is the market structure of the social networks? Why? Explain the five characteristics of this model for the social networks (number of firms, type of product, barriers to entry, control over price, concentration)
One could argue it’s an oligopoly because there’s only a few firms dominate the market. Even though there’s different platforms in the market and they each offer a different type of content/service (heterogeneous), they’re all own by big corporations (like Meta owns Facebook, Instagram, WhatsApp, Messenger, Threads). There’s barriers to entry
What is Section 230 of the Communications Decency Act? Should we rewrite it? If so, how?
Protects online service providers like social media companies from lawsuits based on their decisions to transmit or take down user-generated content. Examples include defamation on social media apps, users sharing inappropriate or explicit content (deepfakes), etc. Allows online platforms to moderate content without being sued for everything they leave up. Basically, revolves around the principle that we should all be responsible for our actions and statements online.
what’s the revenue model for social networks?
advertising and subscriptions
Cost per thousand impression formula
cost of the ad(s) / (impressions/1000)
What does cost per thousand impression mean?
the amount of money an advertiser pays for every 1,000 times their ad is displayed
how does creative distribution apply to the media business?
Schumpeter (1950) argued that the positive economic profit that a monopolist may enjoy in the long run motivates outsiders to invent and innovate to obtain access to these profits.
