Web 2.0 and User-Generated Content - New Product Launch
May 10, 2008
Thanks to Web 2.0, you and me can take our issues to the Web,
collaborate, argue, gossip, inform, intrigue, shock, awe,
even connive. So if you have a concern I can work on, bring
it online or if I have a proposal you and a friend of yours
can provide a solution to, post it. And yes, maybe you and
I may have one goal we share in common so it’s probably time
to collaborate. That’s how user-generated content became the
flagship of Web 2.0.
User-generated content
User-generated content, sometimes referred to as UGC or CGM
(Consumer Generated Media) refers to the type of content
published through media such as the Internet that is made
available publicly. The distinguishing characteristic of
user-generated content, as its name suggests, is that it
is created and produced by the users themselves.
User-generated content was first published in 2005 through
media content providers and web publishers. The prevalence
of this type of content emerged due to the expansion of
content production using technologies that were not only
becoming available but also offered convenience and
affordability. This was how blogs, vlogs, podcasts, wikis,
video and audio files, even files provided by mobile phone
technology began appearing online.
Free for all
Web 2.0 also produced user-generated content that was
unique in its distinguishing characteristic because they
were open source or available through flexible licensing
and free software. This allowed more people to collaborate
and produce reliable, quality content and provided even
more people with better access to more information.
As a result, research, news and even gossip became easier
to find, for free. And yes, it did give people more reason
to participate in even stronger collaborations. Talk
about giving the masses the key to discovery. And it
didn’t hurt that people got to test and improve their
skills as well.
Starting an evolution
It’s probably safe to say that Web 2.0 and user-generated
content changed many business models and even gave birth
to a few new ones. It has also made possible something
that was difficult to do just a few years back – eliminate
geographical issues and allow people from around the world
to work together nearly simultaneously and/or communicate
in real time.
It has also produced social networking and media sharing
sites that have since become part of our lexicon. There’s
MySpace, YouTube, Flickr, Photobucket and Facebook, just
to name a few. For the first time, regular people were
given the power to create and produce media content to
share with others. Better yet, they get access to the
same type of content themselves, without spending a dime.
Business models that thrived on Web 2.0 and user-generated
content have grown significantly since then. And their
growth seems unstoppable. It is estimated that these
businesses brought in about $1 billion in earnings in 2007
alone. This is estimated to rise to over $4 billion in
the next four or five years.
And many online and offline businesses have taken note.
Today, many companies are putting down some serious money
on developing their own user-generated content and making
use of Web 2.0 technologies. They are even spending just
to get a hold of research reports related to user-generated
content – who’s using it, for what purpose, which of the
users working online are producing content, what businesses
have entered the industry, how can user-generated content
be harnessed to tap its money-making potential, how much
are companies spending for advertising on user-generated
content sites, etc.
The future and user-generated content
User-generated content continues to create buzz, making
transformations that were unprecedented. How else could
have consumers themselves become partners and encourage
participatory activities? Experts and observers believe
it will continue to evolve, as more and more players
enter the scene. The only challenge probably is whether
or not users will find the collaboration a challenge.
Other than that, Web 2.0 and user-generated content will
continue its productive partnership for many years to come.
Here is where I normaly end for today.
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Posted by admin under General Stuff, Products, Social Marketing, Web 2.0 |
