http://www.emarketer.com/Article.aspx?id=1006142
This article in emarketer talks about how businesses believe that ad dollars are going to move towards and/ or be displace by user generated content. These statistics overlap with the comment Professor Kagan made about how people trust other people's opinions more than any other source, i.e. stranger's comments. I find that very interesting from a psychological perspective, just in terms of how we attribute authority to a voice and it markedly alters the meaning of what is said. When there is a voice that cannot be attributed, it can bear down more weight because it cannot be disparaged by ulterior motives or our perception of biases. However, that is a tangent.
An interesting statistic is that 70% of online marketers said "Yes, media is in trouble and will lose dollars to user-generated content." It's interesting how powerful "group genius" is, and how the Internet has facilitated collaborative forces to the point where even advertisements are user-dependent. Although, it seems that the user base is misleading in light of some of the statistics mentioned. For example, how a very small percentage of Wikipedia users actually generate the articles or seriously edit them or how on Digg so few people are responsible for the articles posted compared with the readers. This shapes how reliable user-generated content is and will probably be an issue for future perception.
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