E-commerce 2023-2024: Business and Technology Trends

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Questions and Answers

What is the primary trend in the revenue model for digital content delivery?

Increase in one-time purchase options

Growth of advertising-supported models (correct)

Decline of digital music sales

Shift to subscription-only models

How much time does an average adult spend consuming media per year?

Around 6,000 hours

Over 3,500 hours

More than 5,000 hours

Approximately 4,800 hours (correct)

Which statement best describes the trend in e-book sales?

E-book sales growth has stabilized. (correct)

E-book sales are declining significantly.

E-book sales are rapidly increasing.

E-book sales are expected to dominate traditional publishing.

What factor contributes to time spent on digital media exceeding that spent on TV?

Increasing diversification of media platforms Signup and view all the answers

What is a key trend regarding mobile platforms in content distribution?

Mobile platforms are becoming content distribution platforms. Signup and view all the answers

What is a significant factor affecting the online entertainment industry?

Rise of technology companies in content production Signup and view all the answers

What does the audience consumption of digital media account for?

Over 60% of total media time Signup and view all the answers

What phenomenon is described as 'cannibalization versus complementary' in the context of media consumption?

The effect of internet usage on other media time Signup and view all the answers

What percentage of total entertainment and media industry revenues does the entertainment industry comprise?

80% Signup and view all the answers

Which segment of the media industry has the highest revenue contribution?

Movies Signup and view all the answers

Which online content delivery revenue model is not mentioned as a strategy?

Pay-per-view Signup and view all the answers

What aspect does not contribute to media convergence?

Geographical convergence Signup and view all the answers

How does free content impact users' behavior towards paid content?

It drives users to seek paid content. Signup and view all the answers

Which of these industries is not mentioned as having little crossover between key players?

Television Signup and view all the answers

Which factor is identified as a driver of growth in the podcasting sector?

Content quality enhancement Signup and view all the answers

What is a characteristic of the video game industry as it relates to overall entertainment revenue?

It is increasingly rising in importance. Signup and view all the answers

What has happened to e-book sales in recent years?

They have flattened Signup and view all the answers

Which business model involves retailers paying a wholesale price and setting their own retail prices?

Wholesale model Signup and view all the answers

Which of the following is a significant impact of the internet on the entertainment industry?

Growth in broadband access and streaming options Signup and view all the answers

What has been the trend among small independent bookstores in relation to major bookstore chains?

They have been thriving Signup and view all the answers

What are some of the major players in the online entertainment industry?

Television, music, and gaming companies Signup and view all the answers

How has binge-watching affected traditional television viewing?

It has shifted preferences away from linear TV Signup and view all the answers

What challenge does the rise of closed streaming platforms pose?

Reduced need for Digital Rights Management Signup and view all the answers

Which of the following is true about the large-scale integrated technology media companies?

They include companies like Amazon, Google, and Netflix Signup and view all the answers

What is a major challenge faced by the home entertainment industry?

Pressure to change release windows Signup and view all the answers

What percentage of digital revenues in the music industry was accounted for by digital sales in 2021?

87% Signup and view all the answers

Which of the following best describes podcasts?

Digital audio presentations available for download Signup and view all the answers

Which type of digital gamer is considered the fastest growing market?

Mobile gamers Signup and view all the answers

What are the two primary types of digital music services?

Streaming services and digital downloads Signup and view all the answers

How long did it take for the music industry revenues to surpass the previous high set in 1999?

20 years Signup and view all the answers

Which type of content is NOT considered user-generated?

Professional documentaries Signup and view all the answers

Which of the following is NOT a revenue model for creators?

Commission from third-party sales Signup and view all the answers

What factor has significantly impacted the traditional music industry?

The transition to digital formats Signup and view all the answers

What is a characteristic of e-sports?

Online competitive gaming events Signup and view all the answers

What is one of the key platforms known for user-generated content?

YouTube Signup and view all the answers

Which of these factors drives demand for health-oriented products among Gen Z consumers?

Emphasis on health and sustainability Signup and view all the answers

What is a common feature that appeals to Gen Z customers when using e-commerce technologies?

AI-driven personalization Signup and view all the answers

Which aspect of fashion is important to Gen Z consumers?

Sustainability and individuality Signup and view all the answers

What type of financial solutions is important for young consumers?

User-friendly digital banking solutions Signup and view all the answers

Which of the following statements about creator funds is TRUE?

Less than 5% of creators earn significant amounts. Signup and view all the answers

What is one key aspect Gen Z looks for in product development?

Health benefits and sustainability Signup and view all the answers

Which type of products is in high demand among Gen Z?

Tech-enhanced products Signup and view all the answers

What is crucial for businesses to provide a seamless shopping experience for Gen Z?

Integration of online and offline channels Signup and view all the answers

How can businesses enhance customer trust and engagement?

Encouraging reviews and feedback on digital platforms Signup and view all the answers

What role do social media interactions play in engaging Gen Z customers?

They amplify positive experiences and build brand loyalty. Signup and view all the answers

Which innovative approach can businesses take to attract Gen Z?

Incorporating eco-friendly materials Signup and view all the answers

What is a component of the omnichannel presence that businesses should focus on?

Seamless integration of various shopping channels Signup and view all the answers

Why is transparency in sourcing practices becoming important for businesses?

It appeals to Gen Z's demand for sustainability. Signup and view all the answers

Study Notes

E-commerce 2023-2024: Business, Technology, Society

E-commerce is a significant field encompassing business, technology, and societal trends.
Online media consumption, revenue models, and convergence are key topics.
Major trends in online content include streaming wars, shifting models toward advertising, mobile acceleration of digital content, and significant tech player involvement in content.
The online publishing industry faces factors like the growth of web and mobile devices, alternative digital news sources, and evolving business models.
The online entertainment industry, including TV and movies, music, and games, has seen transformation, with increased streaming and downloading.
User-generated content has varied revenue models, including advertising and subscription-based services.

Learning Objectives

Understanding major trends in online content consumption, revenue models, and media convergence are crucial learning objectives.
Online publishing, entertainment, and user-generated content factors are key topics requiring understanding.
Knowing how creators monetize user-generated content is important.

Trends in Online Content

Streaming wars are slowing growth and shifting to advertising-supported models.
Mobile technology accelerates digital content trends.
Tech companies play a larger role in content production.
Book publishing is stable, with slowing ebook growth.
Podcasting is becoming a popular form of content consumption.
Digital media usage surpasses TV viewing.

Content Audience

Average adults spend over 4800 hours annually on media.
Digital media accounts for over 60% of total media time.
Desktop and mobile use averages around 8–9 hours daily.
Cannibalization vs. complementary media consumption is relevant.
Overall media consumption remains high across various formats, with a notable shift to online platforms.

Insight on Society: Gen Z

Discussion topics include Gen Z's defining socioeconomic and behavioral patterns, contradictions with stereotypes, and self-identification as a member of Gen Z.
Gen Z has unique behavioral and consumption patterns which are influenced by digital technology.
Video is among Gen Z's top influencers for brand and product selection.
Malaysian Gen Z exhibits unique cultural influences.

Online Publishing Industry

Online publishing comprises three segments: online newspapers, e-books, and online magazines.
Online newspapers face significant challenges, including the decline in revenue, challenges in digital revenue models, and the rise of digital-only competitors in online content.

Online Entertainment Industry

Major players in online entertainment include TV, movies, music, and games.
Internet innovations have transformed this industry, including mobile access, social networking, and growth in downloading/streaming services.

Audio Entertainment: Music and Podcasts

The music industry has transitioned to digital with online streaming services as major revenue generators.
Podcasts are a significant emerging audio content format.

Games

Online gaming has notable growth as a segment of online entertainment.
Different types of gaming, such as casual, social, and massively multiplayer online (MMO), and console gaming are present.

Creators and User-Generated Content

User-generated content includes many forms, including video, digital audio, print and others.
Various revenue models exist in the creator economy, especially streaming platforms.

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Description

Explore the evolving landscape of e-commerce in 2023-2024, focusing on the intersection of business, technology, and societal impacts. This quiz covers trends in online media consumption, revenue models, and the rise of user-generated content, highlighting key changes in the publishing and entertainment industries.