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The Role of Internet in Different Industries
The Role of Internet in Different Industries
PART 1: Internet Industry Information
1. As of January 2014, 87% of adults use the internet in the United States.
2. 76% of adults using the internet have a high school diploma or less.
3. In America, 42% of adults own tablet computers.
4. As of January 2014, 74% of adults used social networking sites.
5. ACT01 and ACT11.
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6. As of September 2013, 70% of the adults with high internet connection have broadband access. Ten years ago dialed-up connection was more popular than broadband internet access with 37% and 15% respectively as of March 2003.
7. The accessibility of the internet limits people from using the internet. Therefore, those without internet access cannot use it.
8. The topic on teens is quite interesting given the statistics on every category. The statistic of at least 95% percent teens online should be a worriing trend for parents. At that percentage, the internet can impart undesired traits to the teens.
9. The statistics on the dial-up internet connectivity surprised me the most because it has declined drastically in the last 13 years at the expense of broadband. I expected the decline to be gradual as people embrace the broadband, because change normally takes time as new ideas or services become part of peoples lives.
10. $36.6 billion of revenue was collected from internet advertisement in 2012.
11. Mobile had the fastest growth in internet advertising raking in $3.4 billion (9% of the total revenue collected in 2012).
12. Search had 46% of the total revenue collected from internet advertisement.
13. Display advertisement accounted for 21% of the total revenue in 2012.
14. 5% of revenue was from digital video commercials.
15. The contribution of email surprised me because it contributed just a mere 0.4%, which is almost zero effect. I think, it should have been a little bit higher, at around 5 to 10% of the revenue, owing to many people with email addresses.
PART 2: Article Summary
In his article Supporting the internet for international trade, Miltzer (2014) outlines the potentials of using the internet to conduct international trade. He asserts that the internet has given the SMEs and developing countries opportunities to participate in the international trade. The author further reiterates that internet opportunities enable competition at a global scale by providing cheaper telecommunication and information. At the same time, the author acknowledges the challenges hindering the exploitation of internet potentials. He also mentions deterrents such as limited internet access, restrictions of a cross-border data transmission, restricted access to some markets, lack of an efficient and cheap transportation, and risks posed to consumers purchasing online. Furthermore, he proposes remedies for the challenges, which include using World Trade Organization (WTO) to enlighten member countries on the importance of the internet platform for trade. He also argues that it is time to amend rules to capture the opportunities provided by the internet, which, he believes, will eliminate most of the online trade barriers.
PART 3: Essay (The Music Industry)
How the Internet Has Changed the Music Industry
The invention of the internet is one of the major developments to have ever happened in the world. The internet has turned around the economic aspect of all industries, and the music industry as well. The music industry depends on revenues from sales of songs and music related events. The internet introduced new channels for the distribution of songs and collection of revenues. Songs are now easily available through online music stores such as iTune and music websites. In addition, the internet has enabled online bookings and ticketing for music concerts thus enhances the organization of music industrys activities, which in turn increases revenue. Moreover, the internet promotes musicians through a corporate branding, where music artist can reach his or her fans as a brand through social media sites such as Facebook, Twitter and YouTube.
Although the internet has propelled music industry to a new level, it has brought copyright issues that need solutions. The internet has provided an avenue for downloading songs illegally thus denying the music industry its revenue. The industry can also lose revenue through issuing of fake tickets for events within the industry by cyber criminals.
The change that I would propose is curtailing illegal access to songs by customers. The customers can be encouraged to buy from legitimates online stores only.
