Digital Technology & The Commerce of Information

Digital technology has transformed the way we consume and distribute information. Through the commerce of information, we have seen big changes over the past decade. This paper will examine the major trends in the commerce of information, focusing on the distribution and sale of books, movies, music, and software.

One of the most significant changes in the distribution of information has been the shift from physical to digital formats. Digital technology has made it easier and more convenient to access information, and this has had a profound impact on the publishing industry. The rise of e- books and digital publishing platforms like Amazon Kindle and Apple iBooks have become big competition for traditional publishing models, allowing authors sell directly to consumers. This allows for the authors to have much more autonomy over their work and how they choose to make money off it. This has led to boom in self-published books, which now account for a significant portion of the market. “As traditional mainstream publishers consolidated and were often loathe to take chances on unknown writers whose books might not turn immediate profits, some authors found that fewer and fewer publishing venues were open to them. As a result, new self-publishers—collectively called “author services” or print-on-demand (POD) publishers— appeared alongside subsidy (or vanity) publishers” (Dali, 2006). Digital Technology has also allowed for inclusivity for all people to be able to consume information. For example, we now can listen to books wherever we are with audiobooks. Digital technology has also made it easier for publishers to distribute books globally. This has expanded the reach of authors and making it possible for readers around the world to access books in their native language. This accessibility for authors and readers alike has created so much room for growth within the book industry.

Similar to the publishing industry, the film industry has undergone a digital revolution in recent years. The rise of video streaming services like Netflix, Amazon Prime, and Hulu has disrupted the traditional model of movie distribution. This has become a big change in the film industry and is challenging the dominance of movie theaters and DVD sales (Romano, 2002). The convenience and affordability of streaming services have made them increasingly popular among consumers, and many people now prefer to watch movies at home rather than in a theater. The experience of going to the movies can’t be replicated but the cost efficiency of having thousands of options for five to fourteen dollars a month is often the preferred method of consumption. This has also allowed for far more media to be created and distributed, giving actors and writers so many opportunities for work across many platforms. However, this has led to a decline in box office revenues and the closure of many movie theaters. Box office releases are rarer nowadays and are often only offered for a short amount of time before being released to a streaming platform. This has also created an oversaturation in the industry, streaming platforms are pumping out more and more content each year. “In the streaming wars, audiences have access to more movies than they could possibly consume, even in a once-in-a-century pandemic that has left many homebound. Yet ironically, in this rush to give consumers more “choice,” the streamers have systematically devalued creatives, leading to a glut of mediocre movies that fade from memory the second the credits roll” (Hunt, 2021).

The same changes have also been occurring in the television industry due to the digital world creating changes to the commerce of information. The collapse of network TV is coming quickly and will be a complete mystery to the new generations to come. Cable TV has become a nuisance to people now, we have been conditioned to want everything to be as instant as possible. Waiting for commercials and specific time slots for shows does not compete with the instantaneous benefits that come from streaming platforms. Another benefit we have seen from the innovation in the way we consume information in the digital age is the wireless capability. Unlike cable television we can watch anything on our streaming services anywhere with our cellular data and WIFI. Many streaming platforms also allow for downloads which give consumers the ability to access their content offline, this is very helpful when being somewhere without cellular data like on an airplane. We have started to see many variations of different shows across all the streaming platforms which has lead to oversaturation in these genres. For example, Love Island saw major success and many similar dating shows were produced in suit. We have seen it all now; Love is Blind, Too Hot to Handle, Sexy Beasts, the list goes on and on. I do believe there are some shows that are never going anywhere due to the comradery that comes with cable TV release days. The Bachelor is arguably the biggest dating show in the U.S. and is one of the last of its kind. Only releasing on Mondays, this makes the audiences excited with anticipation all week which leads to a massive number of views. One thing that the Bachelor does to keep audiences watching live is that they don’t release the episode on streaming platforms until the next day, leading to spoilers for those who didn’t watch live.

The music industry has also been disrupted by the rise of digital technology. Digital music sales now account for most music sales, with streaming services like Spotify and Apple Music dominating the market. This has led to a decline in physical music sales, including CDs and vinyl records (Sheresheva et al., 2021). The ease of streaming and the availability of music on demand has made it easier than ever for consumers to access and discover new music. However, the shift to digital has also created new challenges for artists and the industry, including issues around copyright, licensing, and fair compensation for artists. The music industry has also seen competition due to the rise of new media formats and information
distribution. Podcasts are one of the most popular ways that people consume information today. Podcast topics can range from news, pop culture, health and many more. “Although more than a third of music streaming users are listening to more audio overall because of podcasts, more than a quarter are listening to less music directly because of podcasts and a slightly higher share the same for radio (again, because of podcasts)” (Mulligan, 2021). While it is almost an impossibility for podcasts to take the place of music, there is definite overlap in competition because both require taking the most important resource from their audience, time. We have seen an increase in the amount of free-time people have due to the pandemic and work-from-home. This has led many audiences to multi-task in their everyday activities combining them with listening to music or a podcast. We have become accustomed to over saturation and therefore crave multi-tasking to stay focused, it seems counter-intuitive but can often be helpful.

The software industry has also undergone significant changes in recent years, driven by the rise of cloud computing and the increasing use of mobile devices. Software as a Service (SaaS) has become increasingly popular, allowing users to access software applications on a subscription basis rather than purchasing software outright. This has made it easier and more affordable for businesses and individuals to access the software they need and has also created new revenue streams for software companies (Soegiharto, 2022). The prolific use of mobile devices has also created new opportunities for software developers, as mobile apps have become increasingly important for both businesses and consumers. The phrase “there’s an app for that” is typically used as a joke to describe how all-encompassing the internet is. But it is true, there are 8.93 million apps on the Apple App Store according to BankMyCell. The creation and distribution of information that we have access to because of our mobile devices is unfathomable.

In conclusion, the commerce of information has undergone significant changes in recent years, driven by the rise of digital technology. The shift from physical to digital formats have disrupted traditional distribution models and created new opportunities and challenges for businesses and consumers alike. The rise of digital publishing, streaming services, and SaaS has made it easier and more convenient to access information. As technology continues to evolve, it is likely that we will continue to see significant changes in the commerce of information in the years to come.

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