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Social Media Badge

Social media refers to the means of interactions among people in which they create, share, and exchange information and ideas in virtual communities and networks.[1] Andreas Kaplan and Michael Haenlein define social media as “a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content.[2]
Furthermore, social media depend on mobile and web-based technologies to create highly interactive platforms through which individuals and communities share, co-create , discuss, and modify user-generated content. It introduces substantial and pervasive changes to communication between organizations, communities and individuals.[3]
Social media differentiates from traditional/industrial media in many aspects such as quality,[4] reach, frequency, usability, immediacy and permanence.[5]
There are many effects that stem from internet usage. According to Nielsen, internet users continue to spend more time with social media sites than any other type of site. At the same time, the total time spent on social media in the U.S. across PC and mobile devices increased by 37 percent to 121 billion minutes in July 2012 compared to 88 billion minutes in July 2011.[6] For content contributors, the benefits of participating in social media have gone beyond simply social sharing to building reputation and bringing in career opportunities and monetary income, as discussed in Tang, Gu, and Whinston (2012).[7]Much of the criticism of social media are about its exclusiveness [citation needed] as most sites do not allow the transfer of information from one to another, disparity of information available, issues with trustworthiness and reliability of information presented, concentration, ownership of media content, and the meaning of interactions created by social media. However, it is also argued that social media has positive effects such as allowing the democratization of the internet[8] while also allowing individuals to advertise themselves and form friendships.[9]

Source: http://en.wikipedia.org/wiki/Social_media