misc thoughts from week 1 readings

Overdue, but here are some thoughts.

Section 3.3.1 of the HMF reading discusses substitute goods. For example, it mentions different brands of televisions. While not the same product exactly, they perform essentially the same function, almost identically in fact. However, I was wondering in our current world of synchronicity if the ability to distinguish between substitute good was declining. Many cell phones today come with cameras, mp3 players, and advanced web browsing built in. So they are in some ways substitute products for digital cameras, portable mp3 players, and perhaps even computers or laptops on some level. However, cell phones might not take as high quality pictures, play music as well, or display web pages quite properly. So can they be considered substitutes after all? Do people buy cell phones for these features or are they just added bonuses on a product they'd already have bought? I'm not sure about the answers to these questions but I think they're probably worth considering.

Section 3.6.2 touches upon how "the internet is a new information technology that offers many opportunities to increase the supply of information based entertainment or cultural products." It mentions how Amazon has brought "consumers more books at lower prices" and how iTunes is having a similar effect on music distribution. Another site that could be listed in this section in an updated version of the book is Hulu.com. It was founded about a year and a half ago by NBC Universal and News Corp but claims to "operate independently." The site is effecting the distribution of TV shows and movies in a way similar to what Amazon did for books and iTunes did for music. With or without creating an account, users can watch pretty good quality streaming video for free with some commercial breaks, which are shorter and sometimes fewer than if you'd watched the show on TV. In this way, the site is on a different model than the pay-for-content sites previously mentioned. However, it is still a good example of existing media adapting new business models and the change in media supply as a result of technology.