Wikipedia defines New Media as:
“… a broad term in media studies that emerged in the latter part of the 20th century. For example, new media holds out a possibility of on-demand access to content anytime, anywhere, on any digital device, as well as interactive user feedback, creative participation and community formation around the media content. Another important promise of new media is the "democratization" of the creation, publishing, distribution and consumption of media content. What distinguishes new media from traditional media is the digitizing of content into bits.
Wikipedia, an online encyclopaedia, is an example, combining Internet accessible digital text, images and video with web-links, creative participation of contributors, interactive feedback of users and formation of a participant community of editors and donors for the benefit of non-community readers. Facebook is an example of the social media model, in which most users are also participants. Most technologies described as "new media" are digital, often having characteristics of being manipulated, networkable, dense, compressible, and interactive. Some examples may be the Internet, websites, computer multimedia, computer games, CD-ROMS, and DVDs. New media does not include television programs, feature films, magazines, books, or paper-based publications – unless they contain technologies that enable digital interactivity."
A good question to ask instead of “what is new media?” is “what isn’t new media?” To be sure, there are some definite signposts to guide the twenty-first century user’s query.The term “new media” seems to escape its very definition. Loosely, new media is a way of organizing a cloud of technology, skills, and processes that change so quickly that it is impossible to fully define just what those tools and processes are. For example, the cell phone in the late 1980’s could be thought of as part of new media, while today the term might only apply selectively to a certain type of phone with a given system of applications, or even more commonly, the content of those apps. Part of the difficulty in defining New Media is that there is an elusive quality to the idea of “new.” The very prospect of being new denotes an event just beyond the horizon, something that has only just arrived and which we are just beginning to get our hands on. Perhaps in searching for a suitable characterization for this network of tools and ideas is the idea of limitless possibility. Limitless possibility for communication, for innovation, and education is certainly a fundamental element that shapes our conceptions of new media usage from now on.
New media has had a profound effect on three of the most essential categories of society in the twenty-first century: economics politics, and the exchange of ideas. Economically, new media is the globe’s commercial skeleton.Every time a customer goes online to shop for that rare book title, or that overstocked iPod, or even the digital camera from a large retail store available down the block, new media is on both sides of that transaction. New media is not only the product but helps to mould the process of electronic commerce.One thing is very clear: New Media is experiencing the growing pains of “the Wild West.” New Media itself is neutral new technology evolving all the time. It is up to the user as to whether it is good or bad.Perhaps the potential of new media is a function of its intermediate development and our social, political, and economic transition within and outside of it. Either way, it remains to be seen whether or not it really is up to us to define the digital frontier. Regardless, new media and new media communications is continually evolving and as a result, its definitions evolves as well.

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