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Chapter 2 Resource Demo

Page history last edited by wikiuser0003 9 years, 11 months ago

Reappraising the Residual

 

Intro

When exchanging material goods, everyone has a different idea of value and worth. This chapter delves into the process of appraisal and how the value of materials is assessed through critiques, organization and displays; not just buying and selling. With the rise of digital networks, the process of appraisal has become a large part of everyday life. This chapter explains “residual” as a specific site of cultural transactions, exploring how and why negotiations of older material is significant within modern collector cultures through both market and social exchanges. Most importantly, we learn that values and conditions are assigned to goods and services in context of exchanges; nothing inherently possesses market or non-market characteristics. 

 

Systems of Appraisal

In the first section, the authors claim appraisal is the most rationalized process designed to determine an object’s absolute value. An appraisal is a negotiation between different systems of evaluation, determining not just the objects value, but how it can be determined. Within the system of appraisal, the appraiser is neutral and expert, and after the appraisal is complete, owners have to decide which set of values will guide their future treatment of the object. However, in the digital age we are experiencing a rise of networked exchanges and items are able to get assigned a price and new owner without a formal appraisal. Through these different systems, we learn that the terms of exchange are not grounded in the material value of the objects, but in their desirability to collector subcultures.

 

The Hybrid Audiences of YouTube

This section refers to the diversity of YouTube users and how this relates to what is valuable content on YouTube. Due to the fact that YouTube has such a variety of users, there are different videos that will become viral while other videos are targeting towards a niche audience. This is important when it comes to a sociocultural context because researchers are able to take what is trending and track shifts in interest. 

 

Residual Culture

In this section, it talks about how we can grow as a society if we take the old things and make new things based off of them.  This way we can see what worked and didn't work and in the end, make a better product.  

 

From Residual to the Retro

This section discusses the shift in organization processes between media collectors in the past and todays present media collectors face due to the sudden rise of digital media. Instead of showcasing or archiving their collections privately, collectors nowadays are uploading their rare forms of media to public sites like YouTube to share content and gain greater visibility among vast audiences from different generations.

 

Residual Economics

"Residual" is a term that is often used to describe the value of content that has fallen out of mainstream media and become less popular. However, that content still has economic value so it can still be used and remade to turn a profit. For example, the popular cartoon character Scooby-Doo has been popular for decades, and to this day it is still a profitable brand. This can be seen as "residual economics" because it is something that still has value even after its prime popularity has passed.

 

WWE Classics on Demand

This section refers to the phenomenon that was WWE wrestling fans and WWE. For decades, WWE fans had been taping weekly wrestling matches and other footage of wrestlers and sharing them amongst each other to not only study their characters performance but other aspects as well. When WWE began realizing what their fan base was doing, they created WWE Classics on demand to meet the needs of their fan base which happened to be interest in WWE archival material.

 

Conclusion

This chapter focuses mainly on taking the old and making better products from that model.  While some people argue that holding onto an old product only moves us sideways as opposed to forward, others argue that we can only grow off of the things we have already witnessed fail or succeed.  As the internet as well as its user base grows we will witness change and growth rapidly.  This chapter helps the reader to understand growth and development based on old and new products.

 

 

5 Important Quotes

 

1.“Material is shared by virtue of its adaptability to different conditions and its ability to be adjusted to fulfill a wide range of needs and motivations” (86). 

 

2.“…YouTube supports many types of users, ranging from casual participants to independent producers, cultural institutions, political parties, professional producers, and a myriad of categories in between. Indeed, the success of the site is due in part to a certain flexibility which makes in accessible and valuable to such a diverse user base.” (92)


3.“Rather the culture around retrogames involves the creative generation of new texts based on older aesthetics and on emulators that allow older games to be played on new platforms.” (99)

 

4.“The emergence of digital media seems to be shifting the nature of these curation processes allowing collectors of media artifacts to “have” and to “share” with fans of content from previous generations simultaneously." (100)

 

5."These multiple uses of 'residual' suggest that material's ongoing sentiment and symbolic interest may still generate profit long after their initial exchange and use value has vanished from memory." (104)

 

Conclusion

First off, value of material goods, including media, is different for everyone. We individually give meaning and value to content personally that may differ from others. Secondly, residual culture is extremely important when it comes to assigning worth and value to content. There are certain contents that will fade out after a short while but there are those that will persist through time and always hold sentimental value for a large audience allowing this market persistence. Lastly, it is extremely important for market researchers to attune to their audience in order to meet to their demands and work with them allowing them to both profit.

 

Online Example

http://www.ebay.com/

 

eBay is a perfect example of audiences assigning worth to retro material

 

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