What is new media?

For me, the cited Press release below is what "new media" is. In terms of advertising, the digital universe, with a life span of more/less 10 years is the "new" way to conduct business. Advances in the Internet and networking sites that have million+ users are the target for our success. Connecting consumers to our brands via ad space on websites as well as full web pages themselves are the "new" media approach, as opposed to television and radio. Not only are we pursuing "new media" to function, business are using new media tools to execute business as well. This allows us (business people) to engineer our workload faster and more efficiently. It's the growing trend of processing daily activities through new ways via the digital world.