KEY TERMS

User generated content (UGC) - Content made by non-professionals E.G. Social media sites, Wikipedia, Youtube, Blogs, Pinterest etc
UGC is 35% more memorable than other media & is 50% more trusted than other media.
How can it be used as marketing? It's cost effective, provides exposure, more accessible 

Shareable content

Pro-sumer - Consumers of the media aren't so contrasted with the Producers of the media. The word Prosumers was used from 1980 to describe the blurring of the lines between the Producers and Consumers
The dawn of Web 2.0, in the early 2000, made this more of a reality for everyone

Participatory culture - Taking part in the media rather than just passively consuming it.

Collective intelligence - This is a concept that proposes, "Nobody knows everything. We all know something. Therefore together we can know everything (or nearly everything)