Every week, Jack Myers shares his unique perspective on the state of the media and advertising business in this free video. Jack's full report and economic forecasts are available to subscribers at www.jackmyers.com.

If you haven’t heard of social gifting yet, you soon will. It is the biggest thing in e-commerce since Groupon and Living Social. Social Gifting apps like Wrapp and Karma are becoming the next hot social media companies. While sites like Groupon offer discounts on behalf of retailers, social gifting is about enabling you to use Facebook and other social sites to share virtual gift cards. Social gifting sites and apps offer e-gift cards from major retailers, some free and some purchased. Consumers can actually purchase items they want with their e-gift cards, exchange them or donate them to charity. Karma was acquired by Facebook shortly after the social network became a publicly traded company in May. Other social gifting companies include Social Gift, Drop Gifts, Groupcard Apps, and CashStar, which has an association with over 200 retailers. Watch this week’s video to learn why social gifting may change marketing and media and read more at jackmyers.com about my ten most interesting digital advances.

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Subscribers can access the report at www.jackmyers.com. I share exclusive insights from the report in this week’s Video Media Business Report, available above and through Reuters Insider iPad app, which is available at no cost to all Media Business Report subscribers.

Video provided by Reuters Insider (http://insider.thomsonreuters.com)