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From a media perspective—marketers like to align strategies and tactics along the lines of how things are done at scale. The popular framework goes something like: Paid (advertising), Earned (Word of Mouth), Owned (Corporate) and everything else falls in a somewhat more grey area and from my perspective this is where the action will be for 2013 and beyond. As outlined above, Altimeter calls this area of overlap "converged media" because it's a convergence of different media dynamics coming together. If you ask me—from a marketing perspective this is the future of what, to this point we've called "social".
You see an image in your Facebook news-feed shared by a friend. The image was generated by a brand. You saw it because your friend shared it. They shared it because they liked it. They liked it because the content resonated (and they saw it). They saw it because the brand paid Facebook to promote it.
Paid? Earned? Owned?
All of the above. A social platform merely powers the engine and the above could have all been done in a mobile context....
David Armano offers an interesting model of "converged media" which he says really is what we're doing today in social PR.