been confused for over a decade until today. but as far as i can tell, "new media" means the equipment is available in metallic but not chrome. it's easy to be mislead when everybody says it like we all know, but probably nobody really does and they're just pretending. don't sweat it.
for instance, a toaster is available in metallic, but it is chrome, so it is clearly NOT "new media". digital cameras and hand-held camcorders usually come in brushed metal or titanium, so obviously, they do qualify. even cell phones that are equipped with cameras are generally silver, but never chrome. the term is misleading. you'd be right in thinking video and photos really ARE old technology, based on inventions that have been around for 100+ years . the "digital" stuff is actually far, far lower resolution and far, far higher priced than the analog predecessors. but this equipment was, for years, always heavy and painted black. not interesting. only recently did everything become exciting when it got a shiny new casing.
the real tricky part to making the extra conceptual leap that the phrase "new media" essentially indicates potential retail mark-up value. every era in art has its name. after impressionism, abstract impressionism, modernism, and post-modernism, we are now in silverism, which will be followed by shiny silverism. the term "new media" will be considered obsolete and un-hip, in favor of "new new media", meaning "shinier than ever".