I think the term 'social media' has outlived its purpose. It's too vague to be used in discussion. 'Social' seems a bit redundant, as isn't most media inherently social?
It's quite a nice, flattering term for these companies. They get to advertise their platforms as being 'social' (bringing people closer together, having firneds), and 'media' (wow look at all these fun, cool pics and videos!), when in reality, it's kinda the opposite.
I think we need to start naming things based on who actually owns these companies, the essence of their operations, and where they generate the most of their revenues from. Ad Platforms? Surveillance Boards?