Media richness theory, sometimes referred to as information richness theory, is a framework that can be used to describe a communications medium by describing its ability to reproduce the information sent over it. For example, a phone call will not be able to reproduce visual social cues such as gestures. This makes it inferior to video conferencing, which is able to communicate gestures, at least to some extent. More specifically, media richness theory states that the more ambiguous and uncertain a task is, the richer format of media is suitable to it. It is based on contingency theory and information processing theory. Essentially, it explains that richer, more personal means of communication are generally more effective at communication than leaner, less rich media.
Application
The most immediate and profound application of media richness theory is for senders in choosing a medium for communication. The theory implies that a sender can (and should) use the richest possible medium to communicate the desired message. In reality, senders are often forced to use less-rich methods of communication. Senders that use less-rich media of communication should understand the limitations of that medium in the dimensions of feedback, multiple cues, message tailoring, and emotions. Take for example the relative difficulty of determining wether a modern text message is serious or sarcastic in its tone.
Theory
Information richness is defined by Daft and Lengel as “the ability of information to change understanding within a time interval”. Communications that can overcome different frames of reference and clarify ambiguous issues to promote understanding in a timely manner are considered more rich. Communications that take a longer time to convey understanding are less rich.
According to Daft and Lengel’s theory, media richness is a function of (1) the medium’s capacity for immediate feedback, (2) the number of cues and channels available, (3) language variety; and (4) the degree to which intent is focused on the recipient. The greater social presence of a medium creates a greater immediacy and warmth of the communication, because of the greater number of channels.

