Top 40 radio has been the number one signifier of a hit single since the beginning of Billboard. Now Social Media, including streaming and discussion on vine, instagram, twitter, etc. is starting to be incorporated and people clearly use social media to listen and discover music more than they listen to Top 40 to discover music.
I see people on here who reject certain artists and songs, saying that they aren't, in ATRL terms, "Iconic" or "Smashing", because they aren't Top 40 (or even #1) singles, even if they are all over social media and blogs.
So my questions stands, which is more prevalent or important in signifying the impact of a single/album/artist, Top 40 radio or Social Media.