The document discusses how the information industry faces significant challenges from new digital competitors providing free or low-cost information online. Specifically:
- New online information sources like newspapers, blogs, search engines and niche providers are drawing audiences away from traditional incumbents that charge fees.
- Future competitive advantage in the industry will go to firms that provide value-added services and expert insights rather than just access to information.
- Incumbents need to adapt by focusing on solutions, value-added services, driving a customer-centric culture, evolving business models, streamlined digital delivery, and leveraging their brands to position as experts in an overcrowded information marketplace.