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Transforming Information Markets: Implications of the Digital Network Economy
ASIS&T 2008 Annual Meeting (AM08 2008)
Columbus, Ohio, October 24-29, 2008
The continuing development of digital technology and interconnected digital and global networking are radically transforming media and information markets, cost and value structures, and consumer attitudes and expectations. This is contributing to a shift from a perception of traditional media format of products as the focus of consumer interest to an interest in content, with the media form of interest only to the degree to which it adds value to media consumption. This suggests a need for media and libraries to shift from thinking of themselves as distributors of specific media (newspaper, radio, TV, books, etc.) to a more generalized provider of access to information. They, as well as emerging cross-media platforms (Internet TV, Mobile TV, Cell TV, etc.) and other information goods and services, need to focus on not merely on providing valued content, but on identifying and taking advantage of the appropriate content added-value that new products and services bring. This paper examines the theoretical foundation for value in information goods and services, and builds an argument for the various features of the digital network economy contributing to this shift in two ways: the rise of an increasingly active, value-oriented audience of information users; and the reduction of economic and technological barriers that increase competition, which then drives those in the information marketplace to focus on competing through creating added value.
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