(Mis)understanding the digital media revolution

Describes recent confusion about the nature of the digital revolution and the impact of this on commercial and academic behaviour. Illustrates that the nature of the digital revolution in consumer use of information has shown phenomenal uptake in usage, if not revenues and that this has already begun to change the nature of consumer behaviour. Argues that the power of the Web to disintermediate and provide scale economies could well apply to STM publishing models and that consequential changes could be significant.