This special issue addresses the topic of Internet business models from the perspective of the traditional media sectors. The eleven special-theme articles tackle the issues of online content delivery business models, the relationship between online and off-line media products, the Internet's impact on a media value chain, online marketing of music products, Internet content strategies, and comparative studies of Web content and strategies in different countries. From theoretical discussions to empirical investigations, the authors examine fully the traditional medial incumbents' efforts to develop business strategies that leverage their online competencies and suggest the factors that might play a role in this process. This focused theme issue provides readers with a deeper understanding of how the Internet has changed the playing field for the media industries and gives a preliminary view of things to come.