The trends in on-line education show twice over the benefits of being first to market. Five years ago, the top ten providers of on-line education were all for-profit companies. Two years ago, the five fastest growing providers of on-line higher education were all not-for-profit universities, led by SNHU which has seen a remarkable 400% growth in enrollment. The most interesting statistic is that only 5% of all institutions provide nearly 50% of the distance education in our country. Success at places like SNHU and the concentration of providers shows that early movers among traditional institutions have benefited from the decision to offer on-line courses.