information vs subject matter

information and subject matter both are nouns.

Word	Noun	Adjective	Verb	Adverb
information	Yes	No	No	No
subject matter	Yes	No	No	No

As nouns, subject matter is a hypernym of information; that is, subject matter is a word with a broader meaning than information:

Other hypernyms of information include content, message, substance.

information (noun)	subject matter (noun)
(communication theory) a numerical measure of the uncertainty of an outcome	content communicating a message; what something is about
knowledge acquired through study or experience or instruction
a message received and understood
formal accusation of a crime
a collection of facts from which conclusions may be drawn