Library Budget Constraints May Hinder STM Publishers
The global STM publishing market saw total sales fall to $20.3 billion in 2009 due to a broad impact on revenue streams from the worldwide recession.
Academic institutions faced budget pressure, which made subscription renewals difficult. Corporate customers and advertisers also cut back their spending in light of the recession.
“These market pressures are not expected to dissipate immediately,” says Dan Strempel, senior professional publishing analyst at Simba Information. “The question is how long will they last?
If library budget constraints and shrinking advertising expenditures produce a couple of soft years, the market leaders will be able to ride it out with cost containment; however, if the current situation lingers and libraries start cancelling big contracts, publishers will be under the gun to find alternative strategies.”
Publishers may look for ways to go around libraries to reach the scholarly marketplace.
Global STM Publishing 2009-2010, White paper, SIMBA Information, 10 Nov. 2010: