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Tony McSeán, Director of Library Relations, Elsevier Jane Smith, British Medical Association Library UKSG, Serials Resource Management for the 21st Century:

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Presentation on theme: "Tony McSeán, Director of Library Relations, Elsevier Jane Smith, British Medical Association Library UKSG, Serials Resource Management for the 21st Century:"— Presentation transcript:

1 Tony McSeán, Director of Library Relations, Elsevier Jane Smith, British Medical Association Library UKSG, Serials Resource Management for the 21st Century: an introduction. 8 June, 2005 The management, economics and electronic hosting of scholarly journals THE BUSINESS OF JOURNAL PUBLISHING

2 Publishing and Publishers A. J. Ayer: "If I had been someone not very clever, I would have done an easier job like publishing. That's the easiest job I can think of.”

3 Publishing and Publishers A. J. Ayer: "If I had been someone not very clever, I would have done an easier job like publishing. That's the easiest job I can think of.” Cyril Connolly: “As repressed sadists are supposed to become policemen or butchers, so those with an irrational fear of life become publishers.”

4 Publishing and Publishers A. J. Ayer: "If I had been someone not very clever, I would have done an easier job like publishing. That's the easiest job I can think of.” Cyril Connolly: “As repressed sadists are supposed to become policemen or butchers, so those with an irrational fear of life become publishers.” Peter Lewis: “As a university library director my life was full of senior academics telling me how much better they could do my job if only they could be bothered to find the time.”

5 Henry Oldenburg First Journals: 1665

6 Journal Growth

7 Main Cause of Journal Growth

8 Starting New Journals  Proposals come from scholars Only 1 in 20 lead to a new title

9 Starting New Journals  Proposals come from scholars Only 1 in 20 lead to a new title  Key questions a publisher asks is there an identifiable critical mass of authors? is there an adequate journal already? are the authors concentrated in a new area or scattered among several old ones? who will be the readership? credibility of the proposer?

10 Publishing and Publishers A. J. Ayer: "If I had been someone not very clever, I would have done an easier job like publishing. That's the easiest job I can think of.” Cyril Connolly: “As repressed sadists are supposed to become policemen or butchers, so those with an irrational fear of life become publishers.” Peter Lewis: “As a university library director my life was full of senior academics telling me how much better they could do my job if only they could be bothered to find the time.”

11 Starting New Journals  Proposals come from scholars Only 1 in 20 lead to a new title  Key questions a publisher asks is there an identifiable critical mass of authors? is there an adequate journal already? are the authors concentrated in a new area or scattered among several old ones? who will be the readership? credibility of the proposer?

12 Reasons for Saying “No”  Too few papers will be submitted Area is not a real sociological grouping of researchers Area is too young or too diffuse Existing titles already satisfy authors’ needs

13 Reasons for Saying “No”  Too few papers will be submitted Area is not a real sociological grouping of researchers Area is too young or too diffuse Existing titles already satisfy authors’ needs  Readership is too interdisciplinary to influence institutional buying decisions

14 Reasons for Saying “No”  Too few papers will be submitted Area is not a real sociological grouping of researchers Area is too young or too diffuse Existing titles already satisfy authors’ needs  Readership is too interdisciplinary to influence institutional buying decisions  Growth of new area too slow to be viable

15 Reasons for Saying “No”  Too few papers will be submitted Area is not a real sociological grouping of researchers Area is too young or too diffuse Existing titles already satisfy authors’ needs  Readership is too interdisciplinary to influence institutional buying decisions  Growth of new area too slow to be viable  Financial benefits low compared to risks

16 Reasons for Saying “No”  Too few papers will be submitted Area is not a real sociological grouping of researchers Area is too young or too diffuse Existing titles already satisfy authors’ needs  Readership is too interdisciplinary to influence institutional buying decisions  Growth of new area too slow to be viable  Financial benefits low compared to risks  Surer developments already under way

17 New Journal Breakeven Time surplus loss 0 7 years time

18 Getting The New Journal Running  Editor & Editorial Office  Editorial Board  Launch  Verdict

19 Getting The New Journal Running  Editor & Editorial Office  Editorial Board  Launch  Verdict

20 Setting Up An Editorial Office  First, … find your Editor! Researcher working in the field Recognised authority with administrative flair

21 Setting Up An Editorial Office  First, … find your Editor! Researcher working in the field Recognised authority with administrative flair  Setting up an editorial office agree scope of journal and nature of support find location and negotiate lease supply equipment, material and staff help create referee database

22 Setting Up An Editorial Office  First, … find your Editor! Researcher working in the field Recognised authority with administrative flair  Setting up an editorial office agree scope of journal and nature of support find location and negotiate lease supply equipment, material and staff help create referee database  Support costs: typically 10-15% of income paid directly by the publisher

23 Getting The New Journal Running  Editor & Editorial Office  Editorial Board  Launch  Verdict

24 Establish The Editorial Board  With Editor(s), identify key members of research community served by the journal the academic “Great and the Good”

25 Establish The Editorial Board  With Editor(s), identify key members of research community served by the journal the academic “Great and the Good”  Persuade them of the virtue of the title

26 Establish The Editorial Board  With Editor(s), identify key members of research community served by the journal the academic “Great and the Good”  Persuade them of the virtue of the title  Get them to submit some papers for the inaugural issue, or encourage other good authors to submit and/or review

27 Getting The New Journal Running  Editor & Editorial Office  Editorial Board  Launch  Verdict

28 Actions to Launch  Send out a call for papers

29 Actions to Launch  Send out a call for papers  Decide on cover design etc. with Editor(s)

30 Actions to Launch  Send out a call for papers  Decide on cover design etc. with Editor(s)  When enough papers received, assemble inaugural issue

31 Actions to Launch  Send out a call for papers  Decide on cover design etc. with Editor(s)  When enough papers received, assemble inaugural issue  Promote existence to libraries and potential readers direct mail campaigns free sample issues at conferences

32 Actions to Launch  Send out a call for papers  Decide on cover design etc. with Editor(s)  When enough papers received, assemble inaugural issue  Promote existence to libraries and potential readers direct mail campaigns free sample issues at conferences  Launch and monitor paper flow and subscriptions

33 Getting The New Journal Running  Editor & Editorial Office  Editorial Board  Launch  Verdict

34 New Journal Breakeven Time surplus loss 0 7 years time

35 Publishing Cycle Lite

36 Publishing Cycle Classic

37 What Does The Journal Editor Do?  Public face of the journal

38 What Does The Journal Editor Do?  Public face of the journal  Decides on what gets published type and standard of paper

39 What Does The Journal Editor Do?  Public face of the journal  Decides on what gets published type and standard of paper  Sets editorial policies with editorial board & publishers’ editor

40 What Does The Journal Editor Do?  Public face of the journal  Decides on what gets published type and standard of paper  Sets editorial policies with editorial board & publishers’ editor  Runs the peer review process supported by an editorial office funded by the publisher

41 Peer Review  A methodological check soundness of argument supporting data and cited references  Done by two anonymous academics (“the reviewers”)  Reviewers peer review without payment costs of administering the selection of reviewers, postage and document costs are borne by the journal  On average 30% more papers are reviewed than published

42 Publishing Cycle Classic

43 What Does The Publisher Do?  Editorial management monitor editorial office efficiency and efficacy time for reviews, responsiveness to authors

44 What Does The Publisher Do?  Editorial management monitor editorial office efficiency and efficacy time for reviews, responsiveness to authors monitor key success indicators copyflow, subscription levels, quality indicators, author satisfaction

45 What Does The Publisher Do?  Editorial management monitor editorial office efficiency and efficacy time for reviews, responsiveness to authors monitor key success indicators copyflow, subscription levels, quality indicators, author satisfaction monitor research trends include where relevant:special issues, invited papers, conference issues

46 What Does The Publisher Do?  Editorial management monitor editorial office efficiency and efficacy time for reviews, responsiveness to authors monitor key success indicators copyflow, subscription levels, quality indicators, author satisfaction monitor research trends include where relevant:special issues, invited papers, conference issues take action does journal need to expand? does editor need replacing?

47 What Does The Publisher Do?  Business management control costs and set financial goals review subscription development review production costs and set page budgets set guide price close a failing journal

48 Manufacturing The Journal  Production work flow management file conversion, typesetting and editing supplier management

49 Manufacturing The Journal  Production work flow management file conversion, typesetting and editing supplier management  Electronic hosting secure online host, 24/7/365 scalable access and entitlements disaster recovery assured perpetual archiving

50 Promotion, Distribution and Sales  Promotion and marketing Direct mail and web brochures and leaflets Exhibitions and advertising Information on products and prices in general

51 Publishing Cycle 2005 Pro

52 Promotion, Distribution and Sales  Sales Account managers seek prospects Licence deals agreed with individual libraries and consortia After sales service and customer support

53 Promotion, Distribution and Sales  Sales Account managers seek prospects Licence deals agreed with individual libraries and consortia After sales service and customer support  Distribution and fulfilment Access and entitlements Electronic and paper Invoicing and cash collection Monitoring of claims

54 Economics of Journal Publishing MagazinesHybrid Magazine/ Journals Research Journals Sold toIndividualsIndividuals and institutions Institutions Circulation100,000s10,000s100s-1,000s Advertising IncomeVery highHighNon existent PriceLow High Fixed costs Variable costs Low High Medium Low High Small

55 Economics of Journal Publishing  Each research area has its “institutional market” limited number of institutions that support it  Institutional sales rarely exceed the institutional market high prices put buyers off, but very low ones will not attract customers to buy more  More general subject = larger institutional market and hence the potential sales  High circulations mean lower price, lower circulations higher price  Specialized titles will always be more highly priced than general ones: the market is smaller

56 Web = Publishing for Free?  Web is a distribution medium  Production costs are made up of two components: cost to create the first copy (85-90%) cost to duplicate and distribute (10-15%)  Copying and distribution become virtually zero, but authentication, licensing and management become more complex

57 First Copy Costs  Estimated by Odlyzko and Tenopir & King at an average of $4000 per article Survey by John Cox Associates: $3500 OSI Guide to OA journals: $3750  Has several components peer review costs for ALL submissions technology and development brand identity management organization costs  Users want the functions: first copy cost have to come from somewhere

58 Alternative Business Models  Any alternative must raise $4000 per paper to be self-sustaining  Publication must fulfil all purposes, not just the library-oriented ones  Payment options 1. Authors pay (page charges) 2. Authors’ institutions pay 3. Authors’ granting bodies pay 4. Readers pay 5. Readers’ agents (library) pay 6. National authorities pay (eg, NESLI)  Tolls and tariffs 1. Advertising 2. Telecommunication access charges

59 Electronic Publishing  Requires reliability and customer service  ScienceDirect Over 1,800 journals (1,947 if archive of discontinued merged etc. titles included) 6 m full text article, 60 m abstracts 180 m full article downloads by users in 2003, rising from 86m in 2002 Estimated 5.5 m users at more than 4,000 institutions worldwide  Not something you do in your garage

60 Thank You

61 Magazines versus Journals Book reviews News, views, commentary Short papers Review papers Archival papers classifieds Editorial Letters advertising Journalistic/unrefereed Submitted/refereed ads Content types and business models

62 Magazines versus Journals Book reviews News, views, commentary classifieds Editorial Letters advertising Journalistic/unrefereed ads New Scientist, Scientific American Magazine model: personal sale to individuals, very high circulation, very high advertising revenue

63 Magazines versus Journals Book reviews News, views, commentary Short papers Review papers Archival papers classifieds Editorial Letters advertising Journalistic/unrefereedSubmitted/refereed ads Nature, Science, BMJ, Lancet etc. Hybrid magazine/research journal model: personal sales predominate, high circulation, high advertising income

64 Magazines versus Journals Short papers Review papers Archival papers Submitted/refereed Archival Research Journals Research journal model: institutional sales, low circulation, no advertising


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