Information Technology Reference
In-Depth Information
The publishing industry of the future
The publishing industry has developed its business models around
printed books and journals as the major vehicle for the distribution of
information. Timo Hannay of Nature Publishing has written: 'The web
is the most disruptive influence on publishing since the invention of
movable type . . . And now we have at our disposal the most powerful
information dissemination tool in publishing history' (Hannay, 2007).
Ian Russell in Chapter 3 also alludes to the disruptive influences on
publishing in periods of rapid change. The internet has indeed turned
publishing on its head, and publishers of all types are torn between the
desire to protect the established models and the desire to experiment
with the brave new world of the internet. The creative industries are
essential to the UK's future competitiveness and it is estimated that by
2020 they will generate over 11% of gross value added (GVA), which
is the difference between output and intermediate consumption for any
given sector, used in the estimation of gross domestic product (GDP),
and is a key indicator of the state of the whole economy. How is this
business to be stimulated and expanded in a world which expects
information to be delivered over the internet, and often for free?
Journal publishers were the first to make a transition to e-publishing,
and most academic journals are now published in electronic form.
Journal publishers were the first to migrate to the internet for two
reasons, the first being that their predominant business model is sales
to institutions and not to individuals. Institutional libraries pay for print
subscriptions and make those journals available to their patrons. Thus
the print model is easily transferred to the electronic world. The second
reason why the journal has migrated so quickly to the internet is that it
is simply a 'wrapper' for collections of self-contained articles. Online
access and technology are capable of providing fast searching and direct
access to the article.
There are three unique aspects to the journal publishing business.
First, the publisher does not pay the authors for their content.
Academic authors write for recognition, not money. Second, journal
publishing operates in a market which is not normal. Each journal is
unique and no one journal can substitute for another. Thus, journal
publishers may compete for authors and for market share, but they do
not experience the direct competition that generally happens in other
