Tuesday, January 10, 2012

The enormous profits of STM scholarly publishers


As reported in the Economist (2011): “ Elsevier, the biggest publisher of journals with almost 2,000 titles, cruised through the recession. Last year it made £724m ($1.1 billion) on revenues of £2 billion—an operating-profit margin of 36%”. Springer’s Science + Business Media (2010) reported a return on sales (operating profit) of 33.9% or € 294 million on revenue of € 866 million, an increase of 4% over the profit of the previous year [..]


Hot damn.. These guys are raking it in! And for what? They are simply capitalizing on a made-up inefficiency in the "market" that should not exist in the first place. One of the signs of the new age should be all such companies going bust.


Link Yeltsin was deeply unpopular at that time in Russia, polling no more than 8% and widely blamed for the rise of the gangster oligarch...