Stm - Publishers
Páginas: 12 (2877 palabras)
Publicado: 3 de mayo de 2012
STM PUBLISHING INDUSTRY AND MARKET
Fast growing industry
The niche nature of the market and the rapid growth in the budgets of academic libraries have combined to make scientific publishing the fastest growing sub-sector of the media industry over the past 15 years. Moreover, the STM market is quite insensible to the ups and downs of the economy and therefore a stable and reliable fieldfor long-term investments.
A significant development in recent years has been the aggressive entry of the private equity houses into the professional publishing arena. But who would not be attracted by an industry with 20% margin and decent growth rates ? Candover and Cinven have been very active with the acquisition of Kluwer Academic Publishers (KAP) and, more recently, Springer.
This STM(scientific, technical, medical) publishing industry is very favorable for the publishers and was well characterized by Carol Kaesuk Yoon (1998): "Academia is a paradise for publishers. First the public pays for most scientific. Then universities pay the salaries of scientists who do virtually all the writing, reviewing and editing. Finally, authors typically sign over their copyright topublishers, who can sometimes bring in many millions of dollars a year in subscriptions for a single high-priced journal subscriptions paid by university libraries supported by tax dollars and tuition".
Industry size and shares
J P Morgan European Equity Research (Scientific and Medical Publishing, 2003; please see note below) estimates that the global market is worth $6 billion, of which $4billion is scientific and technical information, and $2 billion medical. A recent report done by Electronic Publishing Services (EPS Market Monitor, 2003) states similar figures.
Budgetary pressure in the public sector is driving down growth, from 5% to 3%, in the science market. J P Morgan project 4% market growth for the medical market, as it benefits from strong growth in the number ofhealthcare professionals.
[pic]
Source: http://www.oecd.org/dataoecd/58/32/32145392.pdf
Although STM publishing is dominated by a small number of large commercial publishers (Elsevier, Wolters Kluwer, Thomson, Springer), it is in essence a cottage industry comprising a large number of small publishers. Combined, the four leaders represent almost 50% of the market. The "new Springer" is thecompany formed after the merger between Springer and Kluwer Academic Publishers (KAP).
In terms of revenues, Elsevier leads the market with around 28% market share, whereas the new Springer has approximately 10% market share. The figures below illustrate market shares before the merger of Springer and KAP.
[pic]
Source:http://www.publications.parliament.uk/pa/cm200304/cmselect/cmsctech/399/399.pdf
In terms of the number of published articles, Elsevier's share is 25% and Springer's about 8%. Springer is the global number 2 in STM journal publishing, but number 1 in STM book publishing.
[pic]
Source: http://asia.elsevier.com/htmlmailings/Special-Issues/2005%20THMY/Malaysia%20Jul%202005%20-%20final.ppt
Most publishers are in one of three categories: commercial publishers,learned societies, or university presses.
The largest publishers of STM journals are commercial publishers. These are: Elsevier, Springer, Blackwell Publishing, Wiley, Taylor & Francis and Wolters Kluwer.
The second type are learned societies. A society is made up of members with a common interest in a particular subject area. The largest society, the Institute of Electrical and ElectronicsEngineers publishes close to 100 journals. More typically, a society will publish only one or two journals. It is common for a society to have its journals published by a commercial publisher.
The third type are university presses. These are publishers associated with a university. Worldwide, the largest university presses are Oxford University Press (OUP) and Cambridge University Press (CUP). Like...
Fast growing industry
The niche nature of the market and the rapid growth in the budgets of academic libraries have combined to make scientific publishing the fastest growing sub-sector of the media industry over the past 15 years. Moreover, the STM market is quite insensible to the ups and downs of the economy and therefore a stable and reliable fieldfor long-term investments.
A significant development in recent years has been the aggressive entry of the private equity houses into the professional publishing arena. But who would not be attracted by an industry with 20% margin and decent growth rates ? Candover and Cinven have been very active with the acquisition of Kluwer Academic Publishers (KAP) and, more recently, Springer.
This STM(scientific, technical, medical) publishing industry is very favorable for the publishers and was well characterized by Carol Kaesuk Yoon (1998): "Academia is a paradise for publishers. First the public pays for most scientific. Then universities pay the salaries of scientists who do virtually all the writing, reviewing and editing. Finally, authors typically sign over their copyright topublishers, who can sometimes bring in many millions of dollars a year in subscriptions for a single high-priced journal subscriptions paid by university libraries supported by tax dollars and tuition".
Industry size and shares
J P Morgan European Equity Research (Scientific and Medical Publishing, 2003; please see note below) estimates that the global market is worth $6 billion, of which $4billion is scientific and technical information, and $2 billion medical. A recent report done by Electronic Publishing Services (EPS Market Monitor, 2003) states similar figures.
Budgetary pressure in the public sector is driving down growth, from 5% to 3%, in the science market. J P Morgan project 4% market growth for the medical market, as it benefits from strong growth in the number ofhealthcare professionals.
[pic]
Source: http://www.oecd.org/dataoecd/58/32/32145392.pdf
Although STM publishing is dominated by a small number of large commercial publishers (Elsevier, Wolters Kluwer, Thomson, Springer), it is in essence a cottage industry comprising a large number of small publishers. Combined, the four leaders represent almost 50% of the market. The "new Springer" is thecompany formed after the merger between Springer and Kluwer Academic Publishers (KAP).
In terms of revenues, Elsevier leads the market with around 28% market share, whereas the new Springer has approximately 10% market share. The figures below illustrate market shares before the merger of Springer and KAP.
[pic]
Source:http://www.publications.parliament.uk/pa/cm200304/cmselect/cmsctech/399/399.pdf
In terms of the number of published articles, Elsevier's share is 25% and Springer's about 8%. Springer is the global number 2 in STM journal publishing, but number 1 in STM book publishing.
[pic]
Source: http://asia.elsevier.com/htmlmailings/Special-Issues/2005%20THMY/Malaysia%20Jul%202005%20-%20final.ppt
Most publishers are in one of three categories: commercial publishers,learned societies, or university presses.
The largest publishers of STM journals are commercial publishers. These are: Elsevier, Springer, Blackwell Publishing, Wiley, Taylor & Francis and Wolters Kluwer.
The second type are learned societies. A society is made up of members with a common interest in a particular subject area. The largest society, the Institute of Electrical and ElectronicsEngineers publishes close to 100 journals. More typically, a society will publish only one or two journals. It is common for a society to have its journals published by a commercial publisher.
The third type are university presses. These are publishers associated with a university. Worldwide, the largest university presses are Oxford University Press (OUP) and Cambridge University Press (CUP). Like...
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