Academic Publishing Can't Remain Such a Great Business
The largest academic publisher is Elsevier.
The next biggest academic publisher is Springer Nature, which is closely
held (by German publisher Holtzbrinck and U.K. private-equity firm BC
Partners) but reportedly has annual revenue of about $1.75 billion. Other biggies that are
part of publicly traded companies include Wiley-Blackwell, a division
of John Wiley & Sons; Wolters Kluwer Health, a division of Wolters
Kluwer; and Taylor & Francis, a division of Informa.
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The traditional journal business went through a consolidation wave. Bigger publishers bought smaller ones,
and used their increased bargaining power (composed largely of their
ability to demand that libraries subscribe to large bundles of different
journals) to extract more money from libraries.
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Meanwhile, open-access journals have become more common, too. There are now 10,697 peer-reviewed open-access journals -- accounting for more than a third of all peer-reviewed journals.
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