$1,712,706,007.83

I promised that I would update this blog with a more accurate figure of Elsevier’s profit from scholarly communications.  It seems that NZD$1,712,706,007.83[1]  (1.7 Billion New Zealand dollars) is a better estimate.  That means that the inefficiency in the scholarly publishing system caused by one publisher is only 20 times the size of NZ’s entire research budget. 

I also think that 6%, the increase in profit for subscriptions and ‘OA’ APCs is interesting as well, as I’d suggest that increase came from Hybrid ‘OA’ payments, here subscriptions and APCs may double dip into University libraries’ scarce budgets. [2]

As the THE article referenced below says at the end though, shares in RELX, Elsevier’s parent company, are falling as the community bands together to get better deals.  Maybe the dividends are going to slow for shareholders from here on in, as publishers fight to maintain their place in an increasingly unsustainable business model.     

[1] https://www.timeshighereducation.com/news/elseviers-profits-swell-more-ps900-million 

[2] https://www.relx.com/~/media/Files/R/RELX-Group/documents/press-releases/2018/relx-group-results-2017-pressrelease.pdf

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