A very useful article published last month on US website LibraryJournal.Com detailing…..
how increasingly tough it is getting in the periodicals market generally…and that Open Access may be the only way to preserve the market
The article starts by saying ….
Reality Bites: Periodicals Price Survey 2009 In the face of the downturn, libraries and publishers brace for big cuts
4/15/2009
As waves of grim economic news wash over state and federal governments here and abroad, libraries of all types and sizes are bracing for budget cuts the likes of which have not been seen in three generations. Unlike most financial crises, this one is ubiquitous, with all but a handful of states in the red and getting redder. Globally, the meltdown is playing havoc with currencies, and the cost of journals priced in currencies other than the pound, the euro, or the U.S. dollar have skyrocketed. Severe losses in endowment revenue, which in the past insulated materials budgets to a degree, have left even larger and wealthier libraries facing cuts.
A number of librarians expect the budget cuts to be permanent; others say funds will rebound, but the recovery will take years. Even if the recession is less severe than feared, experts say not to expect relief before 2012. In journals parlance, that’s three renewal cycles from now—more than enough to stress publishers without deep reserves. For an industry that is already in the throes of reinventing itself, this recession will hit hard.
Despite stronger than expected 2009 renewals, the outlook for FY10 is so bleak that libraries and consortia have already begun invoking financial hardship clauses and asking to renegotiate licenses for bundled content midterm. In an unprecedented move, the International Coalition of Library Consortia (ICOLC) issued a statement to publishers in January warning that double-digit budget cuts over the next few years are expected and calling for creative strategies from publishers who want to keep their business. The Association of Research Libraries (ARL) followed with its own statement in February, underscoring the need for publishers to take this crisis seriously.
Go direct to full article here http://www.libraryjournal.com/article/CA6651248.html?q=periodicals+price
In terms of price rises. The numbers for law are as follows (remember this listing details price rises in the states where historically we’ve found that library organisations have managed to curb some of the publishers worst excesses) We’d guess that % rises are a little bit higher in markets such as Australia, NZ and the UK.
Average Cost Per Title 2005 $223
Average Cost Per Title 2006 $246
% of Change 10
Average Cost Per Title 2007 $273
% of Change 11
Average Cost Per Title 2008 $292
% of Change 7
Average Cost Per Title 2009 $322
% of Change 10
In 5-year period, journal prices have according to their figures risen an average of $99 (44%) per title
