PCG unveils research into the evolution of renewals trends over the last four years
PCG (Publishers Communication Group), Ingenta’s sibling company under the Publishing Technology umbrella, recently performed a survey of libraries in north and south America, Europe, Africa and Australia analysing journal renewal trends in the scholarly information sector over the last four years.
The report, published last month, complements and extends PCG's previous work in this area, undertaken over several years, by investigating the evolution in trends in journal renewals since 2003. It is the latest in several studies that PCG has carried out to recognise the importance of understanding and anticipating new market trends within the library industry and also provides support to publishers seeking to build their strategies on an in-depth understanding of the library market.
Findings, based on over 32,000 journal subscriptions , concluded that the shift to e-only subscriptions continues to be a dominant trend for libraries around the world. This year, one in four print subscriptions was cancelled in favour of online access – a trend that demonstrates the need for efficient, timely and cost-effective access to publications online. The increasing importance of both shrinking budgets and faculty recommendations in librarians’ decisions to retain or cancel subscriptions was also highlighted.
The research concluded that the rate of subscriptions cancelled following faculty input has grown from 5% four years ago to 10% this year. During the 2006-2007 cycle, it was the third most important factor provided to explain a cancellation. Better usage statistics are also contributing to more informed collection management, with a steady 20% of librarians noting that most cancellations are based on usage data.
About PCG
Publishers Communication Group was founded in 1989, initially to help European publishers gain exposure in the North American marketplace. Its services quickly expanded to include the needs of North American publishers and its focus shifted to the global library community. PCG’s work has since extended to providing comprehensive marketing services, including market research, that aim to expand and maintain the presence of PCG's publisher clients in the world’s libraries.
The findings of this latest report were enthusiastically received by publishers and reaffirm PCG's placing as the recognised leaders in market research for the scholarly publishing community. The report is available on request from PCG's head of research Emilie Delquie .