Author: David Thew
TFPL
Intelligent Resources, Director
The annual conference of the UK Serials Group brings together scholarly publishers of journals and, increasingly, e-book and other digital content providers and their customer base in corporate, public and university libraries and buying consortia, and is seen by many publishers as an essential event. Combining a conference and an exhibition, it provides a valuable forum for discussing a wide range of issues affecting scholarly journal publishing, from impact factors to pricing and the impact of social media.
As a provider of recruitment services to the publishing market, my main focus is the exhibition, a ‘captive audience’ of publishers and information providers which includes many of the top providers of information services to the academic, library and government markets and which is therefore a useful barometer of market sentiment. This year the mood was mixed; some publishers had enjoyed a fairly healthy 2009 and were predicting a similar outlook for 2010, whereas others had been harder hit by downturn in specific geographical markets (e.g. Eastern Europe) and fluctuations in exchange rates which had significantly raised subscription costs for many of their clients (one major publisher who prices in Euros mentioned a client whose annual subscription cost had risen by the equivalent of some £200k purely as a result of currency fluctuation).
One of the main topics of discussion was the future of the ‘Big Deal’, typically a multi-year deal to license a publisher’s entire journal output or a significant part of it. Here the uncertainty was about academic budgets post-Election; with public sector spending facing drastic reductions whatever the flavour of the next UK government, the scholarly market will have to make cuts somewhere and two likely areas are staffing and collections, the latter with obvious implications for subscription revenues even where institutions are technically tied into multi-year deals. Clearly this could be a serious issue for small and large publishers alike and publishers may need to be creative even with deals which are technically already in place.
From a recruitment perspective, the conference suggested clear signs of green shoots, albeit with a lot of caution and some organisations not predicting any new hiring before the second half of the year at the earliest. There is also (again, cautious) growing interest from candidates; there is a still a lot of risk aversion, but also signs of people beginning to consider their next career move, an indication of growing confidence in the market.
David Thew is Director, Publisher and Content Provider Recruitment at TFPL Intelligent Resources (david.thew@tfpl.com; tel: +44 (0) 207 332 6076)
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