Speakers: Steve Bosch & Heather Klusendorf
The Library Journal periodicals price survey was developed in partnership with EBSCO when the ALA pulled the old column to publish in American Libraries. There is a similar price survey being done by the AALL for law publications.
There is a difference between a price survey and a price index. A price survey is a broad look, and a price index attempts to control the categories/titles included.
[The next bit was all about the methodology behind making the LJ survey. Not why I am interested, so not really taking notes on it.]
Because of the challenge of getting pricing for ejournals, the survey is based mainly on print prices. That being said, the trends in pricing for print is similar to that of electronic.
Knowing the trends for pricing in your specific set of journals can help you predict what you need to budget for. While there are averages across the industry, they may not be accurate depending on the mix in your collection. [I am thinking that this means that the surveys and indexes are useful for broad picture looks at the industry, but maybe not for local budget planning?]
It is important to understand what goes into a pricing tool and how it resembles or departs from local conditions in order to pick the right one to use.
Budgets for libraries and higher education are not in “recovery.” While inflation calmed down last year, they are on the rise this year, with an estimate of 7-8%. The impact may be larger than at the peak of the serials pricing crisis in the 1990s. Libraries will have less buying power, and users will have less resources, and publishers will have fewer customers.
Why is the inflation rate for serials so much higher than the consumer price index inflation rate? There has been an expansion of higher education, which adds to the amount of stuff being published. The rates of return for publishers are pretty much normal for their industry. There isn’t any one reason why.