From the Director (continued)

The cut in the Library's budget is not the only reason why journal subscriptions are being canceled. Changes in scholarly communication are also a significant factor. Scholarly communication can be defined as the formal and informal processes by which the scholarship of faculty and researchers is created, published, preserved and used. The processes of scholarly communication have been changing rapidly during the past 20 years or so, and these changes have had a profound impact on the Library's ability to provide access to information. Some of the changes are as follows:

• Publishers of scientific and medical journals have been raising subscription prices an average of 10-15% per year while maintaining a profit margin estimated to run as high as 40%.
• The number of journals published has grown tremendously.
• Mergers in the publishing industry have resulted in price increases as competition decreases.
• Many societies/associations now use commercial publishers to produce their journals and have come to depend on profits from their journals to help support their activities.

• As online journals have become available, many publishers have bundled their subscription prices, requiring libraries to pay for online and print subscriptions, instead of allowing them to choose one format at a lower cost.
• In response to rising prices, libraries have been canceling journal subscriptions, causing publishers to raise their prices even higher to protect their profit margins.

The bottom line is that, as publishing has become more commercialized, it has become increasingly difficult for people to get the information they need in a timely manner. In the next issue of the newsletter, I will outline a few initiatives that are attempting to improve this situation.

Mary L. Ryan