It’s not all doom and gloom in academia: at least Elsevier are increasing their profits!
March 12, 2012
I was searching for some information — what proportion of Elsevier’s revenue is from journal subscriptions. So far, I’ve been unsuccessful with that (can anyone help?), but along the way I stumbled across Elsevier’s Annual Reports and Financial Statements for 2011.
And it makes happy reading. In these times when people are constantly moaning and whining and complaining about shrinking library budgets, it’s good to see that if you just pull your socks up and work hard, you can still do well for yourself! Check it out:
As you can see, whereas in 2010 Elsevier were only able to generate an operating profit of £724M/£2026M = 35.7%, by sheer hard work and gumption they were able in 2011 to bring this up to £768M/£2058M = 37.3%. This continues a fine trend of five successive years of increasing profits — not just increasing in absolute amount (although that’s true, too), but increasing as a proportion of all revenue.
So hats off to Elsevier, and to the valiant shareholders whose self-sacrifice allows us all to obtain more than adequate typesetting for our papers! Pay no attention to the moaning Minnies — this is an all-American success story!