RE: Response to Janellyn Kleiner

["Margaret Landesman" <margaret.landesman@utah.edu>]

Joe,

Re. textbooks: "Its future is behind it." Please explain.

It is my distinct impression that the big textbook publishers are 
dismayed about the very high percentage of dollars spent on their 
publications which goes into the now marvelously efficient 
peer-to-peer and other online used markets.  But I hadn't noticed 
any willingness to concede the field.  Not the electronic one 
anyway.

Margaret Landesman
Utah

PS - NYT Monday July 3, p. C1 - "In Canada, the Torch is Passed 
on a Quiet but Profitable Legacy" - interesting story

-----Original Message-----
[mailto:owner-liblicense-l@lists.yale.edu] On Behalf Of Joseph J.
Esposito
Sent: Tuesday, July 11, 2006 7:05 PM
To: liblicense-l@lists.yale.edu
Subject: Response to Janellyn Kleiner

>I'd just like some answers that may blow holes in my current 
>opinion that scholarly publishing is the most profitable venture 
>going in the world of publishing.

JE:  Well, it all depends on what you mean by publishing. 
Scholarly monograph publishing mostly operates at a deficit. 
Many, probably, most research journals lose money.  College 
textbook publishing is still highly profitable, but its future is 
behind it.  School publishing is profitable for the big guys 
(only 4 left).  Trade publishing is unspeakable from a business 
point of view.  But you probably mean STM journals.  This is a 
highly profitable niche, but its success is relative to the 
otherwise truly dismal performance of other publishing segments. 
If you are looking for money, go into energy or real estate. Only 
a fool would invest in publishing nowadays.

Joe Esposito