With all the recent discussion around the US OSTP memo recommending free and immediate access to all federally funded research, we think it’s worthwhile to take a step back to assess the current state of subscription and Open Access business models and review how we got here, before considering how to best navigate this changing landscape. The following article details the history of business model innovation in scholarly journal publishing, from a Trends Talk by KGL Consulting.

For over a hundred years, the business of publishing academic journals has been sustained by the subscription model. It was always an impeccably simple premise: institutions paid, authors authored, publishers published, readers read, institutions renewed, and repeat. The 1970s marked something of a heyday for this model - an era that is often viewed by the industry as some kind of utopia—when the scholarly publishing ecosystem seemed to thrive, with an abundance of journals entering the market, bursting library shelves, institutional agreements aplenty and high renewal rates.