Media industry and forecast analysis firm Simba Information, US, has released a report titled 'Going Global STM Publishing 2009-2010'. After shrinking 1.6 percent in 2009, the market for scientific, technical and medical publishing is poised to regain modest growth in 2010. However, according to the Simba report, leading report publishers will require new strategies to maintain growth in what is expected to be a painfully slow recovery.
The global STM publishing market saw total sales fall to $20.3 billion in 2009 due to a broad impact on revenue streams from the worldwide recession. As detailed in the report, academic institutions faced budget pressure, which made subscription renewals difficult. Corporate customers and advertisers also cut back their spending in light of the recession. With the economy expected to slowly recover, the report projects sales in the combined STM markets to finish the year slightly ahead of 2009 results.
Publishers may look for ways to go around libraries to reach the scholarly marketplace. The report discusses methods such as marketing and selling journal content directly to faculty, students and researchers; de-emphasising book and journal publishing in favour of other opportunities; and transforming into an information service to be potentially effective means of reinventing themselves in the face of lingering budget cuts.
Global STM Publishing 2009-2010, provides an overview and financial outlook for the global STM publishing market based on specific research and analysis of the leading competitors, as well as market performance in five content delivery categories. This research was conducted in conjunction with a larger study of the overall market for professional publishing.
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