Why are scholarly journal subscriptions so expensive?
Answer
Because the publishing of so many academic journals is consolidated under the control of so few publishers, there is a lack of competition and market forces at play. As a result, subscription costs rise faster than many consumers — in this case, scholars and academic institutions — can sustain. Meanwhile, these rapidly escalating subscription prices generate large profit margins for commercial publishers.
Annual price inflation has increased sharply post pandemic. Typically library resources have 3% increases, but this year have risen 5-9% for specific journal packages. Keeping in mind that a flat budget reduces buying power, more cancellations are planned for FY26.