International Association of Scientific and Technological University Libraries

IATUL News Alerts

Reality Bites: Periodicals Price Survey 2009

Tuesday, 28 April 2009 5:30:23 p.m.

In the face of the downturn, libraries and publishers brace for big cuts 

As waves of grim economic news wash over state and federal governments here and abroad, libraries of all types and sizes are bracing for budget cuts the likes of which have not been seen in three generations. Unlike most financial crises, this one is ubiquitous, with all but a handful of states in the red and getting redder. Globally, the meltdown is playing havoc with currencies, and the cost of journals priced in currencies other than the pound, the euro, or the U.S. dollar have skyrocketed. Severe losses in endowment revenue, which in the past insulated materials budgets to a degree, have left even larger and wealthier libraries facing cuts.

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