| Abstract: | This article provides a quantitative assessment of the extent to which UK learned societies rely on publishing revenues. Drawing on work completed as part of a Universities UK project to monitor the transition to open access in the United Kingdom, it considers the risks that increased market consolidation and a shift to open access publishing present for societies' financial sustainability in the coming years. The project identified 279 UK societies that publish peer‐reviewed publications. It is estimated that publishing accounts for just over £300 million, or 26%, of these societies' overall revenues of £1.2 billion, but an in‐depth analysis of 30 societies found that the proportion is as high as 80% in some cases. Publishing is typically a profitable activity for societies, and thereby supports their charitable activities and makes an important contribution to their overall financial sustainability. Although most societies are presently in good financial health, the combined pressures of market consolidation and open access, coupled with early indications of an increase in the costs of publishing, suggests that their reliance on publishing could prove an uncertain foundation in the years to come. |
