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Blackwell profits from journal expansion. Katherine Rushton and Bobby Pickering report on healthy 2004 results and further open access moves.(Blackwell Publishing)(Brief Article)
Blackwell Publishing grew sales by 10% to [pounds sterling]191m last year, helping to push profits up 27% to a record [pounds sterling]31.7m, despite the impact of the weak US dollar.
Chief executive Rene Olivieri attributed the growth to an increase in the number of journal titles, more carefully tailored content and "targeted electronic marketing".
A range of 66 new journals were added during 2004, bringing the total to 755. List growth was achieved "largely with academic organisations", as well as through the acquisitions of BMJ Books in April and US Food and Nutrition Press in October. Sales in the US market stormed ahead of Blackwell's global growth, up 25% to $172m ([pounds sterling]95m). Diminishing library budgets in the US and the UK were offset by Blackwell's all-title e-distribution scheme to library consortia. Its book publishing "was less strong" compared to journals growth in ...
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Source: HighBeam Research, Blackwell profits from journal expansion. Katherine Rushton and Bobby...