IT IS an unlikely industry to have become the great success of the digital age when all the pundits were predicting its demise when the Internet era began. But helped by a bizarre business model, it has proved all the doomsayers wrong with astonishing revenues and profit margins that surpass even those of even giant corporations like Apple and Google. It gets its products for free, top notch products that have been assessed for quality by the leading experts in their respective fields, again for free or for a pittance, and then sold them at exorbitant rates to customers. In the process the original makers of the products are themselves barred from accessing their own work because they had been forced to sign away the intellectual property rights on it!
Most readers would be surprised to learn that we are talking of the scientific, technical and medical or STM publishing industry. The core of their business is scientific journals which are published weekly or monthly, journals that carry the latest research in a large number of disciplines. And if you think that such a limited business would yield little profit you are in for a further shock. It is an estimated US $30 billion industry whose market leaders enjoy astonishing profit margins of 35-40 per cent. Knowledge is in their thrall as the fruits of research are behind prohibitive paywalls. Not many can afford all the journals, not even a well-endowed Harvard University. Imagine then the plight of institutions and universities in developing countries. But neither institutions nor governments have been able to alter the system.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
A SPRIG TO CARE FOR
Punarnava, a perennial herb, is easy to grow and has huge health benefits
DIGGING A DISASTER
Soapstone mining near Dabti Vijaypur village has caused many residents to migrate.
REVIEW THE TREATMENT
Several faecal sludge treatment plants in Uttar Pradesh suffer from design flaws that make the treatment process both expensive and inefficient
MAKE STEEL SUSTAINABLE
As India works to double its GDP by 2030, its steel industry must balance growth with sustainability. By embracing policies like the Steel Scrap Recycling Policy 2019 and adopting green technologies, India is paving the way for a more sustainable future in steel production
Can ANRF pull off the impossible for India?
Anusandhan National Research Foundation is expected to reorient India's innovation goals but funding issues, old mindsets remain a drag
TROUBLED WOODS
Forests are a great bulwark against climate change. But this is fast changing. AKSHIT SANGOMLA travels through some of the pristine patches of the Western Ghats to explore how natural disturbances triggered by global warming now threaten the forest health
BLINDING GLOW
The science is clear: increased illumination has damaging consequences for the health of humans, animals and plants. It’s time governments introduced policies to protect the natural darkness and improved the quality of outdoor lighting.
GROUND REALITY
What happens when the soil loses the ability to grow healthy, high-yield crops on its own?
GM POLICY MUST BE FARMER CENTRIC
On July 23, the Supreme Court of India directed the Union government to develop a national policy on genetically modified (GM) crops for research, cultivation, trade and commerce through public consultation.
Vinchurni's Gandhi
A 96-year-old farmer transforms barren land into a thriving forest in drought-prone region of Satara