Alright but look at how much they pay the authors. What other business pays ZERO dollars for their core product?
Comment on Publishing Revenue
shasta@lemm.ee 4 months ago
Why are we looking at revenue? We don’t know the operating costs. What are the profit margins?
bubbalu@hexbear.net 4 months ago
tetris11@lemmy.ml 4 months ago
None, but science isn’t a business. Treating it so creates perverse incentives where an articles is reviewed by merit of its financial gain and not its content. Some people already do this by prestige alone, but adding money to the mix won’t improve this imo
bubbalu@hexbear.net 4 months ago
So it’s acceptable for Elselvier et al to milk academics blind? At the minimum, authors should not be charged.
tetris11@lemmy.ml 4 months ago
No, but ideally all publishers should operate not-for-profit, and yep submission for open access should not cost ridiculous fees.
TheLowestStone@lemmy.world 4 months ago
According to Wikipedia, in 2022 Elsevier’s revenue was 2.909 billion pounds and their net income was 2.021 billion pounds.
Not going to bother looking up the rest.
DR_Hero@programming.dev 4 months ago
There’s a much more accurate stat… and it’s disgusting