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How to Secure The Best Publishing Contract - Renew Consulting for

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How To Secure The Best
Publishing Contract
Presented by
Simon Inger
• Q: How do I secure the best publishing
contract?
• A: Never renegotiate, always tender
What We’ll Cover
• Re-tendering
– Evaluation
• Understanding the Publisher and the Deal
– Financials
– Control
• Reporting and Auditing
• Negotiating
– Getting a Balanced Deal
– (Some) Pitfalls
• Checking Out
Re-tendering and setting
objectives
Re-Tendering
•
•
•
•
•
Set clear criteria right at the start
Take measures to ensure objectivity
Give yourself time
Have access to appropriate expertise
Don’t waver!
Evaluation and Goals
• What are my strategic objectives?
– Financial
– Reputation
– Dissemination
• Does that mean a particular business model?
– Risk management
– Publications development
Evaluation and Goals
• What else is important to me in a
publisher?
–
–
–
–
Sympathetic to society’s values
Understanding of the field
Good working relationship
Trust
Understanding the Deal
•
•
•
•
•
What publishers do
Types of contracts available
How publishers’ costs scale
How revenues are changing
Royalties negotiation
Funding Bodies
Societies
Researchers
Authors
Soc members
Submission
Distribution
Librarians
Sales
Marketing
Distribution
Society Pubs
Commercial
Publishers
UPs
Gateways
Sub Agent
Library Tech
Web site
FT Agg
NGO
Pub Services
Typical Deal
Royalty %
Guaranteed
Minimum
Minimum
Qualifier
Sign-on
Payment
Allowances
Editorial
Board
Expenses
Conferences
Member
Copies
Purchase
Percentage increase in publisher's costs
Publisher’s Costs
Print
Hosting
Sales & Marketing
Production
Manuscript System
Percentage increase in content - issues and articles
Journal Packages
ВЈ1000
ВЈ10,000
ВЈ1700
ВЈ17,000
Library Title Selection
Subject A
Subject B
Typical Price Variation
Price
Publisher’s
Own Sales
Sales
Agent
Subs.
Agent
Licensed
Reseller
Revenues
Print & Online
(declining)
Copyright Fees
(increasing)
Revenue
Big Deals
(increasing)
Aggregators
(increasing)
Royalties
Society Royalty
Publisher's Margin
Publisher's Costs
Small
Large
Degree of Control
•
•
•
•
•
•
Pricing?
Content growth?
Production quality?
Dissemination versus revenue mix?
Joint decision-making?
Platform?
Business Model Revenues
Subscription
Hybrid
Model
Subscription
Author Fees
Library Subscriptions
Individual Subscriptions
Aggregators
Document Purchase
Copyright Fees
Maybe
Yes
Yes
Yes
Yes
Yes
Some
Yes
Yes
Yes
Yes
Yes
Full Open
Access
Yes
Opportunity
No
Yes
Some
Yes
Measuring, Audit and Reporting
Audit
Revenue
Yes
Subscription
Numbers
No
Aggregator
Fees
Copyright
Fees
Package
Fees
Audit
Dissemination
Yes
Subscription
Numbers
Usage
Statistics
including
Aggregators
No
Copying
Audit
Costs
Yes
Marketing
Effort
No
Systems
Production
Staff
Effort
Reporting
• Proper profit and loss versus
forecast
– Detail of income calculations
from packages and
aggregators
• Impact Factor trends versus
competitors
• Actual paid subscription
numbers, cancellation
reasons and actions
• Usage versus like content
The Negotiation
Other services
• Membership services
• Society web site management and
development
– Integration with authentication (SSO)
Trade Off
Revenue
Control
Beware!
•
•
•
•
•
•
•
Right to match
Mandated article numbers/page counts
Best efforts?
Jurisdiction
Archive rights
Break clause
“By Mutual Agreement”
Timetabling
• Give yourself time!
• Get the detail right – it’s what’s not in the
contract that you need to be considering
– Service level agreement?
– Reporting?
– Marketing?
Checking-Out
• Very hard to go
back to selfpublishing
– Data
– Expertise
– Continuity
• Realistically can
only select a new
partner, or refresh
the terms with
existing one
• The only way to find out if
the grass can be greener is
to go out to tender.
• Societies have never had
more bargaining power than
they do now.
Thank you!
Any questions?
simon@renewsociety.com
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