I just read that Elsevier made £2.54 billion in revenue last year. I didn’t know academic publishing was such a lucrative business.

By comparison Penguin Random House makes €3.3 billion euros in revenue last yr and they sell a ton of books. Simon and Schuster makes $800m/yr.

I guess annuity’s from businesses and non profits using a legacy business model that predates technology beats selling books. No wonder they want to protect the business.