Banned from commenting at Nature AGAIN. | Sauropod Vertebra Picture of the Week #AcademicSpring
peter.suber's bookmarks 2013-04-03
"If industry average profit margins are 20-30%, we’ll use the middle of the range, 25%. That means that 1/4 of the annual $9.4 billion revenue is profit — 2.35 billion. By coincidence, this is almost exactly equal to the price of publishing the year’s 1.8 million articles as Gold OA at a PLOS ONE price-point of $1350, namely $2.43 billion. Remember, this is not saying that what we spend on subscriptions would fund 100% Gold OA. It’s saying that what we throw away as sheer profit for publishers would fund it.
If that doesn’t make anyone absolutely furious, then that person’s outrage-meter is badly in need of recalibration. We’re supposed to be doing science here, not enriching shareholders with public money."