EBSCO Price Projections Update Laura A. Ralstin 20 Sep 1995 22:07 UTC
FOR IMMEDIATE RELEASE FROM: Laura Ralstin EBSCO Subscription Services Corporate Communications (205) 991-1492 1996 Global Serials Price Projections Update BIRMINGHAM, Ala., U.S.A. -- Subscription rates for 1996 have been received from most major publishers. As predicted earlier this year, base price increases for most journals fall within the average range of 10 to 11 percent. U.S. libraries that subscribe to European journals for which publishers set U.S. dollar prices face the steepest increases -- 21 to 23 percent. For libraries worldwide subscribing to journals priced in publishers' country-of-origin currencies, exchange rates in effect at the time publishers are paid for next year's subscriptions will determine ultimate prices. The recent increase in the value of the U.S. dollar (due in part to organized buying of dollars by the central banks of major countries worldwide) has caused us to revise our predictions slightly upward for U.S. journals bought by European libraries and to lower our predictions for European journals priced in country-of-origin currency and bought by U.S. libraries. Japanese subscribers will likely pay more than was predicted earlier for U.S. and European journals, partially due to cuts in the Japanese discount rate and the organized U.S. dollar buying mentioned above, which have resulted in a decreased value of the yen. *Projected increases by customer billing currency* Updated projections for libraries invoiced in selected currencies are provided in the box below. A base price increase of 10 to 11 percent for 1996 journal subscriptions is assumed in these projections. This range is based on historical data and on recent information received from publishers. For U.S. journals, projections are based on estimated subscription price increases and the current, relative value of the customer billing currency compared to the U.S. dollar. (Mid-Sept. currency exchange rates were used for these projections.) For European journals, projections are based on estimated subscription price increases and the current, relative value of the customer billing currency compared to that of a European currency composite. The European currency composite is the average value of the British pound, French franc, German mark, Dutch guilder and Swiss franc. Mid-Sept. currency exchange rates were used for these projections. Ranges shown are for European journals published outside the corresponding country for each billing currency (e.g., the projected increase for customers invoiced in British pounds does not apply to U.K. journals). PROJECTED PRICE INCREASES BY CUSTOMER BILLING CURRENCY Customer Projected Projected Billing Increase for Increase for Currency U.S. Journals European Journals ______________________________________________________________ Australian dollar 10.0 - 12.0% 13.0 - 15.0% British pound 10.0 - 12.0% 13.0 - 15.0% Canadian dollar 9.0 - 11.0% 15.0 - 17.0% Dutch guilder 5.0 - 7.0% 8.0 - 10.0% French franc 5.0 - 7.0% 8.0 - 10.0% German mark 5.0 - 7.0% 8.0 - 10.0% Italian lira 9.0 - 11.0% 13.0 - 15.0% Japanese yen 9.0 - 11.0% 12.0 - 14.0% New Zealand dollar 5.0 - 7.0% 9.0 - 11.0% South African rand 13.0 - 15.0% 14.0 - 16.0% Spanish peseta 4.0 - 6.0% 9.0 - 11.0% Turkish lira 28.0 - 30.0% 29.0 - 31.0% U.S. dollar 10.0 - 11.0% 11.0-13.0%* 21.0 - 23.0%** *For European journals priced in country-of-origin currency -- journals priced in this manner will be affected by the strength of the U.S. dollar in early fall when publishers are paid for these journals. This range will be lower for journals published in the United Kingdom, as the dollar has not lost as much strength against the British pound as it has against other European currencies. **For European journals priced in U.S. dollars or with fixed conversion rates -- this rate is most applicable to U.S. libraries, as most major European publishers now set prices in U.S. dollars for U.S. customers instead of pricing in native currencies. These rates are generally set in mid to late summer. One component of U.S. dollar rates is the strength of the U.S. dollar as compared to publishers' native currencies at the time these rates are set. Released: Sept. 18, 1995 ["Laura A. Ralstin" <LRalstin%CORPCOMM.EBSCO@ISS.EBSCO.COM>]