This essay stresses that for many years, academic libraries have seen an unprecedented increase in cost of journal subscriptions particularly in the science, technology, and medica publishing arena. Scholarly publishers and academic libraries are included in what is referred to as the “serial crisis”. The technological development added a new dimension to the crisis by providing both new solution and challenges.
This report makes a conclusion that the marketplace for scholarly publishing has developed in a way that challenge libraries’ and publisher’s ability to acquire the works needed by their users. Rapidly rising journal subscription prices have made it difficult to purchase the publications necessary for research and education. Publishers of all types are exploring a range of new subscription models such as free online scholarly publishing, e-journals, hybrid paper-electronic journals, author posting to their own web sites, and self-archiving to institutional in response to the opportunities and challenges that have appeared. No one model has proven advantageous over the others. The future of scholarly publishers is hard to predict. Economic pressures and information technology progress lead to new look at the future for scholarly publishers. Developing effective, sustainable, quality and economically viable models is the key for successful future to scholarly publishers. It might be difficult to predict the future of electronic publishing, but it is possible to improve it.