Aaup annual meeting 2009 operating stats

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  • 1. AAUP 2010 Annual Meeting Salt Lake City, Utah Prepared by Kimberly Schmelzinger
  • 2.  Introduction  Data Methodology  Highlights: 2009 Survey  State of the Industry  The Future: Questions and Issues  Q&A 6/17/2010 2
  • 3.  AAUP Annual Statistics have been collected for over 30 years.  Captures valuable information on the scholarly publishing industry.  This is a benchmarking report: collected statistics that enables the comparison of performance across institutions in the industry.  Data should be used as a means of evaluating own practices, not as formal comparative measurements.  The statistics are a valuable tool for understanding the university press community, but they should not be applied rigorously as standards or targets. 6/17/2010 3
  • 4.  60 presses participated in this year’s survey, decrease of 6 presses from last year’s 66.  Data is collected from participating presses, consolidated across groups, across fulfillment types, and across all presses; all data results are expressed as percentages of net sales to preserve confidentiality and to facilitate comparisons.  Some measures are expressed as averages, e.g., average employees and average titles per employee.  Sales Groups are as follows: Group 1: Up to $1.5 million Group 3: $3 million to $6 million Group 2: $1.5 million to $3 million Group 4: Over $6 million 6/17/2010 4
  • 5. ASSOCIATION OF AMERICAN UNIVERSITY PRESSES ANNUAL STATISTICS 2006 THROUGH 2009 Participating Presses The University of Alabama Press (1) University of Nebraska Press (3) The University of Arizona Press (2) University Press of New England (2) The University of Arkansas Press (1) University of New Mexico Press (2) University of British Columbia Press (2) New York University Press (3) University of California Press (4) The University of North Carolina Press (3) The Catholic University of America (1) Northern Illinois University Press (1) The University of Chicago Press (4) Northwestern University Press (1) University Press of Colorado (1) University of Oklahoma Press (3) Columbia University Press (4) University of Pennsylvania Press (3) Cornell University Press (3) The Pennsylvania State University Press (2) Duke University Press (3) University of Pittsburgh Press (1) Gallaudet University Press (1) Princeton University Press (4) Georgetown University Press (3) Purdue University Press (1) University of Georgia Press (2) Rutgers University Press (2) Harvard University Press (4) University of South Carolina Press (1) University of Hawai'i Press (3) Southern Illinois University Press (1) University of Illinois Press (3) Stanford University Press (3) Indiana University Press (3) Syracuse University Press (1) The Johns Hopkins University Press (4) Teachers College Press (3) University Press of Kansas (2) Temple University Press (2) The Kent State University Press (1) University of Texas Press (3) The University Press of Kentucky (2) Texas A&M University Press (2) Louisiana State University Press (2) University of Utah Press (1) The University of Massachusetts Press (1) Utah State University Press (1) The MIT Press (4) Vanderbilt University Press (1) The University of Michigan Press (3) The University of Virginia Press (2) University of Minnesota Press (3) University of Washington Press (2) University Press of Mississippi (2) Wesleyan University Press (1) University of Missouri Press (1) University of Wisconsin Press (2) Naval Institute Press (3) Yale University Press (4) 6/17/2010 5
  • 6.  Net sales for 2009 across all 60 reporting presses were $255.8 million, a decrease of 10.5% (2008 = $285 million).  Sales declined for the period 2006-2009 by 4.1%, compared to last year’s compound growth rate of 10.1%.  Returns were 21.5% of shipments, an increase from 2008’s rate of 20.5%. 6/17/2010 6
  • 7. 2009 2008 2007 2006 Group 1: Up to $1,500,000 19 18 17 17 Group 2: $1,500,000 to $3,000,000 16 16 16 15 Group 3: $3,000,000 to $6,000,000 17 17 16 16 Group 4: Over $6,000,000 8 8 8 8 All Presses 60 59 57 56 Based on respondents to the 2009 survey 6/17/2010 7
  • 8. Net Average Cumulative Operating Average Full Time Sales # of Average Net Total Income/ Titles Equivalent Increase Presses Total Net Sales Sales Returns Expenses (Expense) Published Staff 2006-09 Group 1 19 $14,900,000 $780,000 21.3% 123.0% (65.8%) 40 11.7 (9.0%) Group 2 16 $31,000,000 $1,900,000 22.8% 108.1% (48.2%) 72 21.5 (15.1%) Group 3 17 $69,700,000 $4,100,000 21.2% 84.6% (21.2%) 118 35.5 (7.0%) Group 4 8 $140,200,000 $17,500,000 21.4% 76.9% (17.2%) 241 86.4 (0.4%) All 60 $255,800,000 $4,300,000 21.5% 85.4% (24.9%) 118 38.8 (4.1%) 6/17/2010 8
  • 9. 6/17/2010 9
  • 10. 6/17/2010 10
  • 11.  Total operating expenses reported in 2009 were $219 million, or 85.4% of sales. 6/17/2010 11
  • 12. Total Operating Expenses as Year Expenses Total Net Sales Percent of Sales 2009 $218,591,000 $255,827,000 85.4% 2008 $224,244,000 $284,989,000 78.7% 2007 $209,129,000 $271,924,000 76 .9% 2006 $196,675,000 $259,783,000 75.7% 6/17/2010 12
  • 13.  Net operating expense, before parent institution support and other subsidies, was 24.9% of net sales, increased from 17.2% in 2008.  For all university presses, net expense was 1.7% of sales in 2009, a decrease from 2008’s 2.9% and the 5.0% reported for 2007. 6/17/2010 13
  • 14.  46 presses reported support of $22,200,000 for 2009.  Parent institution support in 2009 stood at 8.7% of net sales. For previous years, the percentages were: 2008 7.8% 2007 7.6% 2006 7.7%  Of the 46 presses reporting subsidies in 2009: 22 received increased support, 19 received decreases, and 5 saw no change. 6/17/2010 14
  • 15.  58 presses published 5,930 titles in 2009, an increase of 4.8% over 2008.  Compare this to the sales decrease of (10.5%) for 2009.  Straight reprints: just over 5,200.  Unit sales of clothbound books were 41.6% of total unit sales in 2009, compared to 43.3% in 2008 and 37.2% in 2007.  In contrast, dollar sales of cloth were 53.9% of total dollars, the first decline since 2005. 6/17/2010 15
  • 16. External Fulfillment Internal Fulfillment All Group1 $89,000 $62,000 $78,000 Group 2 $103,000 $79,000 $90,000 Group 3 $170,000 $90,000 $131,000 Group 4 $200,000 n/a $192,000 All Presses $170,000 $88,000 $143,000 6/17/2010 16
  • 17. 6/17/2010 17
  • 18.  Total inventory levels for all reporting presses were $89,475,000 for 2009, an increase of less than 1.0% over the 2008 level of $88,888,000. 6/17/2010 18
  • 19. 6/17/2010 19
  • 20.  Accounts receivable for 2009 was $48,610,000, a decrease of 15% from 2008’s reported level.  The ratio Days of Sales Outstanding decreased for the 4th time in 4 years, ending at 70 days in 2009.  2008: 73  2007: 74  2006: 76 6/17/2010 20
  • 21. 6/17/2010 21
  • 22. Number of Presses Fulfillment Expense as Reporting % of Net Sales Group 1 External 14 17.0% Group 1 Internal 5 17.2% Group 2 External 8 14.8% Group 2 Internal 8 15.2% Group 3 External 10 11.0% Group 3 Internal 6 13.2% Group 4 External 7 13.6% Group 4 Internal 1 n/a All External 39 13.3% All Internal 20 14.1% All Presses 59 13.4% Group 1 Total 19 17.1% Group 2 Total 16 15.0% Group 3 Total 16 11.7% Group 4 Total 8 13.6% 6/17/2010 22
  • 23. As % of Net Sales 2008 2009 % change 2008 2009 Chains $ 24,513,310 $ 19,211,723 -27.6% 10.5% 9.5% General Bookstores $ 30,186,957 $ 23,506,071 -28.4% 12.9% 11.6% College Bookstores $ 28,905,894 $ 26,806,134 -7.8% 12.3% 13.3% Online Retailers $ 39,703,412 $ 43,502,153 8.7% 17.0% 21.5% Wholesalers and Jobbers $ 80,631,968 $ 66,584,092 -21.1% 34.4% 32.9% Libraries $ 2,589,451 $ 2,135,053 -21.3% 1.1% 1.1% Other Institutions $ 10,474,001 $ 5,455,214 -92.0% 4.5% 2.7% Direct to Consumer $ 12,341,427 $ 10,987,810 -12.3% 5.3% 5.4% Special Sales $ 1,600,087 $ 1,184,560 -35.1% 0.7% 0.6% Remainders $ 1,707,609 $ 1,295,168 -31.8% 0.7% 0.6% Other $ 1,526,492 $ 1,598,526 4.5% 0.7% 0.6% Total Domestic Sales $ 234,180,608 $ 202,266,506 -13.6% Domestic Sales $ 234,180,608 $ 202,266,506 -13.6% 87.5% 87.9% Export Sales $ 33,416,003 $ 27,852,535 -16.6% 12.5% 12.1% Total Press Sales $ 267,596,610 $ 230,119,041 -14.0% 6/17/2010 23
  • 24. 6/17/2010 24
  • 25. Cloth Units Paper Units Cloth Dollars Paper Dollars Group 1 36.3% 63.7% 49.0% 51.0% Group 2 35.2% 64.8% 46.7% 53.3% Group 3 27.9% 72.1% 41.9% 58.1% Group 4 48.8% 51.2% 59.9% 40.1% All Presses 41.6% 58.4% 53.9% 46.1% 6/17/2010 25
  • 26. 6/17/2010 26
  • 27. Returns as Returns as Net $ Sales Net $ Sales Returns Returns % of sales, % of sales, 1 Jul 2009 to 1 Jul 2008 to 1 Jul 2009 to 1 Jul 2008 to Third Qtr Third Qtr Grp # 31 Mar 2010 31 Mar 2009 % change 31 Mar 2010 31 Mar 2009 % change 2009-10 2008-09 1 24 $13,262,498 $13,051,313 1.6% $2,557,349 $3,309,079 -22.7% 16.2% 20.2% 2 18 $28,432,878 $29,546,813 -3.8% $6,113,170 $7,189,251 -15.0% 17.7% 19.6% 3 18 $62,455,493 $59,508,950 5.0% $11,376,514 $12,644,259 -10.0% 15.4% 17.5% 4 6 $81,004,225 $77,597,720 4.4% $17,046,469 $17,749,075 -4.0% 17.4% 18.6% All 66 $185,155,094 $179,704,796 3.0% $37,093,502 $40,891,664 -9.3% 16.7% 18.5% 6/17/2010 27
  • 28. number Net $ Sales Budgeted Sales of 1 Jul 2009 to 1 Jul 2009 to Group* responses 31 Mar 2010 31 Mar 2010 % change 1 15 $8,969,850 $9,136,761 -1.8% 2 14 $22,140,990 $23,248,508 -4.8% 3 16 $56,832,321 $54,720,266 3.9% 4 6 $81,004,225 $77,244,399 4.9% All 51 $168,947,386 $164,349,934 2.8% 6/17/2010 28
  • 29.  57 responding presses 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% jan feb mar apr may june july aug sept oct nov dec 6/17/2010 29
  • 30. YES NO Would data on inventory units be useful? 53.7% 46.3% Can you provide? 66.0% 34.0% Is sales data reported on Appendix 3 by publication yr? 50.0% 50.0% By true publication year, or by fiscal year? 29.4% 70.6% 6/17/2010 30
  • 31. YES NO Does the inc lusion of hurts/remainder data distort Appendix 3? 64.2% 35.8% Can you remove? 67.9% 32.1% Should the data be removed from all sc hedules (a la the c hange to distributed presses reporting from 3 years ago)? 38.9% 61.1% 6/17/2010 31
  • 32. YES NO Does your parent institution allow you to roll over Net Income (Expense) from year to year? 77.2% 22.8% Internal copy editing in inventory? 5.3% 94.7% External copy editing in inventory? 15.8% 84.2% Internal prod costs in inventory? 10.3% 89.7% External prod costs in inventory? 41.4% 58.6% WIP in inventory turnover? 32.8% 67.2% 6/17/2010 32
  • 33. YES NO Do you treat POD as reprint? 26.8% 73.2% Dig print 2nd as reprint? 64.3% 35.7% Short run 2nd as reprint? 71.4% 28.6% 6/17/2010 33
  • 34.  Additionally, 10 respondents stated that ebook data should be included in the annual survey; half said that the data should be incorporated into Appendix 3.  The Business Systems Committee held an electronic discussion in March about the various ways this data could be included.  Other suggestions for Appendix 4 data gathering: ▪ how ebook editions are released (e.g., simultaneous with cloth or paper or both; or, if after, how long?) ▪ What platforms are you using to archive your ebook files? ▪ Do you have access or control over these files? If not, where does access/control reside? 6/17/2010 34