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Weekly News Digest

April 3, 2008 — In addition to this week's NewsBreaks article and the monthly NewsLink Spotlight, Information Today, Inc. (ITI) offers Weekly News Digests that feature recent product news and company announcements. Watch for additional coverage to appear in the next print issue of Information Today. For other up-to-the-minute news, check out ITIís Twitter account: @ITINewsBreaks.

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Outsell Issues Forecast Report on Libraries

Libraries are successfully changing their models to stayabreast of the new information world paradigm, according to Outsell’s "2008Library Market Size, Share & Forecast Report," which analyzes the globalmarket for information spending in all types of libraries. Outsell, Inc.(www.outsellinc.com) forecasts a 3.1% compound annual growth rate for contentspending from 2007–2010, from $22.5 billion to $24.7 billion.

The report includes deep, rich data examining the global market for content among government, public, academic, school, corporate, and other special libraries. Among reported trends and findings are the following:

  • While overall library investments are increasing, the proportional share devoted to almost all content segments is shrinking. The one exception is education/training allocations, which have increased from 4% in 2004 to 11% in 2007.
  • Self-publishing and syndication technologies are facilitating the rise of user-generated and institutionally generated content that, in many cases, displaces commercially published content. Libraries of all types are creating original content for their users.
  • Today’s digital age is reflected in where libraries are putting their dollars. Most content spending (21%) is going toward scientific and technical content. That’s followed by educational information (11%), news (11%), and legal/tax/regulatory (10%). The remainder is distributed among such information types as HR, marketing and IT research, and credit and other business information.
Outsell is a research and advisory firm focused on the publishing, information, and education industries. Companies that would like to purchase the report should go to http://outsellinc.com/store/products/719?refid=pr719.

Source: Outsell, Inc.



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