Briefing Paper on Purchasing Pediatric Physical Therapy Title
Over the past 4 years, Pediatric Physical Therapy faced declining service from Lippincott Williams & Wilkins (LWW) and an unexpected decline in revenue as a
result of price changes for institutional subscriptions to the journal. As the time approached to renew the contract with LWW in December 2011, we decided to
consider finding a new publisher.
Following lengthy discussions with LWW and other publishing houses we learned that our options were hampered because LWW owns the title “Pediatric
Physical Therapy.” Changing publishers would require the Section to either purchase the title from LWW or change the name of the journal. A major problem
with changing the name is that Pediatric Physical Therapy is now an indexed journal title and is considered a ‘brand name’ that is well recognized nationally and
internationally. Changing the name could jeopardize the journal’s indexing status, which took a long time to achieve. Another problem is that if we leave the
publisher without owning the title, others could move in to publish under this indexed title and take over our institutional subscriptions, which are a major
source of revenue for the journal.
Because of the complexities of the situation, we have recently finalized a contract with LWW that provides the Section with the option of purchasing the title to
the journal. This gives us more time to consider the options available to us.
FINANCIAL CONSIDERATIONS: The cost to purchase the title is approximately $900,000. The amount was derived from the 2 to 2.5 times the journal’s annual
gross income that is the standard pricing of journal titles. We would be required to pay the full amount to LWW in one lump sum to avoid paying interest to the
publisher. To purchase the title mixed sources of funding appear to be best, and could include:
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dollars from the Section’s reserve fund;
a loan that could be repaid over a time period deemed reasonable by the Section;
undertaking special fund raising activities, such as a campaign to raise money to “Take the Title”;
for a period of time, earmarking funds for a Title Campaign that traditionally have been donated to the Foundation for Physical Therapy;
organizing educational conferences to raise money for the Title Campaign for which speakers might donate their services;
using profits from the planned IV STEP Conference organized with the Neurology Section;
designating SOPAC proceeds for a Title Campaign.
soliciting donations from members of the Section and friends of the journal;
holding fund-raising receptions, dinners, or special events c in conjunction with CSM and SOPAC;
putting a % of the Section’s yearly revenue toward repayment of the loan. This amount could be set at a level that does not significantly compromise
ongoing Section activities.
The following pros and cons are presented 3 options: 1) maintain the status quo, 2) purchase the title, or 3) change the name of the journal
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Option 1: Maintain Status Quo
Financial
Issues
Pros
No immediate
cost
Cons
Possible difficulties obtaining
best financial return for
section, because the title is a
bit of a “trump card” for LWW
in contract negotiations
Lack of control over OVID
pricing with LWW- as both
LWW and OVID are owned by
a parent company that adjusts
pricing
LWW shares copyright with
Section
Section does not own its
primary asset while other
sections have ownership of
their journal title- We share
royalties with the publisher
Option 2: Purchase “Title”
Pros
The Section would
own its primary asset
Cons
Other section activities
may be affected during
period of purchase
OVID pricing could be
controlled by contract
with publisher
Pros
No immediate
cost
OVID pricing
could be
controlled by
contract with
publisher
Section would
own copyright
of all materials
Ability to obtain
contract with
publishing
company
providing most
favorable
financial terms
for the section.
Section would
provide the
subscriber base.
Section would own
copyright of all
materials
Ability to obtain
contract with
publishing company
providing most
favorable financial
terms for the section.
Section would provide
subscriber base.
Most likely Dutch &
other Associations
would continue to
partner with us.
Option 3: Change Journal Name
Need to renegotiate
arrangements with
Dutch Association of
Pediatric Physical
Therapy
Most likely
Dutch & other
Associations
would continue
as partners.
Cons
New title would not be
indexed. Would need to
establish a publishing
track record and reapply
for indexing. Authors may
hesitate to submit articles
because the new title
would not be indexed
LWW would still own
“Pediatric Physical
Therapy” title and could
“reconstitute” an
editorial board in
competition to our new
journal title
Need to renegotiate
arrangements with Dutch
Association of Pediatric
Physical Therapy
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Option 1: Maintain Status Quo
Publisher
Issues
Editorial
Issues
Option 2: Purchase “Title”
Pros
Large Publisher
Services reflect
an “economy of
scale” (less
expensive
paper, ink, etc.,
because they
buy in bulk). hitech expertise
Cons
“Society Journals” are a very
small portion of the company
business and sometimes
receive less attention, and
frequently rotating staff in
production and account
management (the “publisher”)
Current
contract
provides
greater input
into selection
of “publisher”
Possibility of declining service Could continue with
with changes in “publisher” or LWW if they provide
production staff. Current
best proposal
publisher’s extraordinary
competence makes it likely
that he will be promoted to a
higher position. We have had
4 different publishers during
the last 10 year contract
period, none as competent as
our current publisher.
Indexing maintained.
Indexing
maintained.
Application for
Science Citation
Indexing in
progress
Pros
Could select publisher
that provides best
service including our
full approval of
changes in key
personnel that
oversee and produce
the journal in the
publishing house.
Application for
Science Citation
Indexing in progress
Cons
If a new publisher
chosen, there could be
an adjustment period as
both parties learn each
other’s processes The
contract we just signed
is for a 10 year period
Would need legal advice
regarding terminating
the contract if we
choose to start
publishing under a
different title.
Option 3: Change Journal Name
Pros
Could select
publisher that
provides best
service
Could select
publisher with
most expertise
in obtaining
Science Citation
Indexing
Cons
If new publisher chosen,
there could be an
adjustment period as
both parties learn each
other’s processes. The
contract we just signed is
for a 10 year period
Would need legal advice
regarding terminating the
contract if we choose to
start publishing under a
different title.
Loss of indexing, could be
competing with old title if
LWW continues to
publish under the name
Pediatric Physical Therapy
Need to reapply for
indexing in PubMed
Delay in application for
indexing in Science
Citation Index
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The Section leadership conducted the following survey in spring 2012:
The Section leadership is interested in members’ thoughts regarding this situation and welcome your feedback. Please take a minute to complete the following
brief survey regarding the purchase of the journal title. The Section will be collecting member feedback through June 1, 2012, and hopes to make a decision
regarding the purchase of the title at the Section’s Strategic Planning Meeting in early July.
1. I believe that the Section should pursue option #1, and maintain the current status quo
a. Strongly agree
Agree
Disagree
Strongly disagree
2. I believe that the Section should pursue option #2, and purchase the journal title
a. Strongly agree
Agree
Disagree
Strongly disagree
3. I believe that the Section should pursue option #3, and change the journal title
a. Strongly agree
Agree
Disagree
Strongly disagree
Comments: (limit to 500 characters)
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