Scholarly publishing is a very unique business. In a typical business, you have two parties: sellers and buyers. In scholarly publishing you also have sellers and buyers, these are the publishers and the research libraries. However, you have two additional parties. On one side, you have authors, who freely and eagerly provide content (“publish or perish”). On the other side, there are editors and reviewers, who act as gatekeepers. They do so for a variety of reasons: sometimes for financial remuneration, but mostly out of civic duty and to gain scholarly prestige.
For scholarly publishing to be successful as a business, publishers must convince libraries to subscribe to their publications. Because budgets have become tighter over the last few years, librarians are quite resistant to increase their subscription inventory. The trend, in fact, is to prune, prune, and prune. Librarians, therefore, must be convinced of a journal’s high quality before adding it to their subscription inventory. This resistance by libraries has been an important force for maintaining quality in scholarly publishing.