Squeezed Shelves: Increased Costs Jeopardize Library Acquisitions

Libraries face a growing compression of their financial resources. This week, we examine the final chapter of this series on library financials by delving into what makes a library, well, a library: the availability of items for use. 

At the core of this battle lies a difficult paradox: In an era of remarkable information proliferation, libraries – the democratizing forces for open access to knowledge – wrestle with the rising expense of acquiring and licensing the resources they need to offer. This conflagration threatens to erode the accessibility and variety of library collections, impeding their ability to serve their core constituencies.

The Growing Burden of Acquisition:

The cost of acquiring physical and digital materials has steadily climbed for years. Book prices have exploded, outpacing inflation by nearly 20% since 2010 (Bureau of Labor Statistics, 2023). Additionally, publishers and information providers increasingly bundle content into expensive packages, forcing libraries to pay for materials they may not need (OCLC, 2022). This trend is particularly problematic in academic libraries, where access to specialized journals and databases can cost tens of thousands of dollars. The providers of these databases, of which there are many, have to adjust their prices to turn a profit. This results in higher prices being passed down to the consumer (i.e. library).

The digital realm presents its own set of challenges. E-books, often touted as a cost-effective alternative to print, frequently come with restrictive licensing agreements and exorbitant price tags. Also, publishers often employ complex pricing models based on user access and simultaneous usage, significantly inflating costs for libraries serving large communities (American Library Association, 2023).

The Licensing Labyrinth:

Beyond the costs of acquisition, libraries encounter a complicated web of licensing agreements. Access to online resources requires navigating a maze of complex terms and conditions, restricting user access and limiting interlibrary loan capabilities. These restrictions impede research, suppress collaboration, and limit the potential reach and impact of library collections.

Moreover, the rapid evolution of technology poses ongoing challenges. As publishers develop new formats and distribution platforms, libraries must constantly adapt their licensing agreements, often at the expense of their budgets. This continuous negotiation process is

 a drain on resources, diverting staff time and expertise away from core library services.

Consequences of a Constrained Budget

The ramifications of growing costs are far-reaching. Libraries facing fiscal pressures are forced to make difficult choices:

• Diminished acquisition: Limiting the purchase of new materials, leading to obsolete and incomplete collections.
• Staffing reductions: Shrinking staff size, compromising personal service, and potentially impacting programs.
• Subscription cancellations: Dropping access to critical databases and journals, particularly impacting academic libraries. Possibly rendering the relevance of the library as a research institution nearly null. 
• Reduced hours: Shortened service hours serve fewer patrons, limiting community access and impacting already vulnerable populations.

These consequences paint a dismal picture for the future. A diminished collection translates to limited opportunities for research and learning, disproportionately impacting low-income communities and marginalized groups who rely on public libraries for essential resources and access to technology. 

Seeking Solutions

Despite the challenges, libraries are not easily compliant. Several initiatives aim to address the rising cost burden and ensure they remain viable spaces for learning:

• Consortiums and collaborative purchasing: Libraries join forces to arrange better deals with publishers and vendors, leveraging their collective bargaining power. We discussed consortiums in a previous post several months ago, but the strength of these organized groups is still as exceptional now as it was then. 
• Open access advocacy: Promoting open access initiatives that make scholarly publications freely available reduces dependence on expensive subscriptions.
• Creative resource sharing: Expanding interlibrary loan programs and exploring creative sharing ideas to maximize the spread of existing collections.
• Community partnerships: Teaming with local organizations and educational institutions to secure funding and share resources.

Technology also offers potential solutions. Libraries are implementing new systems to manage licenses more effectively, track usage data, and negotiate informed acquisitions. Additionally, examining alternative distribution platforms and open-source resources can offer cost-effective options for content access.

Rising acquisition and licensing costs threaten to silence these vital voices in the information ecosystem. Investing in libraries is not just a fiscal consideration; it’s an investment in education, democracy, and social stability. Only through collective and proactive action, and a shared commitment to knowledge accessibility can we ensure that libraries continue to thrive as beacons of learning and empowerment in the digital age.