1. Clarivate introduces subscription access to academic resources for libraries. 2. New model supports teaching, learning, and research in a cost-effective way. 3. ProQuest Ebooks and Digital Collections enhance scholarly content availability. 4. Transitioning from perpetual purchases to subscriptions to meet library demands. 5. AI tools depend on access to vetted academic content for effective discovery.
This new strategy could drive subscriptions, enhancing revenue. Similar moves by companies have led to stock price increases.
The new subscription model directly aligns with Clarivate's core business. Changes in revenue models can significantly impact investor sentiment and valuation.
The shift toward subscriptions will stabilize CLVT's revenue over time. Historical examples show successful transitions result in sustained growth.
LONDON, Feb. 18, 2025 /PRNewswire/ -- Clarivate Plc (NYSE:CLVT), a leading global provider of transformative intelligence, today announced a new subscription-based content access strategy. The new approach breaks down barriers through broad and affordable access to highly curated, trusted academic resources, including Ebooks and primary digital collections, enabling every library to support research, teaching and learning goals.
The way institutions purchase books, journals and other content for their users has shifted in recent years, particularly post-pandemic. Increasingly, libraries are faced with complex buying models that do not offer the content they require to support curricula and research needs. Libraries continue to prioritize solutions that offer affordability in a sustainable way.
At the same time, AI-powered chatbots are becoming ubiquitous as a method of discovery for students and researchers. The ability of academic AI tools to deliver reliable outputs depends on access to broad, vetted academic content.
Bar Veinstein, President, Academia & Government at Clarivate said: "We're addressing libraries' evolving needs by breaking down barriers and delivering seamless access to our curated content. Our goal is to make learning and research more accessible and affordable at a large scale, unlocking opportunities for every library, in every classroom and at every research department."
"Through this transformative approach, we're helping institutions connect end users with academic AI tools grounded in comprehensive curated content, reinforcing libraries' essential role in upholding academic integrity and excellence."
The new strategy includes the introduction of two market-leading solutions that are now available.
As part of this transformative strategy and following changes in demand from libraries, Clarivate will also phase out one-time perpetual purchases of digital collections, print and digital books for libraries. These transitions will take place throughout 2025, in close cooperation with customers. For more details see our support page.
Veinstein said: "From the introduction of Ebook subscriptions to index-based linking and discovery, creating cloud-based library management systems and academic AI research assistants, we have a proven history of pioneering and collaborating at the forefront of the industry."
"We're now embarking on a new era in how institutions and their users access and consume content. We are committed to working as closely as ever with libraries and publishers, providing the guidance and solutions needed to meet the evolving needs of the community."
For more information on ProQuest Ebooks, see here.
For more information on ProQuest Digital Collections click here.
About Clarivate: Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com.
Media contact: Amy Bourke-Waite [email protected]
SOURCE Clarivate Plc