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Wiley is a leading publisher for the scientific, technical, and medical communities worldwide. Our STM programs encompass journals, books, reference works, and electronic products in subjects such as the life and physical sciences, chemistry, statistics and mathematics, electrical and electronics engineering, and select medical areas with an emphasis on cancer medicine. We develop products in the United States, the United Kingdom, and Germany—primarily in English, but also in German—for global distribution.
Wiley InterScience's competitive advantages include high-quality content; a growing customer base of academic and corporate libraries and researchers worldwide; a reliable online interface that is intuitive, user-friendly, and permits easy access to critical information; licenses that are fair, flexible, and deliver value; and Wiley's global reputation. The service provides online and print access to more than 400 Wiley journals, more than 200 volumes of critical reference information, and more than 700 titles from Wiley InterScience OnlineBooks™. Access is through subscription licenses that have been signed by customers around the world on mutually attractive financial terms. Individual article access is available for a modest fee. We continue to enhance the value of Wiley InterScience content through such innovations as the capacity to search across all products, access to journal tables of content and abstracts via hand-held computers and Web-enabled phones, and the ability to purchase access to individual articles not covered by subscriptions. The market response to Wiley InterScience has been very favorable. Approximately 45% of our worldwide STM revenues are Web-enabled.
We seek to grow our online business not only by expanding our customer base, but also by adding more content and resources for our customers. One example is EarlyView, a feature that makes it possible for customers to access individual articles online well in advance of the print issue. We helped forge CrossRef, an unprecedented alliance with over 300 other publishers (with more continuing to join) that facilitates scientific research by linking references in journal articles directly to the cited material, as well as providing additional functionality such as a Google-powered full-text search across multiple publishers' content, and forward linking. Dozens of our major reference works are available in completely searchable, full-text format online, as part of our migration of our must-have content to digital delivery. Content is being revised more frequently, benefiting our customers, while access is being sold on a subscription basis, creating revenue growth opportunities for Wiley.
Publishing alliances continue to play a major role in our STM success. We publish the journals of dozens of societies, such as the American Cancer Society's Cancer; these partnerships confer mutual benefit, with the societies gaining Wiley's publishing and marketing expertise while Wiley receives superlative peer-reviewed scientific content and enhanced visibility among society memberships. Another such alliance is with the IEEE, the premier society for electrical, electronics, and computer engineers, with which we publish a co-branded imprint of books in the relevant fields.
Future growth in our STM business will continue to reflect increased worldwide demand for research information, new products, and the opportunities provided by our migration from print to electronic formats, with the evolution of product and business model alike keyed closely to customer need. Our key strategies include getting as close as possible to the customer, the user, and the transaction; supporting the current subscription base through conversion of print products to multiyear licenses; introducing new products and services that provide both key content and context in a digital information environment; and continuing the development of a robust technology infrastructure. |
