OCLC to Hold Prices at Current Levels through June 2004

DUBLIN, Ohio, USA,30 April 2003—In recognition of the current economic realities facing libraries during the continued downturn in the global economy, OCLC will hold prices at current levels next year, implement a number of business restructuring actions to control and reduce operating costs, and continue to invest in the future for libraries.

“In this difficult time, the OCLC cooperative can not only offer hope, but practical solutions that can help libraries, museums and archives increase their productivity and do more with less,” said Jay Jordan, President and Chief Executive Officer, OCLC. “Indeed, our objective of reducing the rate of rise of library costs is more important than ever. It is also critical that we continue to invest in products and services that will help libraries serve their users at levels they have come to expect.”

During the 2003/2004 fiscal year, beginning July 1, 2003 and ending June 30, 2004, there will be no price increases in OCLC cataloging and metadata services, cooperative discovery services, and digital and preservation services. For OCLC services that provide access to third-party content, OCLC will pass through to libraries any royalty increases that are charged by content owners. OCLC provides third-party content in the FirstSearch service, Electronic Collections Online database and netLibrary eBooks.

OCLC continues to invest in the future of libraries. OCLC is enhancing WorldCat (the OCLC Online Union Catalog) to provide libraries with new functionality and efficiencies to help them control their costs. OCLC has also recently launched new products and services-such as the QuestionPoint virtual reference service, Digital Archiving, CONTENTdm digitization software, and netLibrary eBooks-that will help libraries meet the challenges of the digital age.

“Cooperation, collaboration and resource sharing-the core values of the OCLC cooperative-can help libraries rise to the challenge of these demanding economic times,” said Mr. Jordan. “We fully intend to continue to make OCLC membership the best value in the worldwide library community.”

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