“Since the cancellation, MIT Libraries estimates annual savings at more than 80% of its original spend. This move saves MIT approximately $2 million each year.”
MIT dropped all 675 Elsevier titles in 2020 and four years later most article requests get filled in minutes anyway. That is $2 million a year MIT was paying for access it now gets other ways. Elsevier’s pricing was based on historic spend, not on what anything costs. Universities paid millions to rent back their own faculty’s research, and the one that stopped barely noticed.