Managing and optimizing your library’s budget is a challenge. With shifting patron demands and the rising cost of digital resources, the task can feel overwhelming.

The Evolving Landscape of Library Budgeting

It used to be simple: buy a physical copy of a book and place it on a shelf. When digital formats first emerged, the process was similarly straightforward—purchase a perpetual license and put it on the digital shelf. However, the landscape has changed. Currently, 92% of eBooks and 53% of audiobooks are sold under some type of metered license. This shift complicates the buying process, making it time-consuming and often difficult to manage effectively.

Navigating this complex environment can mean dealing with multiple services, each of which may impose platform fees, subscription costs, and variable pricing structures. As libraries grapple with these challenges, they also face the daunting issue of holds. Patrons are placing more holds than ever, with numbers doubling, tripling, or even increasing fivefold compared to previous years. This exponential rise in holds makes it increasingly difficult to maintain an acceptable holds ratio, particularly when patrons can place holds on the same title across various platforms.

This scarcity model can lead libraries to raise their holds ratios in an attempt to manage costs, ultimately resulting in patron annoyance. These challenges are unavoidable, but there is a solution: Hoopla.

Hoopla: An All-in-One Solution

Hoopla is unique because it offers a comprehensive platform that delivers all formats in one ecosystem. This approach simplifies many aspects of library management, making it easier to:

  • Optimize Budgets: By consolidating numerous digital resources under one service, Hoopla helps libraries manage expenditures more effectively.
  • Manage Holds and Maintain Ratios: While patrons can put the latest best seller on hold, they still have access to millions of titles and won’t walk away empty handed.
  • Keep Patrons Satisfied: Currently on Hoopla, less than 50% of patrons are placing holds on Flex titles. Of those patrons placing holds, on average 36% borrowed another title. By eliminating the scarcity model and consolidating in one platform, libraries have noticed a change in patron behavior. 
  • Maintain Series Integrity: It can be challenging to keep series titles together across various services. With Hoopla, patrons can easily find and enjoy entire series without interruption.  
  • Prevent Catalog Shrinking: The pay-per-use model of Hoopla ensures that your digital catalog remains vibrant and diverse. By paying only for what patrons actually borrow, you avoid the pitfalls of licensing agreements that may lead to lost access over time.