RELX Scientific Journal Profits
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A discussion about how RELX became one of the most profitable companies through scientific journal publishing and database businesses.
"RELX owns LexisNexis and they're like a multibillion dollar company. I believe RELX is one of the most profitable companies in the world in terms of margin. Here's how their scientific journaling publishing works: These doctors come up with amazing insights and scientific journals pay them like $500 for their article - that's all they get paid. Then every university has to pay money to get access to these journals.
They make about $4 billion in revenue and $3 billion in profit. They own massive database businesses like LexisNexis which has billions of legal records, PatentSite with 135 million patent documents, Law360 (which is like a daily newsletter for lawyers), and other database companies.
I knew about this because I had friends getting their PhDs who would tell me how it works. I'm like 'oh that's a racket' - these dentists and researchers publishing stuff don't understand how margin works. They're getting paid $500 while universities have to pay huge amounts for access. When we were launching The Hustle, I researched database businesses like crazy and came across this company because they own so many valuable information assets."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.