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Overdrive is set to exhibit data for the research that was done to unleash circulation insights for the digital library connection. The digital distributor, who is known for its e-books, audiobooks, and magazines, will uncover all the details in the 2023 American Library Association Annual Conference & Exhibition. With their insights, people will be able to know the rising popularity and readers engagement in digital books, magazines, and streaming videos along with their collection efficiencies.
OverDrive will publish its Science of Digital Library Performance whitepaper after its international user group conference, Digipalooza 2023. Digipalooza is likely to be held between August 9 to 11 in Cleveland, Ohio. Its registration is currently open. The data of the whitepaper will feature results after a comprehensive analysis of 16,000 libraries and several anonymized circulations.
Also, the research is done in the following categories:
- Digital Collection Development Practices
- Merchandising and Audience Engagement
- Literacy and Reading Data
Sampling of Findings
The sampling of the white paper finding includes:
- Cost-per-Loan: Libraries that utilized multiple OverDrive Marketplace content access models reduced their cost-per-checkout across their entire digital collection compared to libraries that did not (based on data January 1–June 8, 2023).
- CPC (Cost per circ) Access Model: 17 percent lower cost per checkout ($.91) compared to libraries that did not utilize CPC ($1.09).
- OverDrive Max Access Model: 25 percent lower cost per checkout ($.92) vs. those that did not utilize OverDrive Max ($1.23).
Note: Results reflect the utilization of CPC and OverDrive Max in combination with other factors, such as multiple lending models and proven curation and merchandising practices.
- Between May 2021 and May 2023, libraries have increased the number of distinct titles purchased in CPC (32,479 to 41,746; +29 percent) and OverDrive Max (4,732 to 7,853; +66 percent).
Patron Interests and Holds Data
- Between April and June 2023, patrons used the Notify Me tag in the Libby app to indicate titles of interest that are not in the library’s digital collection 7.7 million times for 920,000 unique titles from approximately 15,000 libraries.
- Libby users have the option to place a hold on a title if it is unavailable for immediate checkout and can cancel or suspend the hold while keeping their place in line to borrow at a later date. In a sample of over 171 million holds placed through OverDrive or Libby (July 2022-June 2023), 77 percent were successfully fulfilled as checkouts, and 23 percent were canceled. Of the 171 million holds, 39 percent were suspended (and may or may not have resulted in a checkout). Of those suspended holds, 53 percent were ultimately canceled. In summary, holds are more likely to convert into checkouts when holds are not suspended.
- The sooner a hold is filled, the less likely it will be suspended: Median wait time for title availability: 12 days when not suspended and 17 days when suspended.
Speaking about the research, Susan Gross (lead researcher of OverDrive) said, “OverDrive data scientists are evaluating the performance of digital library collections to uncover best practices for lending efficiency. These include the utilization of multiple content access models and curation practices and their impact on reader engagement.”
“We want to provide reports that inform digital library budgets and community programming as well as to support literacy campaigns,” she added.
To know others details about the research, you can visit ALA Annual Booth #4025 at McCormick Place Convention Center (between June 23 to June 26). As for the whitepaper, it will be available for users by the end of the year on the OverDrive public library blog.
Navkiran Dhaliwal is a seasoned content writer with 10+ years of experience. When she's not writing, she can be found cooking up a storm or spending time with her dog, Rain.