You may be interested in this article: "The Money Behind Academic Publishing" https://tidsskriftet.no/en/2020/08/kronikk/money-behind-academic-publishing https

You may be interested in this article: "The Money Behind Academic Publishing" https://tidsskriftet.no/en/2020/08/kronikk/money-behind-academic-publishing https://tidsskriftet.no/en/2020/08/kronikk/money-behind-acad... The margin on these businesses is substantial. (e.g. This article says 40%)