In the summer and fall of 2006, Ithaka (http://www.Ithaka.org) commissioned an outside research firm, Odyssey, to conduct surveys of the attitudes and perceptions of academic collection development librarians and faculty toward the transition to an increasingly electronic environment. These studies received 4,100 and 350 responses, respectively, and were cosponsored by JSTOR and Portico and in part by Aluka and NITLE. The studies build on similar faculty studies conducted in 2000 and 2003; by examining the librarians' perspective as well, we can gain a fairly balanced perspective of the dynamic environment. Considered together, the findings suggest the need for libraries to take leadership in helping academia's transition to the new environment.