A university press is an academic publishing house specializing in monographs and scholarly journals. Most are nonprofit organizations and an integral component of a large research university. They publish work that has been reviewed by scholars in the field. They produce mainly academic works but also often have trade books for a lay audience. These trade books also get peer reviewed. Because scholarly books are mostly unprofitable, university presses may also publish textbooks and reference works, which tend to have larger audiences and sell more copies. Most university presses operate at a loss and are subsidized by their owners; others are required to break even. Demand has fallen as library budgets are cut and the online sales of used books undercut the new book market. Many presses are experimenting with electronic publishing.