A new agenda for university rankings: a critical examination of rankers and their pursuit of new markets and audiences

International university rankings have become a significant driver of higher education governance and strategy, with some evolving into successful business organisations. Their business models are shaped by the type of organisation producing them, the methodologies employed, and the stakeholders they serve. Rankings fulfil multiple purposes: comparing institutions, guiding students, and influencing funding decisions. Criticised for indicator selection and weighting—often favouring research-intensive institutions—rankers must maintain legitimacy and respond to criticism, as acceptance among universities, students, and policy-makers underpins their business viability. Expanding their scope, rankers integrate new metrics such as knowledge transfer, community engagement, and performance on the United Nations Sustainable Development Goals, offering a more holistic view of institutions while broadening their relevance to customers. This chapter proposes a research agenda on the business of university rankings, critically examining their relationships with audiences and examining whether they can sustainably maintain their role as information brokers.