Poor Financials Pushes PLOS To Ponder Future Prospects - The Scholarly Kitchen
peter.suber's bookmarks 2019-01-04
"2017 was not a good financial year for the Public Library of Science (PLOS).
PLOS’ most recent 2017 financial overview, released on 12 December 2018, depicts an organization trying to reinvent itself, focusing less on disruption and innovation and more on efficiency and collaboration....
Revenue at PLOS was down by nearly US $2 Million in 2017, largely the result of declines in submissions to PLOS ONE, its largest journal, according to the report.
More importantly, PLOS wrote off US $11.1M in expenses in building Aperta — a manuscript submission system that the publisher ultimately decided to abandon after years of development.
Total salaries and employee compensation were also up by 2% in 2017 despite publishing 7% fewer papers...."