Reinvesting to Advance Science
The 2013 financial year was marked by record revenues and the fourth consecutive year of sustainability for PLOS. Gross revenue and support grew 31% to $50.8 million (2012: $38.8 million), of which the increase in net assets was $9.87 million (2012: $7.15 million). Expenses grew by 35% to $37 million (2012: $27.4 million), driven by investments in two key areas:
- Building a sustainable organization and scalable infrastructure to support the growth in publishing operations
- Laying a foundation to support the pursuit of the PLOS vision to provide rapid and effective communication and assessment of scientific ideas, results and discoveries for the public good
PLOS grew from 176 employees to over 200 during the year, with corresponding expansion of office footprints in both the US and the UK. PLOS particularly makes significant investments in human resources for platform development.
PLOS enters its second decade as a leading publisher in a robust Open Access environment. PLOS published over 34,000 research articles in 2013, an increase of 33% over 2012, bringing the total number of Open Access articles published by PLOS to more than 100,000.
PLOS continues to support those who are unable to pay all or part of their publication fees, with assistance in 2013 totaling $3.4 million to authors (2012: $3.8 million) and $500,000 to institutions (the same in 2012), for a total of $3.9 million in publication fee assistance. The PLOS Global Participation Initiative assistance to authors who are funded by low- and middle-income countries is included in the publication fee assistance amounts reported. PLOS also expanded its institutional program through which PLOS administers payment of full or partial fees for authors at participating institutions.
Audited Financial Statements