Nature takes a look at PLoS finances & business model
Thursday, July 3rd, 2008Yesterday, Nature published an article in which they take a look at the finances and business model of one of the major Open Access publishing houses, PLoS. The article is generating a buzz; in the blogs, mainly because of a percieved negative slant that many are chalking up to conflict of interest. Let’s use the time-honored tradition of pulling some quotes out of context to look for the bias. First, the byline:
Science-publishing firm struggles to make ends meet with open-access model
Ok, sounds negative to me…
relying on bulk, cheap publishing of lower quality papers to subsidize its handful of high-quality flagship journals.
Insult (they publish crap) followed by an inherent compliment that they have high-quality journals.
But its financial future is looking brighter thanks to a cash cow in the form of PLoS One, an online database that PLoS launched in December 2006
Use of the term “cash cow” and calling PLoS One a “database”… ok now we’re firmly in the realm of hatchet work. I’m not even going into the repeated F.U.D. stirring of the “open access means huge author fee” pot that the article does as well.
Ok, so I think I agree that the article is sort of unnecessarily rude and demeaning, but I wouldn’t really expect anything different from a for-profit publisher. The worst part is that everything Dr. Butler tries to imply is a failing of PLoS has been done many times over in the closed-access for-profit journal community.
Right, so let’s try to look past the blatant attack and take a look at the actual facts, shall we? PLoS has received about $17 million in grants, and last year had spendings of $6.7 million on revenues of $2.86 million. The high number of papers being published in PLoS One is bringing in a lot of revenue.
So, what this is saying is that PLoS has made a sound business decision to release and promote PLoS One, as it’s helping their financial situation. The implication that the articles published in PLoS One are sub-standard is fallacious, and shows a complete misunderstanding of this new method of crowd-sourced peer review. A paper is made available in PLoS One as long as the board of reviewers finds that it is methodologically sound. After it is available, anyone in the community is free to comment, rate, and discuss the paper in a public forum which is permanently attached to that paper. In other words, if I wonder what the community thinks of the paper, all I have to do is look to the sidebar. This is a vast improvement over standard papers, which I have no real indication of the community acceptance for. Perhaps this paper was published because it managed to “slip through” a sympathetic reviewer, but is widely considered flawed. You have no clear way of knowing this, especially as a young grad student. With commented, rated, and annotated PLoS One papers, however, this is clear from the moment you first read the manuscript.
I’m going on a bit of a tangent on journal quality here, so let’s get back to finances. To my eyes, the facts of the article indicate that PLoS is actually not doing too poorly financially. As PLoS One becomes even more popular and more people appreciate the freedom of publishing in the “top tier” journals as well, they should move quickly towards breaking even. And although I’m sure Nature and other profit-hungry journals might look down on this business performance, I think it will be a great day for OA and the larger availability of scientific knowledge.
EDIT: Bora has a good roundup of all of the other commentary on this (apparently quite inflammatory) article.

