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PLoS Journals Projected to be 100% Self-Sufficient by 2010

The Public Library of Science's open access journals just release its 2009 June Progress Report in which they project "a publishing business model projected to be 100% self-sufficient in 2010."

"PLoS journals use a business model that recovers expenses — including administration of peer review, journal production, and online hosting and archiving — by charging a publication fee to authors or research sponsors for each article that passes the peer-review process. "

"During the last three years, PLoS has seen a fivefold increase in operating revenue. As a result, the organization has dramatically increased the proportion of expenses covered by revenue. In 2007 PLoS was self-funding roughly 50% of its operating expenses. By the end of 2009, PLoS predicts that the organization’s funding model will cover approximately 90% of its operating expenses."

This is particularly encouraging news as many have questioned the business viability of the open access movement.

In essence PLoS believes in:

Unlimited access - everyone with an an interest can access the research without paying expensive subscription costs.

Accelerated progress - providing access to all research ultimately accelerates discoveries

New opportunities - open acces unlocks the potential of scientific knowledge through sharing and collaboration.

Click "source" above for the PDF of the 2009 Progress Report.

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