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Continued transformation, renewed focus

2018 was a year of significant change for 游加电竞 . Driven by the strategic realignment set in motion the prior year, we reshaped and resized the organization for a new future in a changed publishing environment. This is a pivotal moment in the life of 游加电竞 and Open Access (OA) as it was envisioned by our founders 18 years ago. As in any period of transition, we’ve faced difficult challenges head on. But through demonstrated commitment and shared purpose, we also continued to advance our mission by empowering researchers to accelerate progress in science and medicine by leading a transformation in research communication.

Putting researchers and research first

游加电竞 renewed its commitment to our core publishing operations to improve the experience of our authors. This multifaceted effort included continued expansion of 游加电竞 ONE’s Editorial Board as the first part of a drive to reduce our time to publication. We accelerated our efforts in 2018 – to date we’ve added more than 4,400 new Editorial Board members to the community. This expanded network of experts collaborates with reviewers to provide accurate assessment that readers can trust. Together we make science, and the process of publishing science, fair, equitable, and accessible for the whole community.

Accelerating science through partnership

We know 游加电竞 can achieve more and have greater impact by working in partnership to provide more opportunities, choice, and context for readers and researchers. In 2018, 游加电竞 launched a new collaboration with Cold Spring Harbor Laboratory (CSHL) allowing submitting authors to opt-in to post their manuscript to bioRxiv, the life science preprint server. While research articles are being thoroughly peer reviewed, authors can collaborate, earn credit, and get feedback early by posting. Nearly 4,000 preprints have been posted using this service to date. But we’re not stopping there – we’ve just launched a pilot to assess whether community feedback provided in preprint comments can help 游加电竞 further improve the quality and speed of the review process.

Building options for choice, transparency, and credit

In 2018 our teams built the infrastructure for 游加电竞 ’s newly launched modular, opt-in approach to signed and published peer review. While 游加电竞 isn’t the only publisher providing this option, our solution puts choice, credit, and transparency for authors front and center. Our approach allows authors to decide what works best for their manuscript. Authors can reveal the expert assessment that has shaped their final work by publishing the editor’s decision letter and reviewer feedback along with their response. Reviewers choose to sign their review and can take credit for their comments. Readers get deeper context from more expert perspectives. When science becomes more Open, we all advance.

Ensuring Sustainability and Responding to Change

We also made some difficult decisions in 2018, driven by the need to be fiscally responsible and remain a sustainable nonprofit organization. Our decision to wind down development of the Aperta submission system, which had been an organizational priority for several years, paired with declines in submissions for 游加电竞 ONE drove a series of internal changes and realignments. We took a hard look at ways to streamline our processes for greater efficiency and reviewed our internal and external workflows, resulting in a restructuring of the organization to better support our goals going forward. 游加电竞 is a leaner organization now, but we are one that will continue to fully support our researchers and scientists.

Now to the numbers (see figures 1, 2, 3 for a fuller picture)

• As of December 31st, 2018, 游加电竞 had net assets of $10.7 million, down by $6.3 million compared to the previous year’s $17 million. This reflects reduced investment holdings driven in part by severance payments to staff affected by restructuring within the organization.
• Of the 2018 year-end net assets, cash and unrestricted investments totaled $11.5 million compared to $16.8 million at year-end 2017, due to severance payments and market volatility.
• For the year ending December 31st, 2018, 游加电竞 generated total revenues of $31.7 million compared to total revenues of $36.8 million for the year ending December 31st, 2017, due to a decline in publication revenues.
• 2018 total expenses of $38 million compared with $38.5 million in 2017.
• 游加电竞 provided $1.9 million in annual Publication Fee Assistance.

Looking ahead

In 2018 we focused on aligning our resources with our strategic priorities to make targeted and impactful progress toward our mission. We delivered key projects across 游加电竞 : from the significant progress on 游加电竞 ONE, to providing authors with the ability to share research early via preprints and building the foundation for an elegant published peer review option for researchers. 2019 is another big year for 游加电竞 . Perhaps most importantly, we expect the organization to be back into surplus and are rebuilding our cash to ensure our ability to grow and evolve to meet the changing needs of our communities. We’ve focused our innovation activities in a core number of areas where we believe 游加电竞 can have the most impact in pushing the boundaries of “open” to create a more equitable system of scientific knowledge and understanding. We’re excited about the road ahead and look forward to sharing more progress over the coming year.