We thought we'd extend last week's Open Access theme a bit longer to shed some light on the various open access publishing options available. Wiley Open Access team members Verity Emmans and Stefano Tonzani were co-authors on this post.
Open access is on the rise - Simba Information predicts that total revenues collected from open access journals will be $299.4 million in 2014, a 23.6% increase from 2013. Growth to $440 million is expected by 2017. This revenue stream is a bright spot against a flat market. While STM journal revenue is expected to increase at a compound annual rate of 1-2% between 2011 and 2017, open access revenue is expected to more than triple.
According to DOAJ there are now 9,993 open access journals. That's a lot of journals. Societies and editors may wonder about launching new open access journals, but is adding more journals to an overcrowded space the right thing to do? Each journal launched is a financial liability, as a new journal will incur editorial and setup costs of both time and money.
At Wiley we work closely with our society and editorial partners on developing strategies to deliver sustainable open access options that focus on meeting the needs of their members. We have devised a clear process to help our partners come to an informed decision about the best open access opportunities for them.
So what are those opportunities?
1. Drive hybrid publications
OnlineOpen is Wiley’s hybrid open access option. Authors pay an article publication charge for the final published version of their articles to be made open access. Increasing OnlineOpen articles is an efficient way to offer an open access option, help authors comply with funder mandates, and gain greater visibility and impact while publishing in their preferred journals.
2. Support an existing open access journal
As well as accepting direct submissions, a number of Wiley Open Access journals operate a Manuscript Transfer Program. These journals are supported by other journals, including society-owned titles. The supporter journals refer rejected articles and offer authors the option to submit to a Wiley Open Access journal. Referred articles publish faster because the peer reviews transfer with them; this efficiency is a huge benefit for the authors (and reviewers).
Wiley’s Clinical Case Reports journal, launched in 2013, is a successful example of this. With 35 society and journal partners, the journal has now published over 60 case studies and clinical images to date. The societies and journal partners benefit by being able to publish in an impact factor friendly way, support their subject community and retain editorial control while minimizing editorial costs.
3. Collaborate with eminent Wiley partners to launch a more prominent open access journal
Wiley has experience with successfully launching open access journals on behalf of eminent Society partners.
Physiological Reports launched in June 2013 receives both cascaded and direct submissions. It is a collaboration between The Physiological Society UK (TPS) for whom Wiley already publish their two supporter journals, and the American Physiological Society (APS) who self-publish their ten supporter journals. The volume of support really helped to launch the journal, publishing monthly since launch. The supporter journals have been a very effective filter, meaning a good acceptance rate at Physiological Reports of cascaded papers, resulting in fast publication times.
The Journal’s success has been in defining itself clearly from its competitors. Unlike other journals which can make a subjective value judgment, the Journal accepts solely on the basis of scientific rigor, adherence to technical and ethical standards, and evidence that the study is sufficiently well-conceived and the data support the conclusions. Working with the two key international societies means the Journal serves the global physiology community: by scientists, for scientists.
4. Convert (flip) an existing subscription-based journal into an open access journal
Wiley has successfully converted 8 journals from the subscription model to open access.
These journals publish high quality content and are financially successful. Typically, conversion to open access is more suitable for recently launched titles with a smaller subscription base and high quality content that authors wish to publish in.
In 2012 the Journal of Cellular and Molecular Medicine was editorially strong with a high impact factor and ISI subject ranking. There was a consistent and impressive demand to publish in the journal which had a high rejection rate, but as a young journal in the traditional subscription model, the core circulation was relatively low. An analysis of published papers revealed that many authors had funding available for open access article publication charges. Financial modelling showed that shifting to open access would make the future of the journal more sustainable.
Authors were notified, the journal was re-branded, and the transition has been very successful. Submission levels to the journal have been sustained and its long term viability and usage have increased.
5. Launch a new open access (direct submission model) journal
Launching a new, direct-submission only journal is still an option. Wiley has tools and processes for launching new open access journals. We welcome the chance to explore opportunities where a gap in the market has been identified. We guide partners through a decision process to determine the likelihood of success and sustainability. It is important to note that not all subject areas and journal structures thrive in an open access world. Our modelling effort will direct partners towards endeavors that are most likely to be successful. Through our experience, we have verified that broad scope journals are usually more successful than niche journals. Also, it is easier to launch a successful title based on a manuscript transfer/cascade model than on direct submissions alone.
If you'd like to discuss opportunities with Wiley, please use the Contact Us form on the Wiley Open Access website.