 This is Maureen Walsh, Scholarly Sharing Strategist for the Ohio State University Libraries, and I will be giving a short update on transforming scholarly publishing at the Ohio State University. The Ohio State University Libraries is now two years into our new strategic directions. Our collective purpose, aligned with the teaching, research, and engagement priorities set out in the university's strategic plan. According to the university's strategic intent, we are committed to the academic success of our students, to advancing the teaching, research, and creative pursuits of our faculty, and to modeling operational excellence to increase our infectness and impact. The Ohio State University Libraries promotes innovative research and creative expression, and curates and preserves information essential for scholarship and learning. Making the research and scholarship of Ohio State's faculty, staff, and students openly available allows us to live our land grant mission, sharing knowledge and culture with the people of Ohio, the nation, and the world. The current scholarly publishing model creates barriers for researchers and has become unsustainable. In alignment with the university's promise of operational excellence and research stewardship, we are exploring partnerships to transform that model while also ensuring researchers have access to the tools crucial for their work. This short update focuses on one of our current strategic initiatives under the new strategic directions, transforming the scholarly publishing economy. After close to two decades of grassroots operational and tactical work that has made incremental advances and open access publishing, at this moment in time, we have a real opportunity to see several converging and significant opportunities to affect transformative change in the economics of scholarly publishing. As Ohio State's major consortial partners explore what these arrangements may look like at scale, we are beginning to pilot agreements with publishers where we can to best understand their impact on our researchers and resources. We have created a plan and set of priorities to inform and motivate decision making around directing funds away from paid wall subscription models and toward open access publishing. These principles and roadmaps inform our collection strategy and we are applying our equity values, which is that we advance diversity, inclusivity, access and social justice to scholarly journal collection building. Our goals include educating informing and building partnerships with key leaders and stakeholders on campus to support actions that transform publishing economics, including avenues of open access to advance Ohio State research and developing analytics capabilities to inform negotiations and monitor impacts of new arrangements. Key strategic drivers for advancing new models of scholarly publishing are campus engagement and partnership building. The libraries is working with our key stakeholders to advance innovative research and creative expression by fostering preserving and openly sharing research and scholarship. We are exploring partnerships to transform scholarly publishing models and we are advocating for change by actively pursuing transformative deals in this space. Our institutional repository, the Knowledge Bank, is now 18 years young. Our library's publishing program grew out of the repository program and we are now in our 13th year of publishing open access journals and proceedings with no article processing charges and with authors retaining copyright. Our publishing program is an opportunity for us to engage and consult with Ohio State editors and authors around the changing landscape of scholarly publishing and new and emerging scholarly publishing models. The tone toward an open monograph ecosystem advances the wide dissemination of scholarship by humanities and humanistic social sciences faculty members through open access editions of peer reviewed and professionally edited monographs. Scholars face growing difficulty in finding publishers for their monographs as academic library budget shrink and demand for monographs falls. To collaborate collaboratively address this problem, the Association of American Universities Association of Research Libraries and Association of University Presses launched this initiative in the spring of 2017. We are one of 17 participating funding institutions. In our first two years of the initiative, we have funded six monographs. Three have been published, one is forthcoming soon, and we have two with expected publication dates in spring of 2021. The TOME initiative is not just about funding or subvening three monographs a year for five years. The aspirational goal is to flip an economic model. We want to reinvent the system, not simply increase the subsidies to publishers in the current system. To find a way to redirect the money that we and other libraries pay to purchase monographs, and instead spend this directly uncovering the first copy costs. In return for this guaranteed subsidy for new titles, the publisher would be required to make their publications free to read online. In five years will we have effective change in the funding model for scholarly monograph publishing in the humanities? Will it have an impact for other scholarly publishing? The realistic goal is to make more Ohio State scholarship broadly available and to work with our peers to strengthen support for humanities scholarship, to increase its presence on the web, and open up knowledge to more readers. It is to advance engagement with our faculty and our campus around open access, authors rights, licensing work for reuse, and supporting digital scholarship. A very valuable part of the process is the face-to-face with faculty authors and conversations with campus stakeholders and university presses to deepen our understanding of their perspective and an opportunity to continually refresh our own. We were fortunate to be able to appoint a faculty fellow to work with us on our Transforming the Scholarly Publishing Economy Initiative. Brian Carstens joined us in the libraries as a faculty fellow in January. He is a professor in the Department of Evolution, Ecology, and Organismal Biology, and the editor in chief, a systematic biology, a journal of the Society of Systematic Biologists. Brian reports to the Associate Dean for Content and Access and works closely with the scholarly sharing program area and collection strategy to accelerate the library's strategic work to transform the scholarly publishing economy. With our new faculty fellow, we are gearing up for different engagement to educate campus and push for change. This fellowship has a particular focus on engaging with scholarly societies and society members and editors on campus. University libraries receive central funding from the university to purchase and or license a wide range of content in many formats and languages across every academic discipline to support the research and teaching needs of the Ohio State community. Of that funding, about 80% goes to continuing resources, mainly journals and databases that, until COVID at least, increase in cost each year. Our investments with our two main consortia, OhioLink and the Big Ten Academic Alliance, comprise about half of our overall funds committed to continuing resources. Through scale, the agreements we receive for major scientific content lock in lower than market rate annual cost increases and are often for access to all or nearly all of the content available from the publisher. Most of these events investments are with OhioLink, which have been an exemplar consortium in generating cost savings for statewide access to an ownership of digital journal content. While we have fewer overall investments with the Big Ten Academic Alliance, the content deals we receive through this consortia of our research institution peers is for content that we need to provide for our broad and deep research community. Outside of our consortial deals, which include Elsevier, Wiley, Springer and others, we have the opportunity to target our direct subscriptions for potential Ohio State transformative deals. I was hoping I could include the announcement here, but look for it in the near future. Although we are all currently teleworking, we are excited to continue moving our transforming the scholarly publishing economy initiative forward. Our focus this fall will be campus faculty engagement, especially with faculty engaging with scholarly societies. Outreach and education, continued work with our campus and consortial partners around new models of scholarly publishing and ramping up our scholarly publishing analytics. I would like to acknowledge and thank my colleagues on this initiative, especially my initiative co-lead Gene Springs, our collection strategist. Our transforming the scholarly publishing economy team members are Damon Jaggers, Carla Streep, Gene Springs, myself and Brian Carstens. Thank you and stay safe.