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OCLC Annual Report 2023–2024 :  Connecting libraries, inspiring communities

FY24 was a year of bold action and major accomplishment for libraries and OCLC—the result of our collective efforts, our commitment to excellence, and our relentless drive to create our shared future.

Investing

We invested in expanding our linked data ecosystem, deepening our connection with public libraries, innovating our resource sharing services, and exploring new areas of librarianship.

Growing

We grew WorldCat®, our WMS community, our discovery service, and our efforts to manage the collective collection.

Engaging

We engaged the community at conferences and in-person meetings, with surveys, and with a new Community Center and a new governance structure.

President’s Welcome

To the OCLC Community,

Reflecting on the past year, one phrase stands out: transformative innovation. Artificial intelligence is driving innovation at a pace that recalls the early days of the internet, reshaping our world in powerful ways. AI holds the potential to make information even more relevant and accessible than ever before. Just as the internet redefined access to knowledge, AI brings new capabilities that can reshape entire professions, networks, and institutions.

At OCLC, we are innovating from top to bottom, reimagining everything in light of AI and advancing technology. Every product, every process, is being evaluated with a fresh perspective as we continue to push the boundaries of what seemed impossible just a year ago. This commitment to innovation is rooted in a long-standing spirit of collaboration with libraries and institutions—a partnership that spans decades. Together, we’re part of a diverse, global community dedicated to expanding access to information, adapting to new access points, and achieving shared success through collective growth. In that spirit, I am proud to offer a few highlights of our year.

At OCLC, we are innovating from top to bottom, reimagining everything in light of AI and advancing technology. Every product, every process, is being evaluated with a fresh perspective as we continue to push the boundaries of what seemed impossible just a year ago.

This year, we advanced our linked data ecosystem, positioning libraries to bridge traditional cataloging methods with modern metadata management. We added more than 400 million linked data entities to WorldCat bibliographic records at no additional charge to libraries, further enhancing the discoverability of their collections. We also introduced OCLC Meridian, a powerful tool that empowers library staff to create their own linked data authorities, giving them greater control over their data management. WorldShare Record Manager was upgraded to enable library staff to add linked data entities to their own bibliographic records, seamlessly integrating linked data into their workflows.

Another key milestone this year has been the continued growth of our WorldShare Management Services (WMS) platform, which now supports more than 850 libraries and groups around the world. Notable institutions such as Heidelberg University Library, WISPALS Library Consortium in Wisconsin, and the Fundación Universitaria San Pablo CEU have joined the WMS community, further validating its global impact in streamlining library operations, reducing complexity, and improving user experiences.

OCLC has partnered with the Big Ten Academic Alliance (BTAA) to enhance its UBorrow service, which provides access to more than 90 million books from the collections of 15 universities and the Center for Research Libraries. BTAA is now using OCLC's new Resource Sharing for Groups platform, a solution designed specifically to improve resource sharing for library groups and consortia.

We have also strengthened our international presence through strategic partnerships. For example, OCLC and LIBER launched a multi-year engagement program designed to build capacity in research libraries. This program explores forward-looking topics such as AI, data management, and machine learning, ensuring that libraries remain at the forefront of technological innovation.

Innovative technologies and AI integration

This year, we focused heavily on integrating new technologies that enhance the value we provide to libraries and their users. A significant advancement has been the introduction of AI-generated book recommendations in WorldCat.org, which gives libraries more personalized and relevant suggestions for their users. This initiative underscores our commitment to leveraging AI to enrich the library experience while maintaining the integrity and breadth of library collections.

We incorporated AI into our resource sharing network, significantly reducing turnaround times. In the past year, just one of these advancements has saved library users an estimated 410,000 hours of wait time and freed library staff from 13,600 hours of processing time, allowing them to focus on higher-value services for their communities.

We are also using AI behind the scenes. Innovative solutions are helping protect and manage services and shared infrastructure including WorldCat. Thanks to our ongoing investments in security and compliance, libraries can continue to confidently rely on OCLC systems.

While technology and AI drive much of our progress, our values remain steady, guiding us in how we use innovation to enhance our mission. This year, we acquired cloudLibrary to expand our ability to offer digital content to more communities, reinforcing the core values of sharing and collaboration that define us.

Our focus on diversity, equity, and sustainability is woven into every initiative. For academic libraries, our Choreo Insights platform provides libraries and universities with the tools to build thoughtful, complementary DEI collections. And, by integrating Comics Plus into cloudLibrary, we've enriched digital collections with diverse comics, manga, and picture books, ensuring that public libraries can offer content that represents a broad range of voices.

Our ongoing commitment to sustainability is reflected in our collaborations and resources like How Public Libraries Build Sustainable Communities in the 21st Century, underscoring our dedication to supporting resilient communities, and driving social and environmental change.

Modernizing governance

OCLC’s Board of Trustees and Global Council approved and ratified a new governance structure that modernizes and strengthens our working relationship in this period of rapid innovation. I particularly want to thank the planning team, including OCLC Trustee Pilar Martinez and Council Delegate Michael Levine-Clark for their leadership in helping OCLC evolve its governance.

Governance is just one of the many ways member libraries engage with OCLC. Last year, we launched a more dynamic Community Center, offering enhanced opportunities for libraries to share insights and shape our collective future. After the long pause brought by the pandemic, we were especially pleased to reconnect with friends and colleagues face-to-face at dozens of conferences and meetings. These in-person interactions deepen our relationships and understanding in ways that technology alone cannot, strengthening collaboration and our shared vision. We are proud of the trust our members place in us and remain committed to supporting their evolving needs.

Recognitions and achievements

This year, OCLC was named the number one midsize “Best Place to Work in IT” by Computerworld and number one in diversity strategies and benefits. This is a testament to our inclusive culture, innovative spirit, and dedication of our employees. As we look forward, I am excited about the possibilities ahead. We will continue to explore how AI and data-driven tools can support libraries, foster greater collaboration among institutions, and expand access to knowledge for all.

I am filled with gratitude and pride in the accomplishments that we have achieved together. From expanding our global partnerships to implementing cutting-edge technologies, this year has been one of transformation and growth. Our shared mission to connect the world's libraries through collaboration, innovation, and knowledge sharing has never been more important. Thank you to all of our members, customers, partners, and staff for your unwavering commitment to OCLC’s mission.

Signature: Skip Prichard

Skip Prichard
OCLC President and Chief Executive Officer

Year in Review :  Investing to move libraries forward

Preparing for a linked data future

We advanced our linked data work to transform metadata management and put library resources in the knowledge streams that inform our everyday lives.

We added more than 400 million WorldCat Entities uniform resource identifiers (URIs) to WorldCat bibliographic records to integrate linked data into cataloging workflows and services already used by libraries.

We enhanced WorldShare® Record Manager, giving users the ability to search WorldCat Entities from within the application and subsequently add URIs to MARC records. This established a bridge between MARC data that libraries have used for decades and linked data that integrates across local systems and workflows and beyond.

We launched OCLC Meridian®, a WorldCat Entities linked data management tool, and a suite of APIs that enable entities creation when and where needed.

As part of our linked data strategy, we unlocked the power of the Dewey Decimal Classification® (DDC®) system by creating URIs for Dewey® numbers. This Dewey linked data provides subject classifications to Works entities in WorldCat Entities, creating a layer of new relationships for knowledge graphs that power discovery.

We released a position paper that articulates the value that linked data brings to libraries and information seekers alike. “Linked data: The future of library cataloging” adds context to discussion about linked data along with a blueprint to gradually build a new way to catalog library resources. It also explains the tools already available to help ease libraries into a more interconnected library catalog. This publication was our most downloaded paper of the year.

“This piece by @OCLC does a phenomenal job of outlining the benefits of linked data concisely and is very much worth the read.”

Michael Ragucci
John Wiley & Sons

Speed the digital transition for public libraries

We acquired cloudLibrary™, a platform that offers access to a wide variety of digital content through libraries. The acquisition supports public libraries in their efforts to successfully manage accelerated shifts to and the increasing demand for digital collections. We are in a unique position to provide cloudLibrary with a world-class technology infrastructure and a network of public libraries that serves well over 300 million people worldwide.

We conducted an innovative public library research study to identify similarities and differences between generations on the role of public libraries and the services that they provide to their communities. How do Boomers and Gen Z think differently about library services? What are barriers that might keep some Millennials away from the library? OCLC presented findings at two major US conferences and will publish a report in December 2024. Libraries can stay up to date on this research, informing strategic planning and programming that will align with local community needs and desires.

We continue to add new features to Wise®, including single identity management capabilities for Dutch libraries. We also continue to expand features for all Wise libraries in our fully web-based Wise Console. This includes new events management tools as well as enhanced capabilities in areas as diverse as holds management and improved support for local devices.

Reimagine resource sharing

Partnering with the Big Ten Academic Alliance, we developed a new state-of-the-art solution that reimagines resource sharing for library groups. All BTAA libraries are live on the new system, and we continue to work with BTAA to further develop this new consortia borrowing solution that expedites delivery of digital and print items to library users.

With OCLC Resource Sharing for Groups, participating libraries have all the tools needed to easily lend and borrow resources from group members. If a request can‘t be filled within the group, it seamlessly scales out to regional partners and to OCLC‘s global resource sharing network without any staff intervention. The solution also builds on smart fulfillment functionality for fast, predictable delivery based on local policies, group profiles, available resources, library relationships, and user needs—with first supplier fill rates at 90–95%.

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“We are pleased with the successful migration to this new platform for UBorrow—not only for the parity and increased robustness it brings our communities of users today, but for the expanded options and possibilities we envision as we continue our pathway to uniting our separate collections into one, fully shared and fully networked.”

Maurice York
BTAA Director of Library Initiatives

Synthesize emerging insights to drive our future

As library staff and leaders navigate unknown, fast-paced change, OCLC Research is synthesizing emerging insights to produce research, resources, tools, and infrastructure to support libraries. In FY24, we published the following reports:

Building Research Data Management Capacity: Case Studies in Strategic Library Collaboration provides recommendations based on case studies that libraries can apply to make their own collaborations successful and sustainable. The report shares experiences and insights from the Texas Data Repository, Portage Network, and Data Curation Network to illuminate the challenges, opportunities, and considerations of building research data management (RDM) service capacity through collaboration. RDM is an increasingly vital strategic interest for academic libraries, and many collaborate with other libraries to scale resources and meet institutional RDM needs.

Redefining the library experience: Findings from the 2023 OCLC Global Council Survey, conducted jointly by OCLC Global Council, OCLC Research, and the OCLC Market Research team, explored themes such as community engagement, collaboration, and innovative programs that meet library users’ evolving needs and expectations. The results provide insight into ways that library leaders and workers expect changing library experiences to create more meaningful engagement and positive impacts.

Year in Review :  Growing to help libraries thrive

Expand the most comprehensive network of data about library collections

WorldCat makes library collections findable and accessible. It allows libraries to dramatically reduce time spent on cataloging and collection development by uniquely enabling libraries to share metadata contributions from libraries, publishers, and OCLC. And it’s a global leader in electronic as well as print metadata, capable of supporting 6,500 languages in 135 scripts.

Logo: WorldCat

WorldCat activity in FY24:

Illustration: WorldCat searches

33.6 billion searches performed

Illustration: WorldCat records created

52.2 million new records created

Illustration: WorldCat records exported

15.9 million records exported

We continued to improve record quality

Together, we improved the quality of 22% of all WorldCat bibliographic records this year. OCLC staff worked on 121 million records while the library community improved an additional 2.3 million records. Improved quality means improved discoverability and access to information. And WorldCat’s unique participatory model allows this to happen at a scale that no individual institution can achieve alone.

Our e-resource content grew to 150 million digital items

These efforts improve discovery of and provide one-click access to these valuable resources for your library users. In FY24, our WorldCat services contained 120 million open access items and had 4 billion records that contain article metadata with links to full text. E-resources increased 3%. These included a total of:

  • 66 million ebooks
  • 84 million digital content items (e-journals, e-maps, e-scores, e-videos, streaming music, and audiobooks)

Illustration: Woman reading e-book

The WorldCat knowledge base expanded to streamline workflows

At the end of the fiscal year, this foundation for managing e-resources included 29,073 collections from 677 providers comprising 81.7 million records, a 14% growth in collections and in records from last year. Libraries meet the challenges of hybrid, remote, and on-site user needs by using our knowledge base for fast access, continual expansion of available e-resources and content providers, and fostering innovative approaches to collection management.

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We signed a Partner Platform Agreement with Equinox for the integration of our metadata API. Equinox is the first partner to sign the agreement. The metadata API allows our mutual customers who catalog with OCLC to access WorldCat and both download records and upload updates and holdings information from within their third-party service. This access will benefit libraries by providing a streamlined work environment and will benefit OCLC by keeping WorldCat up to date with our members’ information.

Grow the world’s most efficient cloud-based library services platform

We implemented many important enhancements in WorldShare Management Services (WMS)—most based on community feedback. The more noteworthy enhancements include: a new, modernized user interface with increased usability and accessibility for circulation staff; support for ad-hoc emails from library staff to individual patrons; expanded support for licensing e-resources at the title level; and new APIs for creating purchase requests that synchronize with other systems.

Logo: WorldShare Management Services

More than 850 libraries in 26 countries have now selected WMS, up 13% from last year. New subscribers to WMS include:

The Americas
Bard College
Bennington College
The British Columbia Institute of Technology
The Canadian Nuclear Laboratories
Concordia University of Edmonton
Fermilab
LIBROS consortium
Morehouse School of Medicine
New York Institute of Technology
Norfolk State University
Northern Lakes College
Reinhardt University
University of Tulsa
WISPALS Library Consortium

Europe and the Middle East
Fachochschule Gesundheitsberufe OÖ Gmbh
Fundación Universitaria San Pablo CEU
Haigazian University
Heidelberg University
Helmholtz-Zentrum Dresden-Rossendorf
Royal College of Nursing
University of Balamand

Asia Pacific region
Academia Sinica
Auckland Institute of Studies
Canberra Institute of Technology

“In our search for a successor system, we looked closely at the requirements of our library in order to be able to offer even more efficient and user-friendly services. It was important for us to select an economical system that also covers all our requirements in the best possible way. And we are confident that we will achieve this with WMS.”

Dr. Jochen Apel
Director of Heidelberg University Library

Accelerate access to library collections

Searches increased 14% in WorldCat Discovery, which helps people find and get resources in their library and libraries worldwide through a single search of WorldCat and more than 3,300 authoritative e-content collections. It enables users to identify and obtain resources in a wide variety of formats and collections through searches that deliver results without bias toward any content providers. Customization through configuration gives users an experience that meets local needs, and ongoing enhancements keep pace with the changing needs of libraries and their users.

Throughout the year, we enhanced WorldCat Discovery:

  • Integration with citationstyles.org ensures users have access to the most recent editions for all supported citation styles.
  • De-emphasized book reviews in search results to help users find primary works more easily.
  • A Print Journal/Print Magazine filter helps users focus searches on their preferred format without reviewing results for both electronic and physical journals.
  • Use of DOIs in full-text article records delivers more accurate links to licensed content.
  • The addition of the IEEE Open Access database to the Open Access filter expands access to open content.
  • Enhanced searching and sorting in the Modern Standard Arabic language delivers an experience native speakers expect.

We added 46 new content collections from 11 content providers, including five new providers, to the WorldCat Discovery central index to ensure discovery of their content. At the end of FY24, OCLC had agreements with 422 publishers and information providers to include metadata for 3,156 collections of books, e-books, journals, databases, and other materials from these global publishers to the central index, representing more than 4.9 billion records.

To increase access to Arabic library collections, we launched a new Arabic Discovery Catalog. The new catalog brings together bibliographic records from libraries located in Arabic countries into one catalog. It includes records of more than 4.2 million Arabic resources and continues to grow, making it one of the most comprehensive resources of Arabic culture. OCLC staff indexed records in Arabic and took steps to ensure that sorting and searching of results are accurately displayed to deliver an intuitive and seamless experience using Arabic script. This work mirrors a similar regional catalog developed for Spain released in 2021 as well as topic discovery catalogs such as the Art Discovery Group Catalog.

Drive searchers from the web to the library

We enhanced WorldCat.org with new tools to help libraries boost web visibility and showcase their collections:

  • Library information pages now feature lists created by library staff. When library staff create lists on WorldCat.org using a library-affiliated WorldCat.org account, their lists now display on the library’s information page to everyone who visits WorldCat.org.
  • Users can now download and share list-specific QR codes to point people to their libraries’ featured lists. The button to download the QR code is located next to the “Share” button at the top of each list page.

Working with Google, we expanded the number of libraries and material formats included in our program that links people directly to records in library catalogs from Google Search results:

  • Approximately 1,000 US libraries are now included in the direct links program.
  • We added ebook links to the previously available print book links for US libraries.
  • We’ve sent more than 1.3 million clicks directly to library collections from Google Search results since announcing this program with Google in April 2022.

Strengthen our steadfast commitment to help libraries manage the collective collection

We doubled the number of subscribers and expanded the capabilities of Choreo Insights®, our new library analytics solution. With a near-monthly release cadence, Choreo Insights added support for additional material types, richer subject search using FAST headings and CIP codes, a title-list upload and matching feature, and visualization exports. In addition, with a new shared print analysis feature, libraries can identify the extent to which their titles are committed for retention by other libraries and analyze the benefits of participating in a shared print program.

GreenGlass® continued to be the industry’s leading print management and deselection solution, with satisfied, repeat customers including the University of California, Berkeley, and the University of Washington. In Canada, the Federal Science Libraries added a GreenGlass for Serials subscription to their initial GreenGlass for Monographs purchase.

Growing commitment to diversity, equity, and inclusion

We continue to be fully committed in our approach to diversity, equity, and inclusion (DEI). We demonstrate that commitment both within our own communities and among companies across many industries. We’re conducting research and developing new approaches to our technologies that aim to respect the diversity in the communities our member libraries serve.

OCLC placed first for its diversity strategies programs in ComputerWorld’s Best Places to Work in IT survey among midsize global organizations. It was the second consecutive year that OCLC has been recognized as the best in its class.

Our linked data ecosystem, the WorldCat ontology, was designed to avoid harmful or discriminatory characterizations and to guide people in its appropriate use based on extensive collaboration with library community leaders.

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We made ongoing updates to the Dewey Decimal Classification (DDC), including changes like a new organization for autism spectrum disorder (as the umbrella term), gender dysphoria, and style changes for the terms Black people and White people. The DDC benefits from a ten-member editorial committee led jointly by OCLC and the American Library Association.

Year in Review :  Engaging to gather libraries’ expertise

Expand member engagement through a new governance structure

OCLC’s Global Council met on 18–20 March. The meeting included a Board of Trustees election, as well as ratification of plans to establish a new council structure.

The new OCLC Leaders Council will be phased in over the next year with a clear purpose: to provide library perspectives that inform OCLC‘s strategic goals and to elect six trustees to the Board of Trustees. It combines three Regional Councils into one group comprised of two delegations—one consisting of members from North, Central, and South America and one that unites Europe, the Middle East, Africa (EMEA), and Asia Pacific regions. It allows flexibility in its membership to range from no fewer than 20 to no more than 24 members.

Logo: OCLC Leaders Council

OCLC Global Council re-elected Anja Smit, Director of DANS in the Netherlands, and elected Xuemao Wang, Charles Deering McCormick University Librarian, Northwestern University, to the OCLC Board of Trustees in March 2024.

Ginny Steel, the Norman and Armena Powell University Librarian (retired), University of California, Los Angeles, was elected Chair, and Tim Robinson, Chief Executive Officer of Nationwide Children‘s Hospital, took his seat on the OCLC Board of Trustees during the Board’s November 2023 meeting.

2023–2024 Board of Trustees

The OCLC Board of Trustees guides the vision of OCLC, shaping its strategy and goals. The Board also fulfills the fiduciary duty of protecting OCLC‘s shared assets and investments. In addition, the Board is responsible for recruiting and working with the OCLC President and CEO, and for monitoring the organization through a dedicated audit process.

Photo: 2023–2024 OCLC Board of Trustees

Front row L–R: Janet Walls, President, Delta Blvd; Sarah E. Thomas, Vice President for the Harvard Library (retired), Harvard University; Ginny Steel, Chair, OCLC Board of Trustees and the Norman and Armena Powell University Librarian (retired), University of California, Los Angeles; Skip Prichard, President and Chief Executive Officer, OCLC; John F. Szabo, City Librarian, Los Angeles Public Library; Theresa S. Byrd, Dean of the University Library, University of San Diego; Barbara Lison, Director (retired), Bremen Public Library.

Back row L–R: Pilar Martinez, Chief Executive Officer, Edmonton Public Library; Shirley Chiu-wing Wong, University Librarian, The Hong Kong Polytechnic University; Debbie Schachter, Associate Vice President, Students, Langara College; Dwight Smith, President and CEO, Sophisticated Systems, Inc.; Bernadette Gray-Little, Vice Chair, OCLC Board of Trustees and Chancellor Emerita, University of Kansas; Brady J. Deaton, Chancellor Emeritus, University of Missouri; Anja Smit, Director of DANS, an institute of KNAW (Royal Netherlands Academy of Arts and Sciences) and NWO (Dutch Research Council); Tim Robinson, Chief Executive Officer, Nationwide Children’s Hospital.

Photo: Ginny Steel

A message from Ginny Steel, Chair, OCLC Board of Trustees
The Norman and Armena Powell University Librarian (retired), University of California, Los Angeles

It has been another year of remarkable achievement in services, programs, and research, where we advanced the library mission and positioned the community for a bright future. The work OCLC is doing is helping our community thrive in a time of tremendous technological change and other pressures on libraries. We have a lot of exciting and important work ahead of us.

Update the Community Center to better engage members

We relaunched the OCLC Community Center on a new platform to modernize the user experience and provide new features to help community members stay engaged. Many of these features originated in suggestions from the community.

During the past year, 1,800 new community members joined a vibrant community of more than 23,000 in the new space. These users have access to more than 46,000 posts across the site with improved search options, making it easier to find previously shared content.

Some features community members have been most excited about and use to stay more connected include:

  • New subscription options to receive email notifications about new events and recordings when they are posted, new ideas as they are submitted, and updates from OCLC as ideas become product features
  • Email reply-to functionality to respond to discussion posts directly from your email, making it easier to participate, and digest email notification options to allow users to customize the frequency of notifications
  • One-click registration for all Community Center events like Product Insights, Office Hours, and series like the Resource Sharing Conference, DevConnect, WMS Connect, and the Cataloging Community Meeting; plus, all events available to you can be viewed in one place

Engage thousands of library staff in educational events and training

We launched a multi-year engagement program with LIBER. The first series ran from October 2023 to June 2024, focusing on state-of-the-art library services. Included were three facilitated discussions—one on research data management, one on data-driven decision making, and the final one on AI and machine learning in libraries. A closing plenary session presented the insights from the facilitated discussions. Over the five sessions, there were 969 registrations and 266 attendees from 28 countries.

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Our WebJunction® team developed the Opioid Crisis Support Kit for Public Libraries to aid public library staff in addressing opioid use disorder. The new kit offered strategies and tools to help public libraries address the ongoing opioid crisis in their communities. In addition, we held a webinar, “Supporting healthy communities: Public library responses to the opioid crisis,” featuring two libraries that found success and purpose using the support kit. Nearly 200 library staff attended this webinar, and 510 registered to get a link to access the recording.

The WebJunction Course Catalog continued to provide excellent free continuing education opportunities for library staff to engage in professional development. Enrollment remained strong, increasing more than 10 percent from the prior year and continuing to outpace the pre-pandemic numbers. Last year, Course Catalog engagement remained steady with more than 25,500 learners taking part in WebJunction courses. The catalog includes more than 60 on-demand courses on library topics and 360 webinar recordings.

A new WebJunction course, “A Community-Centered Approach to Digital Collections,” was published in WebJunction’s Course Catalog as part of the existing Digital Collections Stewardship series. This course supports library learning in digital collections stewardship and provides learning tools and suggestions on how to build more diverse digital collections.

Additionally, new courses on responding to a crisis, de-escalating conflict, and addressing burnout were released and among the top-used courses for the year. These courses respond to training needs and increased demands identified by the field, including pressures from a fast-changing environment, potential and experienced conflict, constraints to resources, and challenges in the workplace such as burnout.

WebJunction hosted 25 live webinars, totaling 21,273 registrants—a 19% increase from last year. Some of the top viewed WebJunction webinar recordings were:

  • AI and Libraries: Enhancing Services and Engaging Communities
  • Low Morale in Libraries: Impacts and Countermeasures
  • Building Authentic Relationships with Underserved Communities
  • Book Challenges and Intellectual Freedom: Proactive Planning for Public Libraries
  • Revitalizing Morale: Creating a Supportive Library Culture
  • Leadership Strategies for Building Connection and Defusing Difficult Situations

Connect in person and online with the library community

We listen and learn from libraries every day. From attending conferences and hosting meetings, both virtual and in person, to conducting surveys and focus groups, we are working together to solve the challenges of 21st century libraries. In FY24, we connected with more than 31,000 librarians at 63 conferences and 162 virtual and in-person events around the globe. In Europe, the Middle East and Africa, and in the Asia Pacific region, we held 67 webinars in six languages during the year, with 5,246 registrations and 2,130 attendees.

The OCLC Research Library Partnership connected with more than 500 library leaders by expanding its virtual engagement strategy to include office hours, facilitated discussion sessions, webinars, and virtual workshops. These learning opportunities showcased work done by OCLC Research and by RLP partner institutions, facilitating learning opportunities for partners that directly connect research to practice related to issues and innovative work in the field important to the library community. In addition, the SHARES resource sharing consortium came together in 44 town halls, with nearly 950 people in attendance.

We connected with colleagues from around the world at the IFLA WLIC Congress in Rotterdam, the Netherlands, and we saw attendance numbers back to near pre-pandemic levels. We held three events during the conference—the Industry Symposium, which was based around data driven decision-making and attracted 63 registrations and 120 attendees; the National Librarians Luncheon where 14 librarians representing 13 countries attended; and the OCLC reception at the historic Laurenskerk where 319 people from 47 countries attended.

We participated in the Public Library Association (PLA) Conference held 3–5 April 2024, in Columbus, Ohio. We hosted a variety of programs, 17 strategic sales meetings, an exhibit booth and an OCLC update lunch. Through the programs and OCLC update lunch, we connected with more than 445 librarians.

We participated in the American Library Association (ALA) Annual Conference held 27 June–2 July 2024, in San Diego, California. We hosted a variety of programs, an exhibit booth, a breakfast for the resource sharing community, a President’s lunch and two receptions. Through all these programs, we were able to connect with more than 1,300 librarians.

We planned, produced, and hosted the 2023 edition of OCLC Contactdag. Held 3 October 2023 at a new venue, De Eenhoorn in Amersfoort, the Netherlands, the event brought together 185 attendees, including four Flemish attendees, for a day-long program on the theme of “Continuous development: innovation beyond the hype.” The post-event feedback found that 85% felt Contactdag had met their expectations and 94% would like to see a similar Contactdag in the future. This in-person event allows for timely learning opportunities and relationship-building for our staff in one-to-one and group conversations.

We hosted Bibliotheksleitungstag (BLT) 2023 in November and broke all attendance records. This is now the largest online event in German-speaking Europe, consisting of 21 presentations by 24 speakers on 12 different topic areas. There were 1,532 registrations, more than 4,800 views of the sessions, and more than 1,650 views of the teaser promotional videos in advance of the event, showing great engagement from the market. Ninety-eight percent of those surveyed said that they would attend the event again and 97% said that they really enjoyed the event.

We participated in BiblioCon 2024, Europe’s most important library conference. We hosted 15 product presentations and met with more than 300 attendees who visited our stand. At the event, we also successfully presented our new library app, YourBib, in partnership with SubKom, for use specifically with our BIBLIOTHECAnext™ library system.

Several in-person events took place in the Asia Pacific region this fiscal year, with events in Japan, Thailand, Hong Kong, and Taiwan.

  • President and CEO Skip Prichard presented at a Kinokuniya event where he spoke about the benefit of international cooperation, and representatives from Waseda University, Keio University, and IRCJS also presented.
  • In Bangkok, in conjunction with Advanced Media Supplies (AMS), our Thai distributor, we presented a seminar covering leadership strategies for success, how high-quality data leads to quality services, and how libraries can enhance their global visibility through both collaboration and information management. There were 65 registrations and 58 attendees.
  • With the launch of OCLC Meridian, we traveled to both Hong Kong and Taiwan, presenting updates and the news around linked data and AI and machine learning.

FY24 Financials

As a library services provider, OCLC is unique. We are a worldwide nonprofit organization that reinvests all our income into library research, programs, and product development. Our goal is to meet the technology needs and service requirements identified by our membership.

Ensuring the future

Revenues from library services increased $13.9 million, or 6%, to $238.5 million in FY24. This increase includes three months of cloudLibrary revenue, which was purchased in April 2024, as well as sales growth for WMS and EZproxy® and strong renewals for cataloging and resource sharing products. Net contribution was $21.9 million compared to $26.3 million in FY23 and operating results before portfolio activity ended with a loss of $(9.7) million compared to $1.4 million in FY23. This decline was due to increased costs associated with a high-inflation economic environment including wages and benefits, as well as expanding travel and conference activity.

Overall, revenue from library services and income from our investment portfolio provided a stable cash flow to fund operations, improve services, and make strategic investments during a time of economic challenge.

Summary of consolidated activities

Amount in $ millions

FY24 FY23
Operating activities Library services revenue $238.5 $224.6
Operating results before portfolio activity ($9.7) $1.4
Investing activities Investment portfolio activity
Dividends and investment income $13.7 $11.1
Net realized gains/(losses) $7.0 $2.5
Net unrealized gain/(loss) on investments $10.9 $11.3
Net contribution $21.9 $26.3

The OCLC investment portfolio

Our investment portfolio was valued at $228.9 million at the end of FY24, a decrease in value of $12.1 million. This decrease is due to the sale of investments to help fund our recent acquisitions. The portfolio generates a stable flow of dividend and interest income that is withdrawn annually to fund cash needs.

At the end of FY24, OCLC’s outstanding debt was $29.6 million compared to $42.7 million in FY23.

Investment portfolio and debt

Amount in $ millions end of fiscal year

Graph: OCLC FY24 investment portfolio and debt

Research and development

We regularly engage with our membership through Regional and Global Council meetings as well as specific product groups, advisory committees, and research projects to identify trends that are shaping the library profession. Based on these conversations, we continue to invest in a variety of specific initiatives that our members have told us are critical to their success.

FY24 research and development investments

Total $39.7 million

Pie chart: OCLC FY24 research and development expenditures

Investment categories include:

Metadata services (14%)

OCLC Cataloging and Metadata Subscription, CBS Services, CONTENTdm®, Contract Cataloging, Dewey Services, WorldCat Entities

Delivery services (14%)

Choreo Insights, FirstSearch®, GreenGlass, ILLiad®, Relais® D2D, Resource Sharing for Groups, Tipasa®, WorldCat Discovery, WorldCat.org, WorldShare Interlibrary Loan

Management services (42%)

BIBLIOTHECAplus™, Capira®, cloudLibrary, EZproxy, LBS, OCLC Meridian, OCLC Wise, SISIS‐SunRise™, WorldShare License Manager, WorldShare Management Services

Data services (5%)

BIBFRAME enhancements, WorldCat®, WorldCat® Discovery central index, WorldCat® knowledge base

WorldShare Platform (14%)

The infrastructure that supports cloud services

OCLC Research (11%)

Research initiatives

For additional information, please view the following resources:

The Audit Committee, consisting entirely of independent trustees, assists the Board of Trustees in its oversight of our financial reporting process and is responsible for, among other things, reviewing with BDO USA, P.C., independent auditors, the scope and results of its audit engagement.

Thank you for your ongoing commitment to the OCLC community. Together, we will continue to use the power of collaboration and innovation for the benefit of all libraries.