1. Open access and payment models a Learned Society Publisher’s perspective http://www.lms.ac.uk

2. Outline The Budapest Open Access Initiative – what it does say (and what it doesn’t) comparing library subscription model with open access model – shifting the finances what are all the costs? the broader issues – will the funds stay in the system? Can the LMS do this and do we want to try?

3. OAI http://www.soros.org/openaccess and http://www.openarchives.org/ http://www.soros.org/openaccesshttp://www.openarchives.org/ Open access initiative = papers should be freely accessible online so anyone can read them recognises that it is not costless to produce open access journals recommends two strategies –Self archiving –New generation of open access journals not much on how costs can be met, except via the freeing up of existing funds nothing about how to retain established standards of peer review

4. Subscription management model vs open access model

5. Some of the things we do or pay others to do Administer the review process Secretarial help for the main Editors Administer the production process and employ copy-editors* Manage the finances of outsourced work Develop new and alternative publishing models Rights and permissions Typesetting, production of print and online versions Warehousing and distribution of print Hosting of online version Subscription management (both print and online) Marketing Sales

6. Side issue: Copy-editing and typesetting

7. The broader issues Who would benefit and who would lose out if we moved? Governments and private research funding bodies Authors Publishers Libraries

8. What would it do to the LMS? Total sales revenue to the Society £3.4K per article Total expenditure by the Society £1.7K per article Get rid of print version: expenditure reduces to £1.2K per article Could get rid of copy-editing, book reviews, print smaller papers

9. Should we do it? Benefit to authors = our membership Benefit to readers = our membership Should we launch a new open access journal? Should we begin by offering it as an option on our existing journals?