http://aaupblog.aaupnet.org/?p=205
As a case study of how this model plays out, Voigt presented on the Journal of Archaeology in the Low Countries (JALC). The journal came about when two archaeological institutions approached AUP and asked the press to calculate the costs of an open access journal covering archaeology in Holland and Belgium. After calculating costs, the press collaborated with the original two institutions to find an additional seven partners with interest in the field.
The [Amsterdam University] press has developed a precise calculation of the required yearly costs for the operation of an open access journal. In the case of JALC, assuming a publishing frequency of one article per month, a part-time journal editor, IT development, and overhead, costs total €18,000. This cost is split evenly between the nine partners, leaving each responsible for €2,000 per year in addition to “their investment in time for acquisition, peer reviewing & editorial board.” This formula has been particularly successful for AUP because there is no risk involved – all costs have been anticipated and paid for by the funding partners. In fact, this model has also allowed the press to make a small profit, through subscription-based print-on-demand articles. Print subscriptions are available for € 99,95 a year, for which the subscriber receives two issues, each containing the previous six articles. Voigt reported that as of June, they had a steady 45 subscriptions, surely not a huge number, but an admirable bonus for an already self-sustaining project.