New Journal of Physics: a web-based and author-funded journal

The journal publishing landscape is undergoing rapid change with economic p ressures, spiralling journal prices, technological developments, and inform ation overload a familiar picture to the players involved. Traditional acad emic journals, especially those based on the subscription model, are under increasing pressure and various alternative models have been suggested. Rec ently the Institute of Physics has combined with the German Physical Societ y (Deutsche Physikalische Gesellschaft) to launch New Journal of Physics (w ww.njp.org), an innovative, on-line journal. This paper will describe why I OP and DPG were attracted to start a new, all-electronic, general physics j ournal available free to all via the internet and funded by an article char ge on authors. The main features of NJP will be outlined together with the early experiences. Key challenges for the future will be examined.