16th Jul 2019 12:11
(Alliance News) - Publisher Pearson PLC is to end the paper publication of educational material, it said Tuesday, in a "major shift" towards digital.
Pearson said the paper publishing model is "lengthy and expensive", and the move will make it the only company moving towards exclusively digital publishing in education.
Chief Executive John Fallon said: "Students are demanding easier to access and more affordable higher education materials, with nearly 90% of learners using some kind of digital education tool.
"We've changed our business model to deliver affordable, convenient and personalized digital materials to students. Our digital first model lowers prices for students and, over time, increases our revenue. By providing better value to students, they have less reason to turn to the secondary market," he continued.
"This will create a more predictable, visible revenue stream with a better quality of earnings that enables us to serve the needs of learners and customers more effective."
Pearson said the move will reduce costs, both for the company and for students, and it added it already provides over 10 million digital courses and e-books a year.
Pearson shares were 3.1% higher on Tuesday at midday in London at 890.20 pence each.
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