LONDON (Reuters) – Pearson, the world’s biggest education company, will release all its titles for the United States college market in digital form first, in a break from the traditional and more expensive textbook publishing model.
The British provider of textbooks, courseware and testing has been hit in recent years by changes in the U.S. market as students sought to save money by buying second-hand books, hammering its sales and profit.
Tipping - Point - Year - Offering - E-books
However it hailed a tipping point earlier this year when it said its offering of cheaper e-books, designed to appeal to the “Spotify generation”, had enabled it to forecast sales growth in 2020 following more than five years of declines.
“I am increasingly confident and excited about this,” Pearson Chief Executive John Fallon told Reuters.
Switch - Changes - Music - Film - Newspaper
The rapid switch to digital, which is similar to the changes endured by the music, film and newspaper industries, has forced the 175-year-old firm to cut thousands of jobs and sell assets to rebuild.
From now on, all future releases of its 1,500...
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