CALLING IT A “generational business shift,” textbook publishing giant Pearson announced Tuesday that all future updates to its 1,500 U.S. titles will occur digitally, a move company officials say will push the academic publishing industry into the 21st century and save students money by ending lengthy and expensive print revisions.
“The history of this business is as a college textbook publisher, and really over the last 20 years, like many of the other industries like newspapers and music publishing, we’ve seen a gradual shift from digital where over time digital time has become a more important part of the offering,” John Fallon, CEO of Pearson, says. “We’ve really reached a tipping point.”
London-based Pearson, the $8.5 billion company, is the largest provider of college textbooks in the U.S. It now has more than 10 million digital registrations each year coming from the company’s current offering of about 1,500 titles that cover all major course offerings at colleges and universities.