Textbook publishers in a bind as students go digital
Pearson, the global education publisher, announced a nearly $3.3 billion loss for 2016. It’s struggling, as many traditional publishers are, with big shifts in the way college kids buy (or don’t buy) textbooks. According to the National Association of College Stores, spending on course materials has fallen 14 percent in the last 10 years. Students are renting digital versions or buying used books. Pearson said it is investing nearly $930 million a year to make a transition to digital. But there are other challenges for publishers as well. With a strong economy and better job market, fewer people are going back to school to look for degrees … and textbooks.
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