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LONDON (Reuters) -Global education group Pearson launched a new Spotify-style “all-you-can-eat” college app in the United States on Friday, the centrepiece of its new digital strategy to build direct ties with learners throughout life.
FILE PHOTO: The company logo is displayed outside the Pearson offices in London, Britain August 4, 2017. REUTERS/Neil Hall
Having been buffeted by rental markets and second-hand options for once-expensive textbooks, Pearson has embarked on a direct-to-consumer strategy offering unlimited access to content to provide more reliable subscription revenues.
Chief Executive Andy Bird, a former Disney executive who has launched the new strategy, said Pearson+ was designed to offer the same ease of use as the high-end entertainment and media apps that students are used to.
Pearson sales jump as demand for online learning soars
(Photo by Leon Neal/Getty Images)
Global education firm Pearson said strong demand for online learning courses helped the group post a five per cent rise in underlying revenue growth in the first three months of the year.
Shares in the education group rose more than 2.5 per cent on the update to 822p this morning
Delivering a quarterly trading update, Pearson said it expected to continue to deliver revenue and profit growth in 2021.
The UK company has repositioned itself as a consumer-facing group offering skills and training beyond its schools and college remit.
Demand for online learning boosts Pearson s Q1 trading
Updated / Monday, 26 Apr 2021
07:54
Pearson is repositioning itself as a consumer-facing group offering training and skills for life beyond its core schools and colleges remit
Global education group Pearson said strong demand for online learning courses had helped the group to post a 5% rise in underlying revenue growth in the first three months of the year.
The company is repositioning itself as a consumer-facing group offering training and skills for life beyond its core schools and colleges remit, said it continued to expect to deliver revenue and profit growth in 2021.
Trading was boosted by a 25% jump in demand for programmes in its Global Online Learning division, as people around the world enrolled for courses at virtual schools.
LONDON MARKET PRE-OPEN: Pearson quarterly sales up; IMI plans buyback
Mon, 26th Apr 2021 07:49
(Alliance News) - Stocks in London are set to dip on Monday, with a rise in coronavirus cases in India and a stronger pound expected to drag on the blue-chip FTSE 100.
In early UK company news, Pearson reported a good start to 2021, while IMI raised its full-year guidance and revealed plans for a GBP200 million share buyback.
Informa unveiled plans to combine its FBX business with Novantas. Tate & Lyle confirmed it is exploring the sale of a controlling stake in its Primary Products business.
IG says futures indicate the FTSE 100 index of large-cap stocks to open 8.76 points, or 0.1%, lower at 6,929.80 on Monday. The index closed just 0.32 of a point higher at 6,938.56 on Friday.