U.S. market for multimedia materials in higher education to grow 48.4% to US$1B by the end of 2011, report finds; Simba Information says multimedia segment is where publishers can expect to compete with used, rental textbook sellers
November 16, 2011
– Higher education market forces and college publishers are reshaping the instructional materials world through offerings of digital content, tools and services that can stand alone or enhance the value of a textbook. In its latest report, publishing and media forecast firm Simba Information finds the U.S. market for multimedia materials in higher education will grow 48.4%, topping $1 billion by the end of 2011.
Multimedia materials include a range of content, tools and services from homework assignments and assessments to downloadable lectures, website access for students, e-textbooks and teaching aids for instructors. According to the report, multimedia sales not only help drive new textbook sales, they are also carving out their own segment in the college market.
"Publishers are seeing increased competition from used and rental book sales, which have a better price point from the students' perspective," said Kathy Mickey, senior Simba Information analyst and author of the report. "Although textbooks remain the largest revenue stream for publishers, the multimedia materials segment is where they can expect to compete against the used and rental textbook sellers."
Among publishers, Cengage Learning's curriculum solutions Aplia (homework assistance) and SAM (skills-assessment assistance) experienced more than 20% growth in a 12-month period. Pearson's MyLabs series is a well established must-have on college campuses, and John Wiley & Sons is preparing to launch a more interactive version of its learning platform WileyPLUS.
"Publishers are seeing double-digit growth across the board with multimedia materials," added Mickey. "Pearson so far has reported the highest percentage of revenue from products tied to digital solutions and services, nearing half of their global education revenue."
The report, College Publishing Market Forecast 2011-2012, provides data for the higher education publishing market, dividing segments by new and used textbooks and multimedia materials. It defines the revenue of leading publishers, explores current market trends and provides in-depth market data and analysis for e-textbooks. It also provides data on student funding and enrollment and forecasts all data through 2014.
About Simba Information: Simba Information is widely recognized as the authority for market intelligence in the media and publishing industries. Its extensive information network delivers top quality, independent perspectives on the people, events and alliances shaping the industry. Our monthly newsletter, Educational Marketer provides continuous updates on the educational publishing industry and the firm routinely assists clients and the press with publishing and media industry analysis. Follow us on Twitter and LinkedIn.