Person Education, the world’s largest education publisher is planning to stop printing textbooks in the coming future because of the exponentially becoming a digital world.
The publisher has taken the first step towards digitizing the knowledge and has plans to phase printing books after transforming all of its resources to digital-first. The company said the students would only be able to rent physical textbooks from now on and the physical textbooks would be updated less frequently.
The British publisher hopes that students would buy their e-books that are updated more frequently. While talking to BBC, John Fallon said, “We are now on the digital tipping point.”
He further said, that company’s half of the annual revenue comes from digital sales, so we have decided to take on digital assets just like newspapers, music, and broadcast, we will switch how we primarily create our products.
We will now stop revising printed books every three years from now on, however, the printed books would still be used for many years to come but I think the portion of learning experience from printed books would be smaller and smaller, he added.
There are many concerns lurking around digital sales, the authors fear that because of subscription-based services at Pearson, the authors would lose out similar to musicians in online music subscriptions. But Mr. Fallon said, our plans would provide authors an opportunity with more sustainable income with the time being. Pearson has been facing tough times in the past with a continuous drop in sales, however, the company seems to stand back on its feet after 2018. Pearson’s sales increase by 2% during the first quarter of 2019. The plans to phase out printed books would first start in the United States, later it would also be implemented in other regions including the UK, said, Fallon.