McGraw Hill Reports Continued Strong Growth in Its Affordable Digital Offerings in Fiscal Q1 2021
Published August 28, 2020
Billings from the company’s expanding Inclusive Access program in higher education grew by 43% vs. the same period last year, now reaching more than 1,100 college campuses
NEW YORK (August 28, 2020) – McGraw Hill reported a double-digit increase in higher education digital billings and a 43% increase in Inclusive Access billings in its fiscal Q1 2021 results, released today. Inclusive Access, which delivers course materials to students by the first day of class at discounted rates of up to 70% off the retail cost of print textbooks, is a key component of McGraw Hill’s Affordability and Outcomes program. That program, which includes a number of low-cost print and digital format options, has saved students an estimated $250 million since the beginning of 2018. Adoption and usage of courseware solutions, including McGraw Hill Connect and ALEKS, is expected to continue to increase through the start of the fall semester.
Additional results reported today include:
- In fiscal Q1, 52% of the company’s total billings came from digital product sales, compared to 44% in the same period last year.
- College instructor adoption of Inclusive Access is increasing, with the number of professors per campus choosing to use Inclusive Access with McGraw Hill growing, on average, nearly 10-fold from the first year of implementation through the end of year three.
- Overall, digital product billings for higher education in fiscal Q1 were up 12% compared to the same period last year.
- More than 1,100 college campuses across the U.S. participate in Inclusive Access with McGraw Hill to save students money.
“The first half of 2020 posed unprecedented instructional and learning challenges to schools and colleges as millions of learners and educators had to quickly switch from in-person to online learning situations,” said Simon Allen, CEO of McGraw Hill. “By quickly shifting our customers to our learning science-backed digital solutions, we are helping to equip students and teachers with the quality content, tools and resources they need to achieve better learning outcomes in an efficient and affordable way.”
As the demand for online learning tools grows amid the learning challenges presented by the COVID-19 pandemic, McGraw Hill has expanded its leadership in the education sector by continuing to invest in its content and digital platforms and by deepening its commitment to supporting instructors and students at every step. So far in 2020, the company has announced the launch of a cutting-edge new writing assignment technology and a Virtual Labs product for its higher ed digital platform McGraw Hill Connect, as well as a partnership with Proctorio to bring remote proctoring and browser locking capabilities to its courseware. To help ensure colleges are using effective practices to design their online courses, McGraw Hill has partnered with the Online Learning Consortium to train the company’s digital faculty consultants and implementation experts so they can support instructors on campuses.
Use of McGraw Hill Connect and ALEKS has continued to increase, with a combined 5.2 million users of ALEKS in K-12 and higher ed and 4.3 million activations of Connect course materials in college in fiscal year 2020. McGraw Hill has also introduced two-month free-trial access to its direct-to-consumer ALEKS MathReady program to allow current and rising college students the opportunity to refresh their math skills affordably ahead of the fall semester. Finally, McGraw Hill recently launched Rise, a new K-12 curriculum solution created to help educators identify and address students’ individual learning gaps, including those caused by COVID-19 disruption.
About McGraw Hill
McGraw Hill is a learning science company that delivers personalized learning experiences that drive results for students, parents, educators and professionals. We focus on educational equity, affordability and learning success to help learners build better lives. Headquartered in New York City, McGraw Hill has offices across North America, Asia, Australia, Europe, the Middle East and South America, and makes its learning solutions for PreK-12, higher education, professionals and others available in more than 75 languages. Visit us at mheducation.com or find us on Facebook, Instagram, Twitter, or LinkedIn.