Wiley was founded in 1807 and competes in three markets represented by its core divisions. The Research division produces scientific, technical, medical and scholarly journals, reference works, books, and database services such as Wiley Online Library, the company’s online publishing platform that delivers access to 4 million articles from approximately 1,600 journals and 15,000 online books. The Professional Development division publishes digital and print books and offers online assessment and training services, test prep and certification. The Education division publishes print and digital content and provides education solutions including online program management services for higher education institutions and course management tools for instructors and students.The company’s operations are primarily located in the United States, Canada, Europe, Asia, and Australia.
Analysis & Key Developments
Results for fiscal year 2015 ending April 30, 2015 were released after the deadline for this ranking. Revenues accounted for 1.88 billion USD in 2015, up from 1.78 billion USD in 2014. Growth of 4% from research journals and Education and Professional Development solutions offset the 8% decline from book publishing.
Financial
Corporate revenue for fiscal year 2014 increase by 1% to 1.78 billion USD from 1.76 billion USD in 2013. The growth mainly reflects incremental revenue from the acquisitions of Deltak and ELS, which were acquired in 2012, and Profiles, which was acquired in April 2014.
Additional growth in journal subscriptions and digital books was partially offset by a reduction in revenue from the divestment of the consumer publishing programs in fiscal year 2013 and declines in print book revenue across all core businesses.
Research revenue for fiscal 2014 increased 3% to 1.04 billion USD, against 1.01 billion USD. The growth was impacted by journal subscriptions, digital books and open access fees, partially offset by a decline in print books.
Professional Development revenue decreased 13% to 364 million USD. The decline reflects the divestment of the consumer publishing programs in fiscal 2013 and declines in print book revenue, partially offset by growth in online training and Assessment revenue and digital books.
Education revenue increased 10% to 367 million USD. Revenue growth is attributed to acquisitions and higher revenue from WileyPLUS, Binder, Custom Products and Digital Books, which was partially offset by a decline in print textbooks due to students’ preference for digital products.
Internal organization
In April 2015, Wiley announced that president and CEO Stephen M. Smith would retire for medical reasons on June 1. The board elected current executive VP and COO Mark Allin to succeed.
In April, 2014, Wiley acquired Profiles International for approximately 48 million USD. Profiles provides pre-employment assessment and selection tools. Wiley acquired CrossKnowledge for 175mUSD in May 2014. CrossKnowledge is an education solutions provider focused on leadership and managerial skills development.
In fiscal year 2013, Wiley divested several trade publishing programs such as the travel brands Frommer’s, Unofficial Guides, and WhatsonWhen as well as culinary, CliffsNotes, and Webster’s New World Dictionary with the explanation that “they no longer aligned with the Company’s long-term business strategy.” The assets were sold in a series of transactions for a total of approximately 34 million USD.
International
The company is primarily located in the United States, Canada, Europe, Asia, and Australia. Approximately 47% of Wiley’s corporate revenue was generated in non-U.S. markets.
Wiley has a long-term collaboration with China that dates back to 1979, when the publishing group became the first American publisher active in the country. Today, the company has offices in Beijing and Shanghai. The partnership extends across all divisions and includes the organization of corporate training programs, journal author workshops and licensing.
Digital
While the print business is shrinking across all divisions, sales of digital products grew. Wiley’s recent acquisitions provide “new capabilities and expertise, including new channels to market and direct end-user engagement,” according to the company’s annual report.
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