OUP Reports Growth in Annual Report
Oxford University Press has released its 2023-2024 annual report, reporting gross revenue of £833m, a 2% gain over the prior year, with a profit of £113m, a 12% increase. In its academic division, revenues from digital content and services now account for 70% of OUP's revenue.
In a release, OUP CEO Nigel Portwood said the press had to navigate “technological, social, and political change,” in the fiscal year. “It has, at times, been challenging, but I am grateful for the continued focus and dedication of colleagues across OUP who have enabled us to achieve so much this year.”
In the report, OUP officials highlight the launch of several new digital products and services, its response to “curriculum reforms in many markets,” and “opportunities” relating to AI, “with careful consideration of its implications for research and education.”
Last month, members of the OUP Guild, which represents approximately 150 U.S.-based OUP employees, held a strike outside the publisher's U.S. headquarters as negotiations, which began in February 2022, over a new contract drag on. The union has also made several claims alleging that the publisher has violated U.S. labor law.
