Revenue flat at Wiley US, down in publishing division

In the US, declines in John Wiley’s publishing division offset increases in other categories, reports Publishers Weekly.

Total revenue stayed flat at US$1.72bn (A$2.28bn) in the fiscal year ending 30 April. Foreign exchange had a negative impact of US$43m (A$57m) on revenue, with Wiley generating around half of its revenues from international markets. Net income fell 28.3% to US$113.m (A$150m).

Revenue in the publishing division fell 9% to US$633.4m (A$840.7m). Book sales dropped 11% from 2016, with revenue for education books falling 13% and STM (scientific, technical and medical) and professional books declining 9%.

Research was Wiley’s largest operating segment, with a 3% rise in revenue to US$853m ($A1132m).

In fiscal 2017, Wiley continued to transition away from print by focussing on digital content and services, which accounted for 68% of all revenue, up from 63% in fiscal 2016.

The company said it expects sales in its publishing group to fall by high single digits due to ‘the further erosion of print book markets’. It anticipated low-single digit revenue growth in research, and low double-digit revenue growth in solutions.

Category: International news