Cambridge University Press Reports Record Revenue of £1 Billion at Year’s End

Cambridge University Press & Assessment achieved a significant milestone in academic publishing this year. According to the annual summary, the company’s income for the 2022–2023 reporting year surpassed £1 billion (US$1.3 billion) for the first time.

Furthermore, the program claims to reach over 100 million “learners” globally, as we revealed in August.

According to the company, over 114 million scholarly resources, including book chapters and research papers, were downloaded in the course of the year. According to media messaging, almost half of the research articles produced by the company are published in an open access format.

According to reports, the launch of the Cambridge Open Equity Initiative allowed academic writers in “more than 100 low- and middle-income countries” to publish their research open access by waiving their fees.

In August 2021, Cambridge University and Cambridge Assessment, two divisions of the University of Cambridge, merged.

The university owns all of the resulting company, and it reinvests its profits back into the business to further its educational goals.

The company’s CEO, Peter Phillips, is reported as saying, “Both of these achievements reflect the extraordinary impact that we’re having through our work, whether it’s with teachers, learners, or researchers,” in a prepared statement regarding the news of the new revenue high and the number of users.

Vice-chancellor Deborah Prentice of the University of Cambridge adds, “The Press & Assessment is extremely important to our university because of its exceptional reach and competence, which currently encompass 100 million learners globally.

“But its impact extends beyond the sphere of higher education. For many people” in many parts of the world, “Cambridge is known for opening doors to English language learners through IELTS or Linguaskill; for sparking new interests among IGCSE students; and for offering scholars and general readers new insights through Cambridge University Press publications.

“The Press & Assessment makes a significant financial contribution to our university, for which I am profoundly grateful. We reinvest every penny into our shared mission.”

The annual report as a whole shows that 191 Nobel Prize winners have been published by Cambridge University Press. The corporation has made a commitment to achieving zero carbon emissions by 2048.

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