"Revenue from its US textbook business fell 12 per cent last year, while print revenue was down 30 per cent and sales from bundles to university students plunged 45 per cent."
Ok, who didn't realize this? Wasn't this leaderships plan with Revel, Digital First, Inclusive Access, GLP, and all the rest of our initiatives? Leadership gives reps the plan, we execute the plan and now everyone is surprised to see a drop in revenue. JF says "It will provide a headwind as it did in 2019, there will be a smaller financial hit the year after." Translation: we're still bleeding money, as we did for the past 3 years, we will again this coming year.
Now read between these lines.
“One of the reasons Pearson as a share is in the doghouse is because of courseware . . . The impression is that this area of the business is poisoning the well, or in danger of poisoning the well.”
Congratulations, we've all now been given the scarlet letter of poisoning the overall Pearson well.