Lisa B. Dubrow, Esq. explains new updates to Vermont’s Automatic Renewal Online Cancellation Provisions which goes into effect on July 1, 2020.
Textbook Publishers McGraw-Hill and Cengage Call Off Merger After Failing to Overcome Regulatory Hurdles
A year after embarking on a merger, textbook publishers McGraw-Hill and Cengage have called off the deal because they couldn't overcome regulatory hurdles.
VISA has announced an Emergency COVID-related Operational Business update and this announcement delays VISA’s enhanced descriptor requirement until April 2021 with proactive compliance enforcement put on hold for the time being. All other aspects of the policy including clear T&Cs upon enrollment, reminder notification, and online cancellation remain in effect as of April 18, 2020. Lisa B. Dubrow, Esq. explains.
Change is here for the subscription industry. Customer retention is top priority while competition grows and customer expectations shift. So, which trends should be on your radar? And what strategies and tactics should you be using to ensure subscriber growth?
Sixteen months after its launch, education and technology company Cengage has sold 2 million Cengage Unlimited subscriptions, saving college students an estimated $125 million in digital textbooks, ebooks, study guides and other online resources. The subscription program is expected to save students a total of $160 million by the end of the current academic year. The subscriptions are all-inclusive. For one flat-rate, students get unlimited access to Cengages full library of online materials for a term, ranging from four months to two years.
London-based Perlego, a textbook subscription service serving 28 countries in the European Union, has raised $9 million (7 million) in Series A funding. Charlie Songhurst, Dedicated VC and Thomas Leysen participated in the funding round, along with existing investors ADV, Simon Franks and Alex Chesterman. To date, the three-year-old textbook provider has raised about $15 million, reports EdSurge. The company says it will use the new capital to expand into new European markets and improve its non-English content.
When you've had your fill of national politics or are done binge-watching your favorite show on Netflix, we've got some interesting features in this week's Five on Friday, including millennial news consumption, a global browser rollout and streaming music revenue estimates. The Knight Foundation looks at the news behaviors and beliefs of young adults, Google Chrome rolls out its latest version globally, a new study shows that subscription service buyers buy more than expected, textbook publisher Pearson is pushing students toward digital books, and Digital Music News shares streaming music revenue estimates for the year.
At Subscription Show 2019, we'll show you the latest on subscription-centric strategy, recurring payments, acquisition, retention, analytics and subscription technology. Get the industry connections you need, and actional information you can put into action, to grow your recurring revenue, membership or subscription business. Get the list of why you should attend here.
Last week, two educational publishing powerhouses - McGraw-Hill and Cengage - announced they would merge in an all-stock deal on equal terms. The deal will combine the strengths of both publishers to form a new global learning company, benefiting students, educators and related professionals. The boards of both companies have unanimously approved the deal. According to Publishers Weekly, the deal is expected to close by early 2020. It will retain the McGraw-Hill name and be led by Michael Hansen, the CEO of Cengage.
Last Friday, after more than 6 months of contract negotiations, the University of California terminated their multi-million dollar subscription with Elsevier, the world's largest scholarly publisher. UC's goal in negotiating the contract was to contain costs for its 10 campuses and authors while ensuring its published materials, which account for close to 10 percent of all U.S. publishing output, are immediately available to global readers without cost. Instead, Elsevier wanted to charge UC authors large publishing fees in addition to the university's nearly $11 million subscription deal.