Penguin Wave Goodbye to Print

Posted by MPP Global on Thursday, 04 August 2011

Pearson Limited, an education and business publisher has seen an increase in profits from the Financial Times Online and the eBooks from Penguin, a children’s book specialist. As the latest technology developments such as the Tablet and Smartphones continue to mature; along with new digital platforms, it is now easier for readers to access the latest news stories online at the click of a button or simply subscribe to read current news articles or a variety of books cheaper than ever before. With eCommerce payment technology and the internet pioneering the process of consumers and businesses being able to shop and subscribe safely online; will we see an end to print products?

Reports from Pearson reflect the fact more and more people are turning to online services more than ever, reports from last year show a 7% revenue increase online from the Financial Times Group alone. However, Penguin from Pearson’s educational sector seen a drop of 4% for overall sales figures even though eBook profit increase dramatically by 130%. With figures like these the next generation are already learning and benefitting from the latest technology, and parents around the world can only be grateful for the technology encouraging children to read more. This exposure to cutting edge technology is also preparing children earlier for the educational and work arenas where greater emphasis is placed on computing skills, as well as bringing the overall cost of textbooks down meaning the cost benefits to the educational development of the next generation is dramatic. With eBooks now accounting for 14% of Penguin’s worldwide revenue, and the rise of reading devices such as Amazon’s kindle and more convenient payment technology to process online subscriptions becoming common place in the publishing sector it seems that the future for publishing is certainly within the digital space. The key consideration for all advocates of digital content monetisation however must be the needs and the demands of the consumer. Offering centralised and user friendly payment accounts as well as high level security for customer data is imperative.

MPP Global offer our clients the functionality to process online subscriptions, recurring billing through centralised, secure eCommerce payment solutions.

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