New research by EPS market monitor ltd

According to findings of the initial report from the EPS Market Monitor ñ Education & Training research programme, in 2003 the Education & Training market generated $23.9 billion in revenue for North American and European content providers. EPS expects an acceleration of current low-single-digit underlying growth rates, resulting in compound annual growth of 4.5% through 2008, spurred by factors including economic expansion in core markets, a cyclical upturn in US K-12 adoptions, and new investments in international markets.

The five leading players ñ Pearson Education, McGraw-Hill Education, Thomson Learning, Harcourt Education, and Houghton Mifflin ñ each exceeded $1 billion in 2003 revenues, but turned in generally flat performances in 2003. Measured in US dollars, only Houghton Mifflin (up about 5%, helped by two acquisitions) managed to exceed 1% revenue growth for the year. Pearson Education, Thomson and Harcourt all reported negative underlying growth.

ìThe most dynamic growth has been among the more specialized, second-tier players,î said Steve Sieck, managing partner of EPS-USA and director of the Market Monitor programme. ìBut overall, demographic trends in Asia, Latin America, and other international markets will create the most substantial new opportunities for global players.î

ìAt a time when politicians on both sides of the Atlantic stress the importance of education and debate the resources which should be devoted to educational content and technology, this survey demonstrates that outside of some niches where real gains are being made, growth remains hard-fought, patchy and inconsistent. More than ever, educational publishing is a risk business where participants must arm themselves with the best information available in order to make critical investment or diversification choicesî.

Electronic Publishing Services Limited (EPS) has launched the EPS Market Monitor research program to provide accurate measurement and reliable benchmarking of the global Scientific, Technical and Medical (STM), Legal, Tax & Regulatory (LTR), Education & Training, and Business to Business publishing and information services sectors. EPS, the leading content industry market intelligence and consultancy company, with offices in London and New York, created the EPS Market Monitor to help publishers, investors, and technology and services providers marshal the facts and analyses needed to design and execute successful business strategies, assess performance, and mitigate investment risk.