McGraw-Hill says digital sales beat print for first time
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NEW YORK — McGraw-Hill Education, one of the largest publishers of school textbooks, said sales of its digital content and online programs surpassed print sales for the first time last year.
The company has been investing heavily on its digital learning tools used in classrooms. Its online programs let teachers assign work to students, build lesson plans and manage grades. Students can use it to learn, hand in work and communicate with teachers.
McGraw-Hill Education said Friday that new users of its Connect platform, used in colleges, rose 16 percent in 2015 from the previous year. New users of its LearnSmart and SmartBook program, used by college students to read course materials, rose 18 percent. New users of ALEKS, used by grade schools and colleges, had a 14 percent rise.
The company said it will release full financial information for 2015 and the fourth quarter by the end of the month.
McGraw-Hill Education, based in New York, is owned by Apollo Global Management LLC. It is in the midst of becoming a public company, filing plans in September for an initial public offering.