WASHINGTON — College students typically complain about tuition and books and often resell their used textbooks to recoup some money. Now, textbook companies are taking notice.
Reuters reports that the textbooks companies may end that source of cash because they do not make money on the reselling of old textbooks.
Pearson and McGraw-Hill, two leading publishers, are looking to create online versions of their texts with interactive features and sell students access codes that expire at the semester’s end. It is a new trend to shift toward e-books and not written, hard-copy textbooks.
Online products make up 27% of the $12.4 billion spent on textbooks for high schools and colleges, said research firm Outsell Inc. At least half of Pearson’s revenue last year came from digital purchases and services.