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It is gearing up for an expanded paid pilot in the coming months. The platform currently has 450 users from several dozen colleges and universities. The challenge is bringing it together in a single useful tool. Out of these there has been an explosion of valuable, usable content suitable for college-level learning. OER emerged almost 20 years ago from UNESCO’s 2002 form on open courseware and the MIT Open CourseWare initiative. Have notes that you want to share? Do so in real time in the digitized margins.Īll of it is built around Open Educational Resources, a global effort to create freely accessible, openly licensed text, media and other digital assets. Have a question for the professor? Post it live from the text’s source. Through its application, students and instructors collaborate in what seems to be a dynamic, interactive textbook. So how is ecoText so disruptive? The platform goes far beyond an e-book, according to the company’s pitch material. Regardless of how America’s high schools operate over the new few years - remote or in-classroom - that market is also ripe for opportunity for ecoText. Meanwhile, e-book usage accounts for only about 6% of the demand.
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Other university-backed free textbook efforts include the University of Minnesota’s Open Textbook Library and the Massachusetts Institute of Technology’s Open CourseWare project. Pearson (NYSE: PSO) had a 42.7% share of the market by revenue in 2018, Cengage Learning (OTCMKTS: CNGO) had 21.8% and McGraw-Hill Education had 15.9%. Cengage and McGraw-Hill abandoned a planned merger earlier this year in response to antitrust concerns.ħ Travel Stocks to Buy Banking On Pent-Up DemandĪn estimated 2.9 million students used free digital textbooks from OpenStax last year. There are some 20 million undergraduate students in the United States, with many more expected in the coming years as new jobs require new skills.Īll told, the higher education textbook market is worth about $14 billion. The prices of college textbooks have increased 135% since 2001, while the overall consumer price index is up 46% in the same period.
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We all know textbooks are expensive, so let’s see what ecoText is all about.