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Wiley Reports Strong Sales Gains Amid Strategic Shift

Wiley, in a significant transition following its extensive divestiture program, announced encouraging sales performance in its ongoing business sectors for the second quarter ending October 31, 2024. The company recorded a 2% increase in research revenue, reaching $262 million compared to the same period last year. Concurrently, sales in Wiley’s learning division rose by 8%, totaling $162 million. However, when accounting for revenue from divested segments, overall sales saw a decline of 13% year-over-year. Notably, operating profit surged by 39%, amounting to $64.1 million, a reflection of various cost-control initiatives implemented by the company.

Delving deeper into specific sectors, Wiley attributed the 2% growth in its research division to heightened interest in its gold open access program and slight advancements in institutional models. These gains, however, were partially counterbalanced by reductions in revenue from print materials and licensing agreements.

The 8% surge in the learning division was primarily fueled by an 11% increase in the professional segment, which benefited from improved sell-through rates at retail outlets. The academic sector also experienced a 5% growth, driven by sales of zyBooks digital courseware and a rise in revenue from inclusive access and licensing. The division reported an additional $4 million in unique AI licensing revenue during this quarter.

Previously, Wiley had disclosed two major AI licensing agreements with a technology firm, valued collectively at $44 million. In the latest quarterly report, CEO Matthew Kissner highlighted that the company is witnessing sustained interest from technology companies and various corporate developers seeking high-quality content and data for the training and commercialization of AI models.

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