About John Wiley & Sons, Inc.
John Wiley & Sons (known as Wiley, for short) publishes scientific, technical, and medical works, including more than 7 million articles from 1,700 journals as well as 19,000 online books and hundreds of multi-volume reference works, laboratory protocols, and databases. Journal subscriptions are primarily licensed through contracts for digital content available via its Literatum platform (formerly the Wiley Online Library). The firm also produces professional and nonfiction trade books, such as the For Dummies how-to series, and is a publisher of college textbooks. Wiley has operations in North America, Europe, Asia, and Australia. Most revenue comes from the US.
Wiley organizes its operations by three business segments: Research (more than 50% of revenue), Publishing (more than 30%), and Solutions (less than 20%).
Research earns revenue through operations such as journal subscriptions, individual article sales, licensing, reprints, and converting print documents into digital images. With its Open Access offering, authors pay Wiley an article publication fee to make their paper freely available to Wiley's network of journals. Its Atypon offering is a publishing software and service provider that enables scholarly and professional societies and publishers to deliver, host, enhance, market, and manage their content on the web through Wiley's Literatum platform.
The Publishing segment acquires, develops, and publishes scientific, professional and education books and related content, as well as test preparation services and courseware, to libraries, corporations, students, professionals, and researchers.
Wiley's Solutions segment provides online program management services for higher education institutions. It also offers learning, development, and assessment services for companies and professionals. The company assists clients with increasing enrollments for online programs, signing new university partners, developing digital learning solutions, and related services.
Wiley has its headquarters in New Jersey and additional publishing, marketing, and distribution centers across North America, Europe, Asia, and Australia.
Its has a US presence in Indiana, California, Massachusetts, Illinois, Florida, Minnesota, Texas, Colorado, and Kentucky. It has international operations in Australia, Canada, the UK, France, Gerany, Jordan, Singapore, Russia, China, India, and Greece.
The US accounts for the largest share of revenue at more than 50%, followed by the UK (about 10%) and Germany (about 5%).
Sales and Marketing
Wiley spent $89.5 million, $68.3 million, and $61.4 million on advertising in fiscal years 2019, 2018, and 2017, respectively.
Throughout the five-year period ending in fiscal year 2019 Wiley reported little to no revenue growth. During that same period profits jumped up and down, reaching a low of $113.6 million in 2017 and a high of $192.2 million in 2018.
Revenue for fiscal year 2019 was flat compared with the prior year at about $1.8 billion. Revenue increases in the Research and Solutions divisions were offset by declines in Publishing print product sales.
Net income dropped from $192.2 million in 2018 to $168.3 million in 2019. In 2019 the company recorded pre-tax charges of $3.1 million related to its restructuring and reinvestment program. The company is in the middle of a multi-year business optimization program that it expects will save approximately $100 million through fiscal 2021, though most of the savings will be reinvested to drive and sustain profitable revenue growth. Due to its restructuring program Wiley plans to see an earnings dip in fiscal '20 before earnings growth returns in fiscal '21.
Cash at the end of 2019 was $93.5 million. Cash from operations was $250.8 million, while investing activities used $301.5 million. Financing activities used $17.6 million.
As revenue from traditional print publishing continues to decline, Wiley is investing in its digital products and tech-enabled services. It is especially focused on test preparation and professional assessment business. The company has also identified research subscriptions, Open Access, and Atypon as key elements of its portfolio.
In its tech-enabled education services, Wiley is developing and delivering education offerings designed to help universities and corporations bridge the skill gap. It signed Northern Illinois as a new university partner in 2019 and added approximately 30 new degree programs in areas such as business, law, healthcare, and technology. It also launched an online software coding program with Yeovil College to meet the growing need for skilled software developers. Students who complete the program will have access to Wiley's employer network of more than 450 companies.
Mergers and Acquisitions
In 2019 Wiley purchased assets from New York-based Knewton, an educational technology company, for an undisclosed amount. Knewton's Alta affordable digital course materials, including interactive learning content, assignments, and review materials, addresses the need for low cost education content and has been adopted by over 300 colleges and universities.
The prior year Wiley acquired Learning House, a provider of skills training and credentialing, for $200 million in cash. Based in Louisville, Kentucky, Learning House offers services such as boot camps, training programs for students and working professionals, and professional development options for teachers. Wiley made the purchase to boost its Education Services offerings, especially within online program management. The combination gives Wiley 60 university partners and some 800 online degree programs. Wiley is strong in larger schools and graduate level programs and Learning House is strong in smaller regional schools and brings a focus on undergraduate education.
Charles Wiley founded a bookstore when he was 25 years old in 1807 and began printing and marketing books for local authors in return for a share of the profits. Soon, prominent writers began meeting in the store's back room (known as "The Den"), which attracted more attention to the business. By the end of the Civil War, the firm (renamed John Wiley & Sons, after Charles' son) had become an established publisher of books on science and technology.
111 RIVER ST
Hoboken, NJ 07030-5790
Phone: 1 (201) 748-6000
Employer Type: Publicly Owned
Stock Symbol: JW.A
Stock Exchange: , NYSE
Chairman: Matthew S. Kissner
President, CEO, and Director: Stephen M. Smith
General Manager Learning Solutions Wiley Canada: Maureen Talty
Employees (This Location): 100
Employees (All Locations): 5,700
San Francisco, CA