Year End: Cambridge University Press Reports Record £1 Billion in Revenue

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England’s merged Cambridge University Press & and Assessment reports record revenues and numbers of users in 2022-2023.

Among programs mentioned in Cambridge University Press & Assessment’s annual report is Cambridge One, its English-language learning platform. Image: Cambridge University Press & Assessment

By Porter Anderson, Editor-in-Chief | @Porter_Anderson

Report: More Than 100 Million Users
In academic publishing this year, a milestone was reached by Cambridge University Press & Assessment, the annual summary of which has shown that the company reached £1 billion (US$1.3 billion) in revenue for the first time in its 2022-2023 reporting period.

In addition, as we reported in August, the program says it now reaches more than 100 million “learners” worldwide.

In terms of research, the company reports that more than 114 million research papers, book chapters, and other elements of scholarly materials were downloaded during the year. More than 50 percent of the company’s research articles are published open access, according to media messaging.

The opening of the Cambridge Open Equity Initiative is reported to have waived fees for academic writers in “more than 100 low- and middle-income countries” to make it possible for them to publish research open access.

Cambridge University made its merger with Cambridge Assessment—two departments of the University of Cambridge—in August 2021.

The resulting company is wholly owned by the university, its profits reinvested in to the company’s educational work.

In a prepared statement on the news of the new revenue high and the level of users, the company’s CEO Peter Phillips is quoted, saying, “Both of these achievements reflect the extraordinary impact that we’re having through our work, whether it’s with teachers, learners or researchers.”

And Deborah Prentice, vice-chancellor of the University of Cambridge, says, “The Press & Assessment’s extraordinary reach and expertise—now extending to 100 million learners worldwide—underpin its importance to our university.

Deborah Prentice

“But its impact extends beyond the sphere of higher education. For many people” in many parts of the world, “Cambridge is known for opening doors to English language learners through IELTS or Linguaskill; for sparking new interests among IGCSE students; and for offering scholars and general readers new insights through Cambridge University Press publications.

“The Press & Assessment makes a significant financial contribution to our university, for which I am profoundly grateful. We reinvest every penny into our shared mission.”

In the aggregate, the annual report indicates that Cambridge University Press has published 191 Nobel Prize laureates. The company has committed to reducing its carbon emissions to zero by the year 2048.

More from Publishing Perspectives on Cambridge University Press is here, more from us on the British market is here, more on university presses is here, more on academic and scholarly publishing is here, more on open access is here, and more on digital publishing is here.

About the Author

Porter Anderson

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Porter Anderson has been named International Trade Press Journalist of the Year in London Book Fair's International Excellence Awards. He is Editor-in-Chief of Publishing Perspectives. He formerly was Associate Editor for The FutureBook at London's The Bookseller. Anderson was for more than a decade a senior producer and anchor with, CNN International, and CNN USA. As an arts critic (Fellow, National Critics Institute), he was with The Village Voice, the Dallas Times Herald, and the Tampa Tribune, now the Tampa Bay Times. He co-founded The Hot Sheet, a newsletter for authors, which now is owned and operated by Jane Friedman.

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