Cambridge releases annual report

Cambridge University Press & Assessment says it is reaching more than 100 million learners worldwide a year and claims it is one of the world’s most influential education organisations. The Report shows that revenues reached £1.025 billion and operating profit reached £203 million, up from £140 million operating profit last year. The publisher says any surplus is reinvested in the University of Cambridge’s mission.

Cambridge University Press & Assessment says:

• It is the number 1 dictionary website in the world
• 125 million downloads of scholarly research, including book chapters and research papers took place in 2023-24
• 63 percent of new research articles are now published as open access
• Cambridge University Press and its partners have published almost 200 Nobel Laureates (Cambridge also published seven of the most recent Nobel laureates)
• Over 11 million grades were issued globally by its exam boards in 2023–24
• Over 1,000 colleagues volunteered nearly 6,200 hours in their local communities

Peter Phillips, chief executive of Cambridge University Press & Assessment, said: "Around the world, there is a desire for higher quality, more relevant and accessible education. Cambridge is helping to meet those aspirations for more than 100 million learners each year.

“Our teams are working with governments and schools around the world to contribute toward solutions. Our global network of thousands of Cambridge schools is sharing ideas and innovations between teachers to make curricula more relevant. Our work with partner organisations is drawing together experts to educate refugees, especially girls and displaced children. We are also leading on the cross-disciplinary conversations around artificial intelligence, law and governance through our new open access Cambridge Forum academic journals.

"As new technologies emerge and mature, such as generative AI or digital assessment, Cambridge has been implementing applications to help our customers, harnessing opportunities to respond to the needs of learners, teachers and researchers."

Mandy Hill, managing director, academic at Cambridge University Press & Assessment, said: “Cambridge University Press celebrated its 490th anniversary this year and we continue to combine a commitment to quality and a bold, innovative approach to open access, publishing and sustainability.

“Our ambition is to become a fully open access journal publisher: 63 percent of new journal research content is now open access and forty more journals have ‘flipped’ to an open access model this year. Cambridge’s transformative agreements are enabling a transition for journals from a ‘pay to read’ to a ‘pay to publish’ world.”