Cambridge reports billion-pound turnover for 2023-2024

Cambridge University Press & Assessment has achieved revenues of more than £1 billion for the last year – with profits up from £140 million to £203 million – according to its annual report for 2023-2024.

Reaching more than 100 million learners worldwide a year, the organsiation's revenues reached £1.025 billion.

Key statistics highlighted include:

• Number-one dictionary website in the world; 
• More than 11 million grades issued globally by its exam boards in 2023–24;  
• 125 million downloads of scholarly research, including book chapters and research papers took place in 2023-24;
  
• 63 percent of new research articles 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); and
• More than 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, added: “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.”

For the full report click here.

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