Leafing aimlessly through the Encyclopaedia Britannica’s thousands of delicate pages will become a thing of the past. The company has decided to cease publishing its bound version after 244 years, scores of editions and more than 7 million sets sold. —ARK
Jorge Cauz, president of Encyclopedia Britannica, Inc, suggested that the encyclopedia was already something of a relic within the company itself, which has long since moved its main business away from its trademark publication and into online educational tools.
“The company has changed from a reference provider to an instructional solutions provider,” Cauz said. He projects that only 15% of the company’s revenue this year will come from its namesake publication, mostly through subscriptions and app purchases. “The vast majority” of the remaining 85% of revenue is expected to come from educational products and services, said Cauz, who declined to provide dollar amounts but said the company was profitable.