PRN: Education Providers Pivot as Distancing Measures Present New Opportunities

13/gen/2021 10:51:17 PR Newswire Turismo Contatta l'autore

Education Providers Pivot as Distancing Measures Present New Opportunities

 
[13-January-2021]
 

FinancialBuzz.com News Commentary

NEW YORK, Jan. 13, 2021 /PRNewswire/ -- The past year proved to hold a sizeable challenge for the education systems of many countries. However, with the crisis of traditional educational systems came the opportunity to modernize, specifically in the online education market. Due to the pandemic and its implications, online institutions were forced to transition to accelerate some of the transformations that were already being slowly implemented over time â€�“ making education available to everyone with an internet connection. Eventually, after the pandemic is behind us, hybrid teaching is expected to emerge as the most popular approach to restore a more traditional classroom setting, while also allowing for some students to continue learning from home, part- or full-time. According to findings from surveys of teachers and administrators in a new report from the Clayton Christensen Institute, a nonprofit resear! ch organi zation that promotes innovation in education and other fields, "many teachers have tried to re-create the physical classroom experience for students by hosting long whole-group videoconference calls and sharing documents in the learning management system, approaches that are contrary to the advice of online learning experts. Slightly more than 40% of educators said their synchronous remote instruction, in which they're 'face to face' virtually with students, lasts as long as a regular school day." Meten EdtechX Education Group Ltd. (NASDAQ: METX), TAL Education Group (NYSE: TAL), Chegg, Inc. (NYSE: CHGG), Perdoceo Education Corporation (NASDAQ: PRDO), Stride, Inc. (NYSE: LRN)

Besides the pandemic and its implications, the other major factors driving the growth of academic e-learning market size, in the long-term, are the increasing higher education e-Learning enrollment numbers and the launch of new online degrees. Online learning is also structured to save time and opens several doors to immersive learning. Instead of being passive, learners can choose what they need to learn quickly and easily, from wherever they are. Overall, the global online education market size is projected to reach USD 245.9 Billion by 2026, from USD 153.18 Billion in 2020 while witnessing a CAGR of 8.2% during 2021-2026, according to data provided by Valuates Reports.

Meten EdtechX Education Group Ltd. (NASDAQ: METX) announced on December 31st  that, " After the acquisition of ABC Education Group, a junior ELT service provider operating under the "ABC" brand, in 2018, the Company has been constantly upgrading and optimizing the brand. The business of ABC junior ELT has gradually matured, and starts to show the profitability.

ABC junior ELT is an independent brand of Meten EdtechX, focusing on providing junior ELT service for children aged three to 16. Since the resumption of classes in September this year, the resumption rate of ABC junior ELT has exceeded approximately 90%, and the attendance rate of which has reached 100%. The gross billing of ABC junior ELT in November 2020 increased by approximately 10% on a year-on-year basis, and the business has returned to pre-pandemic levels. Recently, the dual-teacher classrooms have been introduced at 16 learning centers of ABC junior ELT, integrating the online and offline business model. The Company has optimized the structure and functions of ABC junior ELT in the fourth quarter of 2020, which is expected to lower the cost of foreign language teaching for ABC junior ELT by approximately 25% on a year-on-year basis in 2021, significantly improving operating efficiency.

At present, there is still a large space for the development of the junior ELT training market in China and the penetration rate is expected to increase going forward. Relying on the network of existing adult and junior offline learning centers, Meten EdtechX will continue to explore the high-end junior ELT training market in China, which may consolidate the long-term competitive advantages of the Company."

For our latest "Buzz on the Street" Show featuring Meten EdtechX Education Group Ltd., recent corporate news, please head over to:

https://www.youtube.com/watch?v=WqSfyFd6MI8&ab_channel=FinancialBuzzMedia  

TAL Education Group (NYSE: TAL) is K-12 after-school tutoring services provider in China. Back in October the Company announced unaudited financial results for the second quarter of fiscal year 2021 ended August 31st, 2020. Net revenues increased by 20.8% year-over-year to USD 1,103.3 Million from USD 913.2 Million in the same period of the prior year. "TAL's financial results of the second fiscal quarter reflected a combination of the continued strong growth momentum of our online courses and the lingering pressure on our offline business in this period. Although the second fiscal quarter was marked by the extended impact of the COVID-19 outbreak, we are encouraged to see that the public health situation and general economy began to improve in China, and offline teaching and tutoring gradually resumed during t! he summer months," said Rong Luo, TAL's Chief Financial Officer.

Chegg, Inc. (NYSE: CHGG) reported back in October financial results for the three months ended September 30th, 2020. "We have always said that the future of education was inevitable; to become increasingly online, on demand, and more affordable," said Dan Rosensweig, CEO & President of Chegg, Inc., "The trends we are seeing in the industry and the momentum we are experiencing globally give us the confidence to raise our guidance again for 2020 and provide our initial outlook for 2021." Total Net Revenues of USD 154.0 Million, an increase of 64% year-over-year and Chegg Services Revenues grew 72% year-over-year to USD 118.9 Million, or 77% of total net revenues, compared to 74% in Q3 2019.

Perdoceo Education Corporation (NASDAQ: PRDO) academic institutions offer postsecondary education primarily online to a diverse student population, along with campus-based and blended learning programs. Last month the company announced financial results for the quarter and year to date ended September 30th, 2020. Total student enrollments at September 30th, 2020 increased 17.2%. CTU's total student enrollments increased 4.8% while AIU's total student enrollments increased 37.7%. "The year to date results underscore our commitment to student experiences, retention and academic outcomes and I'm proud of the entire Perdoceo team for their efforts to educate, serve and support our students," said Todd Nelson, President and Chief Executive Officer. "Investments in data analytics and technology across our academic platforms have enhanced student learning and strengthened the effic! iency and effectiveness of our student support processes. Our financial position continues to strengthen and we remain focused on executing against our objective of sustainable and responsible growth."

Stride, Inc. (NYSE: LRN) announced earlier this month its partnership with 21K School, India's first online school that offers personalized and structured education programs for online students at home across the Indian subcontinent. "Stride, Inc. has a proven curriculum designed to help advance the education for learners of all ages, and in all places," said Scott Durand, Senior Vice President and General Manager, Learning Solutions. "This collaboration with 21K School in India gives Indian students the opportunity to advance their education and get ahead of the competition." Presently, 21K School offers their National Curriculum to over 300 K-5 students across 25+ cities in India and abroad. The international progra! ms in ass ociation with Stride, Inc. would be available in India from the start of the next academic year and enrollment would begin on Jan. 14th, 2021.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. Financi! alBuzz.co m receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For meten edtechx education group ltd video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has signed a four-month agreement with the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagem! ent. Fina ncialBuzz.com has agreed to three hundred thousand common and restricted shares locked up for six months, FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment deci! sions bas ed on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or tim! eless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

Media Contact:

info@financialbuzz.com
+1-877-601-1879 
www.FinancialBuzz.com

 

blog comments powered by Disqus
Comunicati.net è un servizio offerto da Factotum Srl