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Many companies renting physical books also rent e-books. Since e-book rental distribution rights are totally different from physical books many smaller companies are not able to rent e-books from standard publishers like McGraw-Hill, Pearson, Prentice Hall, Cengage, etc due to the high licensing fees required for rental rights.
CourseSmart was founded in 2007 by the higher education publishers Macmillan, Cengage Learning, John Wiley & Sons, McGraw-Hill Education, and Pearson. [1] CourseSmart offered access to e-textbooks via web browser from its foundation in 2007. The company allowed readers to rent e-books, rather than buying physical textbooks at an increased cost. [2]
Libby, owned by digital distributor OverDrive, is one of the most popular e-book rental apps. Readers can borrow e-books for free and download them or send them straight to their Kindle.
Users browse books online and have their choices home-delivered, rather than physically visiting a library to borrow a book. This e-commerce model is comparable to the video rental service provided Netflix. In 2009, online book rental was gaining popularity in India, with a number of websites offering free doorstep delivery for a small monthly fee.
Online retailing: Products: Online textbook rental eTextbooks Online learning Online tutoring Networking: Revenue: US$767 million (2022) Operating income: US$8.96 million (2022) Net income: US$267 million (2022) Total assets: US$2.47 billion (2022) Total equity: US$1.12 billion (2022) Employees: 2,071 (Dec 2022) Subsidiaries: Busuu Chegg Tutors ...
McGraw-Hill took full ownership of the venture in 1993. In 2004, The McGraw-Hill Companies sold its children's publishing unit to School Specialty. [15] In 2007, The McGraw-Hill Companies launched an online student study network, GradeGuru.com. This offering gave McGraw-Hill an opportunity to connect directly with its end users, the students.
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