Social Distancing Orders Help Shift Education Services Online

Loading...
Loading...

NEW YORK, Dec. 23, 2020 /PRNewswire/ -- Ipsos Group S.A. conducted a survey for the World Economic Forum in 29 countries on how they see higher education being delivered in five years' time. According to the survey results, in 2025, higher education will be a hybrid of in-person and online learning. Since the pandemic's inception, about 1.3 billion learners have affected as schools and universities were forced to close, and eventually adopt 'blended' learning strategies. These strategies seek to mix online with face-to-face studies. And according to the report, almost three-quarters (72%) of the 27,500 respondents said higher education in their country would be conducted online at least as much as in person, if not more. Meten EdtechX Education Group Ltd. METX, New Oriental Education & Technology Group Inc. EDU, TAL Education Group TAL, Chegg, Inc. CHGG, Perdoceo Education Corporation PRDO

As if to back up that projection, the popularity of online education services, as well as online curriculums by universities, is growing rapidly in emerging markets. A large part of the growth is due to the increasing internet penetration, coupled with mounting use of mobile devices in emerging economies such as China, India, Malaysia and South Korea. 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. METX announced yesterday breaking news that the Company, "through its online ELT platform, "Likeshuo", had generated over RMB10 million in gross billings during the 12-day "Double 12" nationwide promotion activity on Tmall.com from December 1 to December 12, 2020.

As previously disclosed, "Likeshuo" remained the No. 1 ELT sales[1] among all language training service providers who participated in the "Singles' Day" nationwide promotion activity on Tmall.com for three consecutive years in terms of gross billings. During the11-day "Singles' Day" nationwide promotion activity from November 1 to November 11, 2020, "Likeshuo" generated more than RMB8 million in gross billings.

In response to the COVID-19 pandemic, many Chinese consumers have been changing their shopping habits, switching from offline shopping to online shopping. Platforms with strong exposure, fast dissemination, and high user stickiness have become key players in the PRC education industry. The Company is actively developing new marketing strategies and has successfully cooperated with top-tier celebrities in the PRC for livestream promotion of "Likeshuo". As a result, the Company has achieved significant gross billings during entire "Double 12" nationwide promotion activity.

In addition to promoting through livestreaming involving celebrities, "Likeshuo" is also continuously developing marketing approaches through various third-party channels such as TikTok, WeChat and other short video platforms to quickly seize the traffic entrance through targeted content delivery and efficiently acquiring customers. Currently, the cumulative topic views of "Likeshuo" on TikTok have exceeded 10 million.

Relying on the Company's powerful omnichannel platform and brand resources, we have been constantly improving "Likeshuo"'s competitive strengths. It has been well recognized by the education industry, which had successfully entered the "Learning with Guarantee" channel of Taobao Education. As the No. 1 ELT brand on Tmall.com, "Likeshuo" launched the "One-on-one oral English tutor for adults" and "LikeABC" courses, which have become the recommended courses of the "Stressless Learning" section in the "Learning with Guarantee" channel."

[1] Ranking based on gross billings from November 1 to November 11, 2020

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=WCpcKeEDwXI

New Oriental Education & Technology Group Inc. EDU provider of private educational services in China based on the number of program offerings, total student enrollments and geographic presence. New Oriental offers a wide range of educational programs, services and products consisting primarily of language training and test preparation, primary and secondary school education, online education, content development and distribution, overseas study consulting services, pre-school education and study tour. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

TAL Education Group 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 the summer months," said Rong Luo, TAL's Chief Financial Officer.

Chegg, Inc. CHGG announced last year that it has entered into a definitive agreement to acquire Thinkful, an online learning platform that offers professional courses directly to students across America. 85% of Thinkful graduates get jobs in their field of study within six months of graduating their program. "With the anticipated addition of Thinkful to our platform, Chegg will continue to expand our offerings and make it easier for students to accelerate their path from learning to earning," said Dan Rosensweig, CEO of Chegg. "Students are increasingly looking to improve their professional opportunities by learning the most relevant job skills, either while in school or soon after. Adding Thinkful courses to our suite of Chegg Learning Services will enable us to empower students to obtain in-demand, high-quality job skills, for the fastest-growing job categories, with affordable prices. Thinkful has achieved strong revenue growth of greater than 30% year-over-year because it has focused on going directly to students and helping them gain the most valuable skills for today's workforce."

Perdoceo Education Corporation 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 efficiency 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."

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

Loading...
Loading...

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. FinancialBuzz.com 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 engagement. FinancialBuzz.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 decisions based 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 timeless 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

 

SOURCE FinancialBuzz.com

Loading...
Loading...
Posted In: Small CapOpinionPress Releases
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...