Simba Information recently published PreK Reading 2023, which details the size and structure of the PreK reading instructional market, worth $411 million in 2022. The study also examines the top providers of pre-kindergarten reading materials.
The ability to adapt and innovate has allowed these companies to thrive in an ever-shifting, complex, competitive market. Read on to learn more about the different education companies featured in the report.
1. Scholastic Corporation
Scholastic is the largest publisher of children’s literature in the world, providing books and entertainment for children in all learning stages. Scholastic Education, just one of the company’s divisions, provides learning materials, both print and technology based, to communities, teachers, and families. These learning materials follow curriculums exclusive to Scholastic, most notably Scholastic Literacy, developed for children from kindergarten to sixth grade. Despite the economic struggles brought on by a global pandemic, the company still thrives and continues to give back to communities all over the world.
2. Savvas Learning Company
Savvas Learning Company, formerly Pearson K12 Learning, became a standalone company in 2019. The company split off from Pearson Education and was purchased by the private equity firm Nexus Capital Management. They specialize in digital curriculums and integrating technology and education, specifically for K-5, and believe in equipping children to be independent learners. The company provides foundational reading instruction that is aligned to the science of reading and teaches phonological awareness skills for preschoolers.
3. McGraw Hill
The McGraw Hill Publishing Company was formed in 1917 by the merging of the two separate companies. For decades, McGraw Hill has strived to be an innovative publishing company. In 1989, they established the first computerized publishing company known as Create, and in 2009 the company launched McGraw Hill Connect, “an all-digital teaching & learning platform for higher education -- reaching millions of learners within months.” Despite pandemic related economic struggles, McGraw Hill’s digital billings have increased by a compound annual growth rate of 8%, and as digital learning increases in demand, the company is expected to grow.
4. Houghton Mifflin Harcourt
About 90% of US K-12 uses the curriculum HMH core (provided by Houghton Mifflin Harcourt), intervention, and supplemental programs for their students. While sales revenue declined significantly in 2020, coming out to $840.5 million, it recovered by over $200 million in additional sales in 2021. In January of this year, the company acquired the non-profit organization, Northwest Evaluation Association (NWEA), which specializes in assessment solutions. Houghton Mifflin Harcourt has transitioned to a digital-first learning company and is expected to continue to adapt well to the changing education system.
5. Follet School Solutions
Follett School Solutions focuses on aiding educators of PreK-12 students; they provide content, technology, and services for equipping their classrooms. In their words, “Nothing drives better student outcomes than a devoted educator. Nothing engages students more than imaginative learning experiences.” Their online database, known as Titlewave, makes content and support materials accessible for teachers and libraries, including PreK instructional materials. Follet has expanded its market by working with partners to provide eBooks and other integrated learning technology.
6. Renaissance Learning
The primary focus of Renaissance Learning is cloud-based learning tools. The company expands its portfolio by working with various partners to bring these helpful and accessible tools to classrooms and educators to more than one-third of US schools, and locations around the world. Their accelerated learning programs support educators and students in and out of the classroom to make learning accessible.
Through bold innovations and strategic developments, these companies aid both students and teachers in a rapidly changing society. To find out more about the progress being made for pre-kindergarten learning, check out Simba Information’s report PreK Reading 2023, which provides an industry overview, forecasts, and profiles of leading companies with information on their key operating segments, financials, and strategies.