Cengage hails subscription service take-up; full-year revenue is flat

Cengage hails subscription service take-up; full-year revenue is flat

Cengage Unlimited—the full-access textbook subscription service launched by Cengage last year—has topped one million purchases in its first eight months, helping to drive the company's financial performance for the year, the publisher has said.

Previewing its financial results for the fiscal year to end March 2019, which will be reported in full in May, Cengage said the "accelerating traction" of the subscription take-up, plus a strong fourth quarter, had taken the company's adjusted EBITDA less pre-publication costs to $291m, over guidance of $275m. Last year adjusted EBITDA less pre-publ...

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