Oxford University Press turnover boosted by 'technological change'

Oxford University Press (OUP) has reported a “surplus” of £113m, an increase of 12% year on year following a shift towards digital publishing. 

The press, which has charitable status which is why it operates on a basis of “surplus” rather than profit, reported a turnover of £833m in its financial results for 2023–24. 

Turnover is up 2% compared with last year. OUP revealed that 70% of turnover in its academic division came from digital products and services. 

Nigel Portwood, c.e.o. of OUP, said: “This year we have had to navigate technological, social and political change, while continuing to support and respond to shifting customer requirements. It has, at times, been challenging, but I am grateful for the continued focus and dedication of colleagues across OUP who have enabled us to achieve so much this year.” 

It refreshed the website for the Oxford English Dictionary, drafting or editing 17,000 definitions, and adding 7,500 books to the Oxford Scholarship Online archive on the Oxford Academic platform.  

The Oxford English Hub, its main online platform for teaching and learning English, saw a 300% increase in sessions recorded. New product, Digital Flow, launched to offer a fully digital way of teaching with OUP materials. 

The English Language Teaching Online Conference received more than 170,000 views, and downloads of teacher toolkits doubling year on year.