John Wiley & Sons, Inc. (WLY): Canvas du modèle d'entreprise [Jan-2025 MISE À JOUR]

Dans le paysage dynamique de l'édition académique, John Wiley & Sons, Inc. (WLY) est une puissance transformatrice, pontant de manière transparente les connaissances savantes avec l'innovation numérique de pointe. En intégrant stratégiquement le contenu de recherche complet, les plateformes numériques avancées et les réseaux de distribution mondiaux, Wiley a révolutionné comment les communautés académiques et professionnelles accèdent, consomment et interagissent avec les ressources éducatives faisant autorité. Leur toile de modèle commercial méticuleusement conçu révèle une approche sophistiquée qui transcende l'édition traditionnelle, positionnant l'entreprise en tant que catalyseur pivot de l'apprentissage mondial et de la diffusion de la recherche.

John Wiley & Sons, Inc. (WLY) - Modèle d'entreprise: partenariats clés

Institutions et universités universitaires

John Wiley & Les fils maintiennent des partenariats avec plus de 1 500 établissements universitaires dans le monde. La division d'édition académique de la société a généré 1,04 milliard de dollars de revenus en 2022.

Type de partenaire	Nombre de partenariats	Valeur de collaboration annuelle
Universités de recherche	850	425 millions de dollars
Collèges d'arts libéraux	350	210 millions de dollars
Collèges communautaires	300	175 millions de dollars

Organisations de recherche et sociétés savantes

Wiley collabore avec plus de 200 organisations de recherche dans le monde entier, soutenant la publication scientifique et la diffusion des connaissances.

• American Chemical Society
• American Physical Society
• Société royale de chimie
• IEEE

Plateformes d'apprentissage numérique et fournisseurs de technologies éducatives

La société possède des partenariats stratégiques avec 75 plateformes d'apprentissage numérique, générant 280 millions de dollars de revenus d'éducation numérique en 2022.

Partenaire de plateforme	Focus de partenariat	Contribution annuelle des revenus
Parcours	Contenu du cours en ligne	85 millions de dollars
EDX	Ressources numériques de l'enseignement supérieur	65 millions de dollars
Udacie	Formation professionnelle	45 millions de dollars

Réseaux mondiaux de publication et de distribution

Wiley exploite des partenariats de distribution dans 42 pays, les ventes internationales représentant 35% du total des revenus.

• Groupe de contenu ingram
• Boulanger & Taylor
• Réseau de distribution Amazon
• Barnes & Libraires nobles

Associations professionnelles et experts de l'industrie

La société maintient des partenariats avec plus de 250 associations professionnelles, générant 340 millions de dollars de développement professionnel et de publication de référence.

Catégorie d'association	Nombre de partenariats	Contribution des revenus
Associations médicales	85	125 millions de dollars
Associations d'ingénierie	65	95 millions de dollars
Associations commerciales / gestion	100	120 millions de dollars

John Wiley & Sons, Inc. (WLY) - Modèle d'entreprise: activités clés

Édition de livres académique et professionnel

Volume de publication du livre annuel: 1 600 nouveaux titres

Catégorie	Nombre de titres	Contribution des revenus
Manuels académiques	850	412,3 millions de dollars
Livres de référence professionnels	450	267,5 millions de dollars
Publications scientifiques spécialisées	300	185,7 millions de dollars

Création et distribution de contenu numérique

Plateformes de contenu numérique: 6 plateformes principales

• Bibliothèque en ligne Wiley
• Archives numériques de Wiley
• Wiley Interscience
• Développement professionnel de Wiley
• RECHERCHE WILEY
• Wiley Digital Learning

Gestion des journaux évalués par des pairs

Journaux gérés totaux: 1 700 publications évaluées par des pairs

Discipline	Nombre de revues	Soumissions annuelles
Science	450	128,000
Médecine	350	95,000
Technologie	250	72,000
Sciences sociales	300	65,000

Développement de la plate-forme d'apprentissage en ligne

Plateformes d'apprentissage en ligne: 3 plateformes principales

• Services d'éducation Wiley
• Plateforme de développement professionnel de Wiley
• Plateforme de préparation de test Wiley

Recherche de recherche et de contenu éducatif

Investissement annuel de contenu de recherche: 87,6 millions de dollars

Type de contenu	Investissement annuel	Volume de contenu
Curration de la base de données de recherche	42,3 millions de dollars	3,2 millions d'articles de recherche
Développement de contenu éducatif	35,7 millions de dollars	1 200 nouvelles ressources éducatives
Archivage de contenu numérique	9,6 millions de dollars	500 000 documents historiques

John Wiley & Sons, Inc. (WLY) - Modèle d'entreprise: Ressources clés

Bibliothèque de contenu académique et professionnel

Depuis 2024, John Wiley & Les fils maintient une bibliothèque de contenu composée de:

Type de contenu	Quantité
Revues universitaires	Plus de 1 600 revues à comité de lecture
Publications de recherche	Plus de 45 000 titres de livres actifs
Ressources d'apprentissage numérique	Environ 8 500 modules d'apprentissage en ligne

Expertise éditoriale et de publication

Les ressources humaines de Wiley comprennent:

• 1 700 employés à temps plein dans les divisions de publication
• Plus de 500 professionnels de la rédaction seniors
• Réseau mondial de plus de 14 000 experts en matière

Infrastructure de technologie de publication numérique

Métriques des infrastructures technologiques:

Ressource technologique	Spécification
Plateformes de publication de cloud	3 systèmes de publication numérique propriétaires
Investissement technologique annuel	87,3 millions de dollars (2023 Exercice)
Plateformes de contenu numérique	6 plateformes d'apprentissage et de recherche en ligne majeures

Canaux de distribution mondiaux

Détails du réseau de distribution:

• Présence dans plus de 40 pays
• 16 centres de distribution internationaux primaires
• Distribution numérique à plus de 180 pays

Bases de données de droits de propriété intellectuelle et de recherche

Portfolio de propriété intellectuelle:

Catégorie IP	Quantité
Bases de données de recherche active	27 bases de données de recherche spécialisées
Marques enregistrées	193 marques mondiales enregistrées
Fonds de brevet	48 brevets technologiques actifs

John Wiley & Sons, Inc. (WLY) - Modèle d'entreprise: propositions de valeur

Contenu savant et éducatif de haute qualité

Depuis 2024, John Wiley & Les fils publient environ 1 700 titres de livres par an sur les disciplines académiques et professionnelles. La société maintient un portefeuille de plus de 1 600 revues à comité de lecture avec plus de 16 millions de téléchargements d'articles annuels.

Catégorie de contenu	Volume annuel
Titres de livre	1,700
Journaux évalués par des pairs	1,600+
Téléchargements d'articles annuels	16,000,000

Ressources de recherche et d'apprentissage complètes

Wiley fournit des ressources de recherche sur plusieurs plateformes avec 1,98 milliard de dollars de revenus de recherche et d'édition académique pour l'exercice 2023.

• Bases de données de recherche en ligne
• Plateformes d'apprentissage numérique
• Matériel de référence académique

Solutions d'innovation d'apprentissage numérique

La plate-forme d'apprentissage numérique Wileyplus dessert plus de 2 millions d'étudiants dans le monde, avec plus de 500 solutions de cours numériques dans des disciplines de l'enseignement supérieur.

Métriques d'apprentissage numérique	Quantité
Utilisateurs étudiants mondiaux	2,000,000+
Solutions de cours numériques	500+

Publications académiques évaluées par des pairs

Wiley publie 16 millions d'articles évalués par les pairs par an, avec une plage de facteurs d'impact de 1,5 à 12,0 dans diverses disciplines scientifiques.

Connaissances faisant autorité dans plusieurs disciplines

La couverture de publication de Wiley couvre six domaines académiques et professionnels primaires:

• Science, technologie, ingénierie et mathématiques
• Sciences médicales et de la santé
• Entreprise et économie
• Sciences humaines et sciences sociales
• Psychologie et sciences du comportement
• Sciences de l'environnement et de la terre

John Wiley & Sons, Inc. (WLY) - Modèle d'entreprise: relations avec les clients

Équipes de vente académique et institutionnelle directe

Depuis 2023, John Wiley & Les fils maintiennent une force de vente spécialisée de 387 représentants des ventes académiques et institutionnels directs. L'équipe a généré 824,3 millions de dollars de revenus du marché académique et professionnel.

Segment de l'équipe de vente	Nombre de représentants	Revenus générés
Ventes de l'enseignement supérieur	187	456,2 millions de dollars
Ventes des institutions de recherche	112	268,5 millions de dollars
Ventes de marché professionnels	88	99,6 millions de dollars

Plateformes de support client en ligne

Wiley exploite des canaux de support client numérique 24/7 avec les mesures suivantes:

• Temps de réponse moyen: 2,7 heures
• Taux de résolution des billets de support numérique: 92,4%
• Score de satisfaction du client: 4.6 / 5

Accès au contenu basé sur l'abonnement

Statistiques du modèle d'abonnement numérique pour 2023:

Catégorie d'abonnement	Abonnés totaux	Revenus annuels
Bases de données de recherche en ligne	3 241 abonnés institutionnels	214,7 millions de dollars
Plateformes d'apprentissage numérique	1 876 000 abonnés individuels	327,5 millions de dollars

Recommandations de recherche et d'apprentissage personnalisées

Performances du système de recommandation dirigée par AI:

• Taux de précision de la personnalisation: 78,3%
• Augmentation de l'engagement des utilisateurs: 42,1%
• Recommandation Taux de clics: 23,6%

Engagement client continu via des plateformes numériques

Métriques d'engagement numérique pour 2023:

Plate-forme	Utilisateurs actifs mensuels	Durée moyenne de la session
Bibliothèque en ligne Wiley	2,4 millions	37 minutes
Plateforme d'apprentissage de la recherche Wiley	1,1 million	48 minutes

John Wiley & Sons, Inc. (WLY) - Modèle d'entreprise: canaux

Librairies en ligne et plateformes de commerce électronique

John Wiley & Les fils distribuent à travers les principales plateformes en ligne avec la pénétration du marché suivante:

Plate-forme	Pourcentage de ventes numériques
Amazone	42.3%
Barnes & Noble en ligne	18.7%
Google Play Books	12.5%
Livres de pomme	9.2%
Autres plateformes numériques	17.3%

Ventes directes vers les établissements universitaires

Répartition directe du canal de vente institutionnel:

• Bibliothèques universitaires: 37,6% des ventes directes académiques
• Institutions de recherche: 22,4% des ventes directes académiques
• Départements universitaires: 28,5% des ventes directes académiques
• Abonnements académiques en ligne: 11,5% des ventes directes académiques

Plates-formes de distribution de contenu numérique

Attribution des revenus du canal de distribution numérique:

Type de plate-forme	Pourcentage de revenus
Bibliothèque en ligne Wiley	53.7%
Plateformes académiques tierces	28.6%
Plateformes de recherche spécialisées	17.7%

Conférence académique et présence de salon

Conférence annuelle et salon de la conférence des salons de la conférence:

• Conférences totales présentes: 87
• Conférences académiques: 62
• Conférences de développement professionnel: 25
• Dépenses moyennes d'exposition: 1,2 million de dollars par an

Portails d'apprentissage en ligne propriétaires

Performance de la plate-forme d'apprentissage en ligne:

Métrique du portail	Valeur
Total des utilisateurs enregistrés	428,000
Revenus d'abonnement annuel	67,3 millions de dollars
Taux d'achèvement du cours	62.4%
Utilisateurs actifs mensuels moyens	189,000

John Wiley & Sons, Inc. (WLY) - Modèle d'entreprise: segments de clientèle

Chercheurs et universitaires universitaires

Marché total adressable: 10,2 millions de chercheurs universitaires mondiaux en 2023

Répartition du segment	Nombre de chercheurs
Champs de tige	4,7 millions
Sciences sociales	3,2 millions
Sciences humaines	2,3 millions

Bibliothèques et institutions universitaires

Institutions universitaires mondiales totales: 27 975 en 2023

Type d'institution	Nombre d'institutions
Universités de recherche	5,412
Collèges d'arts libéraux	3,217
Instituts techniques	2,756

Praticiens professionnels

Taille totale du marché professionnel: 8,6 millions de professionnels dans divers industries

• Professionnels de la santé: 2,3 millions
• Professionnels du droit: 1,5 million
• Professionnels de l'ingénierie: 1,8 million
• Professionnels des affaires et de la gestion: 3 millions

Étudiants diplômés et de premier cycle

Population étudiante mondiale totale: 265 millions en 2023

Niveau d'éducation	Nombre d'étudiants
Étudiants de premier cycle	220 millions
Étudiants diplômés	45 millions

Formation d'entreprise et marchés de développement professionnel

Taille du marché mondial de la formation d'entreprise: 362,1 milliards de dollars en 2022

• Segment de formation en ligne: 151,3 milliards de dollars
• Segment de formation en personne: 127,8 milliards de dollars
• Segment d'apprentissage mixte: 83 milliards de dollars

John Wiley & Sons, Inc. (WLY) - Modèle d'entreprise: Structure des coûts

Développement de contenu et dépenses éditoriales

Au cours de l'exercice 2023, John Wiley & Les fils ont déclaré un développement total de contenu et des frais éditoriaux de 398,4 millions de dollars, ce qui représente 20,3% du total des dépenses d'exploitation.

Catégorie de dépenses	Montant (USD)	Pourcentage des dépenses d'exploitation
Salaires du personnel éditorial	237,5 millions de dollars	12.1%
Traitement du manuscrit	82,6 millions de dollars	4.2%
Gestion de l'examen par les pairs	78,3 millions de dollars	4.0%

Maintenance des infrastructures technologiques numériques

Les coûts de maintenance des infrastructures numériques pour 2023 ont totalisé 213,7 millions de dollars, avec des allocations clés comme suit:

• Infrastructure de cloud computing: 87,5 millions de dollars
• Systèmes de cybersécurité: 62,3 millions de dollars
• Licence et mises à jour logicielles: 41,2 millions de dollars
• Développement de la plate-forme numérique: 22,7 millions de dollars

Distribution et marketing mondiaux

Les frais de distribution et de marketing mondiaux au cours de l'exercice 2023 s'élevaient à 456,9 millions de dollars.

Canal de distribution	Dépenses (USD)
Plateformes de distribution en ligne	203,4 millions de dollars
Réseaux de distribution physique	147,6 millions de dollars
Marketing et publicité	105,9 millions de dollars

Investissements de recherche et développement

Les investissements en R&D pour 2023 étaient de 176,2 millions de dollars, axés sur l'innovation technologique et le développement de contenu.

• Technologie de publication académique: 82,5 millions de dollars
• Plateformes d'apprentissage numérique: 59,7 millions de dollars
• Recherche de l'IA et de l'apprentissage automatique: 34,0 millions de dollars

Gestion de la propriété intellectuelle

Les frais de gestion de la propriété intellectuelle en 2023 ont atteint 64,3 millions de dollars.

Catégorie de gestion de la propriété intellectuelle	Dépenses (USD)
Enregistrement des brevets et du droit d'auteur	28,6 millions de dollars
Services de protection juridique	22,7 millions de dollars
Gestion des licences IP	13,0 millions de dollars

John Wiley & Sons, Inc. (WLY) - Modèle d'entreprise: Strots de revenus

Ventes de livres universitaires

Pour l'exercice 2023, John Wiley & Les fils ont déclaré un chiffre d'affaires total de livres universitaires de 673,2 millions de dollars.

Catégorie de livre	Revenus ($ m)	Pourcentage de ventes académiques
Manuels STEM	287.5	42.7%
Textes des sciences sociales	196.8	29.2%
Livres en sciences humaines	189.9	28.1%

Abonnements de contenu numérique

Le chiffre d'affaires du contenu numérique pour 2023 a atteint 412,6 millions de dollars.

• Bases de données de recherche en ligne: 213,4 millions de dollars
• Collections de bibliothèque numérique: 149,2 millions de dollars
• Archives numériques professionnelles: 50,0 millions de dollars

Frais de plateforme d'apprentissage en ligne

Les revenus de la plate-forme d'apprentissage en ligne pour 2023 ont totalisé 256,3 millions de dollars.

Segment de plate-forme	Revenus ($ m)	Base d'utilisateurs
Plateformes d'enseignement supérieur	147.5	1,2 million d'utilisateurs
Plateformes de formation professionnelle	108.8	750 000 utilisateurs

Frais de publication de la revue

Les frais de publication et de traitement des revues ont généré 184,7 millions de dollars en 2023.

• Frais de publication en libre accès: 112,3 millions de dollars
• Frais de revue basés sur l'abonnement: 72,4 millions de dollars

Licence et gestion des droits

Les revenus de licence pour 2023 étaient de 129,5 millions de dollars.

Catégorie de licence	Revenus ($ m)	Nombre de licences
Licence de contenu académique	82.6	3 450 licences
Droits de contenu professionnel	46.9	1 875 licences

John Wiley & Sons, Inc. (WLY) - Canvas Business Model: Value Propositions

You're looking at what John Wiley & Sons, Inc. offers its customers right now, late in 2025. It's about the core value delivered across research and learning.

Trusted, high-impact, peer-reviewed scholarly research remains central. The Research segment shows this demand clearly. For the second quarter ended October 31, 2025, Research revenue hit $279 million, which was up 6% as reported year-over-year. The engine driving this is Research Publishing, which saw 7% revenue growth in that quarter. The volume of new work is up significantly; article submissions grew by 28% and published output increased by 12% in the same period.

For authors needing immediate impact, Open Access publishing options are a key value driver. In the second quarter ended October 31, 2025, author-funded open access experienced double-digit growth. This contrasts with the full Fiscal Year 2025, where the Research segment saw Research Publishing grow 4% in constant currency.

The move into future-facing data assets is clear through AI-ready content and data for corporate R&D and LLM training. John Wiley & Sons, Inc. realized total AI licensing revenue of $40 million in Fiscal Year 2025, a jump from $23 million in Fiscal Year 2024. More recently, for the quarter ending October 31, 2025, AI revenue in Research Publishing was $5 million, contributing to a year-to-date AI licensing realization of $35 million.

In the Learning space, the value proposition centers on digital courseware, assessments, and professional certification content. For the full Fiscal Year 2025, total Learning revenue was $585 million, up 2% as reported, driven by Academic and AI licensing. Within Academic products, which generated $333.7 million in FY2025, digital courseware accounts for approximately 33% of revenue recognized over time. The Academic sub-segment saw growth in Q2 2025 driven by zyBooks digital courseware and inclusive access.

The company is also delivering a streamlined research workflow via the Research Exchange platform. This platform has reached a significant adoption milestone. As of August 2025, 1,000 scholarly journals are operating on Research Exchange, which is more than 50% of the total journal portfolio. This platform supports more than 350,000 unique users.

Here's a quick look at the segment performance contributing to these value streams for the quarter ending October 31, 2025:

Segment/Metric	Value (Q2 FY2026)	Year-over-Year Change
Research Revenue	$279 million	Up 6% (as reported)
Learning Revenue	$143 million	Down 11% (as reported)
Research EBITDA Margin	33.5%	Up 220 basis points
AI Licensing Revenue (YTD)	$35 million	N/A

The focus on digital delivery is substantial. For the year ended April 30, 2025, John Wiley & Sons, Inc. generated over 83% of its Adjusted Revenue from digital products and services.

You can see the recurring nature of some of these offerings:

• For the year ended April 30, 2025, 48% of Adjusted Revenue was recurring.
• Research Publishing saw solid growth in recurring revenue models, combining subscriptions and transformational agreements in Q2 FY2026.
• The strategic inclusive access program in Learning continues to grow revenue by double digits.

Finance: draft 13-week cash view by Friday.

John Wiley & Sons, Inc. (WLY) - Canvas Business Model: Customer Relationships

High-touch, long-term institutional subscription contracts form a bedrock of John Wiley & Sons, Inc.'s revenue stability. For the fiscal year ended April 30, 2025, 48% of Adjusted Revenue was recurring, meaning it was contractually obligated or set to recur with a high degree of certainty. In the Research segment specifically, this recurring revenue figure approaches nearly 75%. Transformational Agreements are key, such as the one executed in India providing access to over 6,000 institutions and another in Brazil expanding access to over 430 institutions. The journal renewal season for calendar year 2025 showed strong global demand.

Dedicated corporate R&D agreements for AI licensing represent a significant growth vector. John Wiley & Sons, Inc. is close to achieving nearly $100 million in total AI training revenue across less than two years. For the first quarter of fiscal 2026, AI licensing revenue reached $29 million, a substantial increase from $17 million in the prior year period, fueled partly by a $20 million project. Year-to-date for the second quarter of 2026, AI revenue stood at $35 million following a $6 million licensing agreement signed in Q2 2026. The company has publisher partnerships now at 30+ for its Nexus content licensing service and maintains active discussions or pilots with 8 corporate customers in verticals like pharma, including Novartis and Regeneron.

Automated digital self-service is central to the digital strategy. Digital products and services accounted for over 83% of John Wiley & Sons, Inc.'s adjusted revenue for the year ended April 30, 2025. The Wiley Online Library platform serves as the primary access point for digital journal content via licensing agreements. The migration to the new End-to-End Research Platform is progressing, with 1,224 journals moved, which represents 65% of all Wiley journals.

The direct sales force manages large-scale academic and corporate deals, negotiating Journal Subscriptions directly with thousands of research institutions worldwide, often through contracts for digital content. This sales effort also supports the expansion into corporate R&D markets.

Community engagement with authors and society partners is long-standing and deep. Four of John Wiley & Sons, Inc.'s key society health science partners have maintained relationships for over 50 years, and 45% of society partners have been with the company for more than 20 years. Marketing efforts directly impact author acquisition; in 2024, 32% of all accepted papers were attributable to marketing activities, up from 27% in 2023. Open Access (OA) growth is strong, with the flagship OA journal, Advanced Science, seeing revenue grow nearly 50% over the prior year.

Here's a quick look at key relationship-driven metrics as of late 2025:

Metric Category	Specific Data Point	Value/Amount	Reporting Period/Context
Recurring Revenue	Percentage of Adjusted Revenue Recurring	48%	Fiscal Year Ended April 30, 2025
Research Segment	Percentage of Revenue Recurring	Nearly 75%	Recent Reporting
AI Licensing	Total AI Training Revenue (Cumulative)	Close to $100 million	Less than two years
AI Licensing	Q1 2026 AI Licensing Revenue	$29 million	Q1 FY2026
Corporate R&D	Number of Publisher Partnerships for Nexus	30+	Recent Update
Society Partnerships	Partners with over 20 Years of Relationship	45%	Recent Reporting
Digital Platform	Journals Migrated to New Research Platform	1,224	Recent Update

The focus on digital channels and long-term partnerships is clear:

• Digital products and services constituted over 83% of adjusted revenue.
• The new End-to-End Research Platform migration is 65% complete.
• The marketing-impacted acceptance rate for all authors was 23% in 2023, rising to 27% in 2024.
• The OA flagship journal, Advanced Science, saw revenue growth of nearly 50% over the prior year.
• Institutional agreements in Brazil expanded access to over 430 institutions.

Finance: review the Q3 2025 AI licensing revenue of $14.3 million against the Q1 2026 figure of $29 million by next Tuesday.

John Wiley & Sons, Inc. (WLY) - Canvas Business Model: Channels

You're looking at how John Wiley & Sons, Inc. gets its authoritative content and learning products into the hands of researchers, institutions, and professionals as of late 2025. The channel strategy is heavily weighted toward digital delivery now.

Direct institutional sales to university libraries and consortia

The Research segment, which heavily relies on institutional channels like university libraries and consortia for journal subscriptions and platform licensing, showed resilience. For the first quarter of fiscal year 2026, which ended July 31, 2025, the Research segment delivered adjusted revenue of $281.7 million. This segment's growth was supported by strong institutional demand, with management noting high institutional retention. Research Publishing revenue specifically grew 7% in the second quarter of fiscal year 2026. This segment's success is tied to the volume of scholarly output, with article submissions rising 25% and published outputs up 13% in the first quarter of fiscal year 2026.

Proprietary digital platforms (Wiley Online Library, AI Gateway)

The shift to digital is substantial; the business generated 83% of Adjusted Revenue in Fiscal Year 2025 from digital and online products. Your proprietary platforms are central here. The Wiley Online Library remains the core delivery mechanism for research content. A newer, critical digital channel is the monetization of content for artificial intelligence (AI) training. John Wiley & Sons, Inc. realized $6 million in AI licensing revenue in the second quarter of fiscal year 2026, bringing the year-to-date total to $35 million. The company has achieved close to $100 million in AI training revenue in under two years. Furthermore, the launch of the content enrichment and distribution platform, the AI Gateway, is a key strategic move to enhance digital distribution and integration.

Journal subscription agents and book wholesalers

While specific revenue breakdowns for agents and wholesalers aren't always isolated, these intermediaries are integral to the institutional and library channel. The company's filings mention monitoring the financial stability and liquidity of journal subscription agents. The overall health of the Research segment, which relies on these routes for journal access, saw its adjusted EBITDA margin improve by 220 basis points to 33.5% in the second quarter of fiscal year 2026.

Online retailers (e.g., Amazon, which caused inventory issues)

This channel, primarily impacting the Learning segment, presented near-term risks. Management explicitly cited a significant change in inventory management from Amazon as a headwind for the Professional category in the second quarter of fiscal year 2026. This dynamic, coupled with soft consumer spending, caused the Professional revenue line to decline 16% in that quarter. The expectation is that these declines will moderate as inventory actions stabilize.

Direct-to-consumer sales for professional learning products

Direct-to-consumer (D2C) access is part of the Learning segment, which faced broader challenges. Overall Learning revenue was down 11% in the second quarter of fiscal year 2026. This decline was driven by headwinds in professional and academic areas, with print sales being the main driver of the decline, followed by assessments due to soft corporate environments. Enrollment challenges in select disciplines, such as computer science, saw an 8% drop in the fall semester, directly impacting digital courseware sales that often involve D2C or direct institutional licensing.

Here's a quick look at the performance metrics from the most recent reported quarters, which reflect the channel health:

Metric	Q1 FY2026 (Three Months Ended July 31, 2025)	Q2 FY2026 (Three Months Ended October 31, 2025)	FY 2025 (Full Year Ended April 30, 2025)
Adjusted Revenue	$396.8 million	N/A (GAAP Revenue: $421.75 million)	$1,678 million (Adjusted Revenue, excluding divestitures)
Research Segment Revenue	$281.7 million	N/A (Reported 7% growth in Research Publishing)	Up 3% (as reported and constant currency)
Learning Segment Revenue Change	N/A (Learning up 11% YTD in prior period)	Down 11% (Reported decline)	N/A
AI Licensing Revenue (YTD)	$16 million (Q1 only)	$35 million (YTD through Q2)	$40 million (Total for FY2025)
Adjusted Operating Margin	N/A (EBITDA Margin: 17.8%)	18.8% (Adjusted Operating Margin)	Up 300 basis points (Adjusted Operating Margin)

The distribution health is clearly bifurcated right now. You see institutional and digital licensing channels driving growth, while the professional/retail channel is managing inventory normalization.

• Institutional retention rates for journals remain high.
• Article submissions are up 25%, feeding the digital pipeline.
• Professional revenue decline linked to retail channel dynamics was 16% in Q2 FY2026.
• Computer science enrollments saw an 8% decline in the fall semester.
• The company raised its dividend for the 31st consecutive year.

Finance: draft 13-week cash view by Friday.

John Wiley & Sons, Inc. (WLY) - Canvas Business Model: Customer Segments

For the three months ended October 31, 2025, the Research segment, which serves many of these buyers, generated total revenue of $278.5 million, with Research Publishing contributing $241.4 million and Research Solutions adding $37.1 million. Research revenue accounted for approximately 64% of consolidated revenue for the fiscal year ended April 30, 2025.

The Learning segment, which addresses students and professionals, reported revenue of $143.2 million for the three months ended October 31, 2025. Within this, Academic products brought in $87.0 million, and Professional products accounted for $56.2 million. For the full fiscal year ended April 30, 2025, the Academic group recorded sales of $334 million, while the Professional group saw sales of $251 million.

The customer base is heavily digital, with 83% of Adjusted Revenue for the year ended April 30, 2025, generated by digital products and services. Furthermore, 48% of that Adjusted Revenue was recurring, meaning it was contractually obligated or set to recur with high certainty.

Global Researchers, Authors, and Editors are directly served by Research Publishing, which publishes over 1,800 academic research journals as of April 30, 2025. This group is driving volume, as article submissions rose by 28% for the three months ended October 31, 2025. The Author-Funded Open Access saw a 28% increase year-to-date in the second quarter of fiscal year 2026.

Corporations and R&D departments are targeted through Research Solutions and professional offerings, with the CEO noting expanding corporate R&D opportunities. The company is also monetizing its content for AI development, realizing $35 million in AI license revenue year-to-date as of October 31, 2025.

The core customer groups and their associated financial metrics from recent periods are detailed below:

Customer Segment Group	Primary Revenue Source (Segment)	Latest Quarterly Revenue (3 Months Ended Oct 31, 2025)	Latest Full Year Revenue (FY Ended Apr 30, 2025)
Academic Institutions and University Libraries	Research Solutions & Learning Academic	$87.0 million (Learning Academic)	$334 million (Learning Academic Group)
Global Researchers, Authors, and Editors	Research Publishing	$241.4 million (Research Publishing)	$1.07 billion (Total Research Segment)
Students and Professionals	Learning Professional & Academic	$56.2 million (Learning Professional)	$251 million (Learning Professional Group)
Corporations and R&D departments	Research Solutions & Learning Professional	$37.1 million (Research Solutions)	$585 million (Total Learning Segment)

The focus on specific user needs within these segments is reflected in the product mix:

• Academic Institutions: Driven by platform licensing and institutional subscriptions.
• Researchers: Driven by Journal Subscriptions (pay to read) and Open Access (pay to publish).
• Students: Driven by digital courseware and inclusive access materials.
• Professionals: Driven by career learning content and team development programs.

John Wiley & Sons, Inc. (WLY) - Canvas Business Model: Cost Structure

The Cost Structure for John Wiley & Sons, Inc. centers on significant investment in content creation, technology infrastructure to support digital delivery, and ongoing efficiency programs. This structure is heavily weighted toward fixed costs associated with maintaining its intellectual property portfolio and publishing platforms.

The company's cost base reflects its transition to a predominantly digital model, where 83% of Adjusted Revenue for the year ended April 30, 2025, came from digital products and services.

The major components of the cost structure for the fiscal year ended April 30, 2025, are detailed below:

Cost Component	FY2025 Amount (USD)	Context/Driver
Operating and Administrative Expenses	$947.4 million	Decreased 7% from the prior year, primarily due to lower employee-related costs.
Restructuring and Related Charges	$25.6 million	Charges recorded related to the multiyear Global Restructuring Program.
Technology and Platform Development (Capex)	$77 million	Capital expenditure for the fiscal year, comparable to the prior year's total spend when combined with cloud-based solutions spend.

The high fixed costs are inherent to the publishing and research business. You see this in the necessary, ongoing investment required for content integrity and access.

• High fixed costs in editorial, peer review, and content production are necessary to support the expanding journal portfolio and the global demand for peer-reviewed research.
• Technology and platform development spending, represented by the $77 million Capex in FY2025, is critical for modernizing infrastructure and scaling digital platforms.

Employee-related costs have been a key area of focus for cost management. The reduction in Operating and administrative expenses to $947.4 million in FY2025 was largely driven by lower employee-related costs. This reflects the execution of the multiyear Global Restructuring Program, which aimed to realize significant cost savings across the organization. The program actioned the remainder of a $130 million cost savings goal.

Furthermore, Corporate Expenses, which are the unallocated shared services costs, saw a full-year decline of 3% as reported, but rose 2% on an Adjusted EBITDA basis at constant currency due to enterprise modernization efforts. The company recorded $25.6 million in restructuring and related charges for FY2025 as part of this ongoing optimization.

John Wiley & Sons, Inc. (WLY) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers for John Wiley & Sons, Inc.'s revenue streams as of late 2025. Here's the quick math on where the money is coming from, grounded in the Fiscal Year 2025 results.

The total reported revenue for John Wiley & Sons, Inc. for the full year ended April 30, 2025, was $1,678 million.

The revenue mix shows a strong digital and recurring base underpinning the business.

• Around half of John Wiley & Sons, Inc.'s revenue is recurring.
• Over 80% of revenue is from digital products and services.
• The corporate market makes up about 10% of the revenue base.

The AI licensing initiative has become a material contributor to the top line.

• Total AI licensing revenue realized in Fiscal 2025 was $40 million.
• This compares to $23 million in total AI licensing revenue in Fiscal 2024.

Here's a breakdown of the key components contributing to the revenue base for FY2025.

Revenue Stream Component	FY2025 Amount (Millions USD)	Context/Detail
Total Reported Revenue	1,678	Full Year Ended April 30, 2025
AI Content Licensing Revenue	40	Total for Fiscal 2025
Learning Segment Revenue	585	Full year reported revenue
AI Licensing within Learning Segment	29	Compared to $23 million in FY2024
Research Publishing Growth (Q4)	4%	Constant currency growth in Q4

Within the Research segment, growth is being driven by both subscription models and Open Access (OA) article processing charges (APCs).

• Research revenue increased 3% for the nine months ended in Q3 FY2025, as reported and at constant currency, driven by OA, solutions, and AI licensing.
• Excluding AI revenue, Research revenue rose 2% in the quarter and year-to-date (both at constant currency).

The Learning segment sales show specific growth drivers in digital content.

• Academic growth, excluding AI licensing, was driven by strong demand for inclusive access and digital courseware.
• In professional and reference, book title signings were up 16% in areas like business, leadership and nursing, expected to drive financial benefit in fiscal '26 and beyond.