Brian Napack, President & CEO of Wiley, discusses the ways COVID-19 and remote learning is impacting growth, and talks about how Wiley is capitalizing from the trends seen in their corporate clients. 

Opening Bell

Publishing Company Wiley Posts Better-Than-Expected Q3 Earnings, Revenue Tops $515.9 Million

joining me now is brian nay Peck President and Ceo of Wiley brian glad to have you on this morning. Can you just tell us a little bit about Wiley's growth of the last quarter and what publishing or demands of published peer reviewed research actually looks like going into the rest of this year. Absolutely. Well thank you for having me um look over the last two centuries while he's transformed itself from an academic publisher into a global leader in science and in education, particularly career connected education. What's driving the world now is we've just gone through one of the most unusual periods in anyone's history and during that period we've realized that what we invest in as a world, not just the country but as the world is two things we invest when we want to move forward, we want to come out of bad times. We invest in scientific research and we invest in career connected education and that's what we're seeing now. So if you look back over the last couple of years, what you'll see is on a compound annual growth rate. We're in the mid to high single digits on the basic demand for education and the basic demand for scientific research, which for industries that have been around a long time is pretty impressive. We're seeing this continue and accelerate in the period going forward as we come out of this again extremely unusual period we've been in. I am curious and with that how how is learning remotely and kind of lower college enrollment, you know, impacting the expansion of Wiley's academic and professional learning offerings. Just because, as you noted, and we said a moment ago, educational services has been a part of the growth that that Wiley has seen. Yeah, well you're right that there is um that there is a somewhat lower enrollment, um and that does translate into performance at some level. But what Wylie does is enable the types of education that the world wants right now, The world wants outcome oriented education that's connected to careers. The world wants faster education. It wants career connected education, it wants education that is cheaper. And when we go digital and this is the secret to the after covid question. When we go digital, as we were forced to do during covid, what we realized is that digital education and career connected education is better. It's faster and it's cheaper. So while the ecosystem may be facing some challenges, those of us who are focused on the things that the world wants, we want to help people get jobs, we want to do it faster. We want to do it cheaper. We want to give them the skills they need to succeed in a long term career, those sorts of institutions and those sorts of credentials and the providers and the service providers supporting that are going to do very well. So let's talk about those opportunities. What opportunities do you see for growth? Continued growth, perhaps accelerated growth in the near term? Well, we're most certainly seeing a continued acceleration of the drive toward digital education and on the research side, which is a significant part of what Wylie does. What we see is the global investment and reinvestment in basic research, translating in directly into the demand for publishing, publishing services and increasingly as widely provides the infrastructure that supports the entire industry. So that ecosystem, which is what we are passionately dedicated to the knowledge and learning ecosystem is being invested in very heavily and we are a core player in enabling uh that ecosystem. Well brian, I'm gonna have to leave it there Unfortunately, we're coming up against the top of the hour but didn't want to say congratulations on 215 years for Wiley celebrating that of course this year brian nay pac. President and Ceo of Wiley.