Cambridge hits £1 billion revenue for first time

Cambridge University Press & Assessment’s 2022-23 Annual Report, published today, shows that the organisation has hit £1 billion in revenue for the first time - up from £868m last year. Another significant milestone announced is that Cambridge University Press & Assessment now reaches over 100 million learners worldwide.

Highlights of research impact and activity captured in the Annual Report include that:

• More than 114 million Cambridge research papers, book chapters and scholarly materials were downloaded;
• More than 50 percent of new Cambridge research articles now published open access; and
• The Cambridge Open Equity Initiative was launched, waiving fees for academics in more than 100 low and middle income countries to publish research open access.

The growth in impact comes two years after Cambridge University Press merged with Cambridge Assessment, which were two separate departments of the University of Cambridge. Cambridge University Press & Assessment remains a wholly-owned University department, with profits being reinvested into the organisation’s educational mission. 

Peter Phillips, Chief Executive of Cambridge University Press & Assessment, said: “This year, our revenue reached £1 billion for the first time. More importantly, we also reached 100 million learners worldwide. Both of these achievements reflect the extraordinary impact that we are having through our work, whether it’s with teachers, learners or researchers. 

Professor Deborah Prentice, Vice-Chancellor of the University of Cambridge, said: “The Press & Assessment’s extraordinary reach and expertise – now extending to 100 million learners worldwide – underpin its importance to our University. But its impact extends beyond the sphere of higher education.

"For many people around the globe, Cambridge is known for opening doors to English language learners through IELTS or Linguaskill, for sparking new interests among IGCSE students, and for offering scholars and general readers new insights through Cambridge University Press publications.The Press & Assessment makes a significant financial contribution to our University, for which I am profoundly grateful. We reinvest every penny into our shared mission.”