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Scholastic Co. Anieka Sarmer

Scholastic is a public American publishing, education, and media company, which sells books, comics, and educational material. Scholastic is most known for their book fairs, as well as bringing famous titles like Harry Potter and the Hunger Games out into the world. The company focuses their products on schools, teachers, students, and parents, and has begun branching out internationally into Canada, Mexico, and several European and Asian countries. Scholastic was founded in 1920, in Wilkinsburg, Pennsylvania by Maurice R. Robinson, and is now led by CEO, Peter Warwick. Their headquarters are located in New York City, NY.

Peter Warwick: President & CEO, member of board of directors

"Peter Warwick became President and CEO of Scholastic in August 2021, making him only the third CEO in Scholastic’s 101-year history. As CEO, Peter is responsible for Scholastic’s business strategy, and oversees all business segments and corporate functions. Prior to his appointment, Peter was an independent director on Scholastic’s Board from 2014–2021—a period in which the Company dramatically expanded its reach to global audiences and educators through the move into digital platforms and the creation of a number of new and innovative partnerships. While President & CEO, he continues to serve as a member of the Board of Directors".

Iole Lucchese: Executive Vice President, Chief Strategy Officer & President of Scholastic Entertainment, & Chair of the Board

"Iole Lucchese was appointed Executive Vice President of Scholastic Corporation in 2016 and Chair of the Board of Directors in 2021, having served as Chief Strategy Officer since 2014. A 30-year veteran of the Company, she has consistently led innovative efforts to deepen connections with and better support teachers, families, young readers, and other consumers, while expanding access to Scholastic content around the world. During her career, she has worked to modernize Scholastic for the digital age, forge new and innovative partnerships, and extend the Company’s reach to diverse audiences, focusing on content development and the strengthening of the Scholastic brand in publishing and education".

Maurice Richard Robinson Jr. : Ex Owner and CEO of Scholastic Co.

Maurice Richard Robinson Jr. was the owner and CEO of Scholastic Co from 1975 until his sudden death in June of 2021. He took ownership of the company after his father, Maurice R. Robinson, who created founded Scholastic Magazines as well as the company.

Scandal followed his death after his will was released and it was announced that his family would not be inheriting any of his shares in the company or his personal affects, but rather his ex girlfriend and long time colleague, Iole Lucchese who is now Chair of the Board among many other titles.

In August of 2021, Peter Warwick took his place as Chief Executive Officer and Iole Lucchese became Chair of the Board. Neither of his two sons are involved with Scholastic in any way.

Scholastic Business Operations

Trade Publishing:

The publishing sector of Scholastic, which is in charge of making book deals with authors and marking their book as Scholastic published.

"Scholastic is the publisher of such memorable titles and series as Clifford the Big Red Dog®, Goosebumps®, The 39 Clues®, I-Spy, The Magic School Bus, and The Hunger Games; beloved, multi-generational favorites, including The Baby-sitters Club by Ann M. Martin, with more than 180 million copies in print to date; and phenomena like Captain Underpants by Dav Pilkey, which helped to create the industry’s illustrated chapter book category for kids, and has more than 90 million copies in print to date, as well as Pilkey’s Dog Man graphic novel series which has more than 26 million copies in print to date since its launch in 2016".

Scholastic Book Clubs:

The sector of the company which gives teachers access to children's books, that allow students to flourish in their reading skills.

"​​Classroom teachers in more than 90% of public and private elementary schools and early childhood directors nationwide actively use Scholastic Book Clubs to give all their students direct access to the best children’s books at affordable prices. A treasured classroom program, Scholastic Book Clubs helps teachers by providing a curated selection of top-quality, age-appropriate children’s books at great value. Students and their families are empowered to choose the books they will love to read from monthly catalogs, and teachers are rewarded with free books and resources—all delivered directly to their classrooms".

Scholastic Book Fairs:

They are in school events that bring a wide variety of books, comics, and magazines to children of varying ages. The funds from these fairs benefit Scholastic but are also partially given back to the schools for them to use to better their school environment in order for more active and engaging learning.

"Annually, Book Fairs generate more than $200 million in cash and educational resources for schools, which receive a portion of sales from every Book Fair they host. More importantly, the events offer easy access to thousands of engaging, affordable books and educational products to students and families to encourage and foster independent reading inside and outside the classroom".

Scholastic Entertainment Inc.

The media division of Scholastic. Takes characters from popular Scholastic books and creates different forms of entertainment for children, like live-action/animated series, and films. In this way children can engage more with educational material in a fun way.

"Scholastic Entertainment Inc. (SEI), partners with studios, co-production partners, and/or broadcast partners to develop family-oriented content based on books from all Scholastic houses and bring it to audiences across the globe. Among its award-winning productions are the animated series Clifford the Big Red Dog®, The Magic School Bus®, and The Magic School Bus®: Rides Again as well as the Goosebumps® film franchise and live-action series. With several feature films and live-action and animated series in development, Scholastic Entertainment continues to build celebrated children’s brands worldwide."

Scholastic Classroom Magazines:

the sector that brings real news to students, educating them world issues in a healthy manner through stories geared towards their reading levels. Maurice R. Robinson created this children's magazine along with the company.

" Scholastic Classroom Magazines publishes more than 30 titles for pre-K through grade 12, reaching more than 20 million students and teachers across the country and internationally. Scholastic News®, Junior Scholastic®, and The New York Times Upfront® (in partnership with The New York Times), deliver age-appropriate articles to help students understand the news and the world around them, while subject-specific magazines such as Storyworks®, Scholastic MATH®, and Science World® support and enrich different areas of the curriculum."

Scholastic Education:

"Provides teachers, families, and communities with the tools they need to support each and every child with print and technology-based learning programs for pre-K to grade 12, expert professional development, family and community engagement, and learning supports". "comprehensive literacy programs continue to support schools as we gain traction with Scholastic Literacy™, our core K to 6 reading program, which utilizes digital components to teach foundational skills (Scholastic F.I.R.S.T.™ and Scholastic W.O.R.D.™), while connecting children’s independent reading to the schools’ literacy goals through Scholastic Literacy Pro®."

Scholastic International:

Rather than staying national, Scholastic has extended their business to international customers, building relationships with foreign companies and schools all over the world.

"International businesses have enjoyed steady growth since the company first crossed the border to launch Scholastic Canada in 1957. Today, Scholastic has a significant presence in Australia, New Zealand, United Kingdom, China, India, South Korea, Japan, Malaysia, Thailand, the Philippines, Indonesia, and Singapore". "Scholastic publishes print and digital programs for literacy and mathematics for learners in the diverse markets that are supported globally from our office in Singapore, which serves as the education research and development hub for our international businesses."

Revenue & Sales:

Scholastic Ticker Symbol: NASDAQ: SCHL

Scholastic's net annual revenue in the year 2022 was 1.64 billion dollars. Children' s book publishing reached $946.5 million which was a 40% jump from previous years. The book fair business revenue was $429.7 million and the Trade Division got to $390.4 million , which was a 7% increase from previous years. Book club revenue fell 13%, to $126.4 million, which the company said reflected labor and systems issues that impacted Scholastic early in the fiscal year. Scholastic's Educational Solutions Group revenue increased 26%, to $393.6 million due to higher government funding and increased demand for educational materials because of the Covid Pandemic. Their International Group revenue fell 3%, to $302.8 million, due largely to closing their direct sales business in Asia partly because of Covid restrictions in China.

Scholastic Co. makes up 28.6% of the total Children's Book Publishing Industry's revenue.

Scholastic Co. Investments:

Scholastic has made 4 investments, the most recent being in 2013 in Class Messenger. They have 4 portfolio exits, their latest being with the same company they invested in, Class Messenger, which was in 2017. Scholastic has acquired 4 other companies and their most recent acquisition was of the company, Learning Ovations, just this past year of 2022. Scholastic has 10 strategic partners and customers, the most recent being in 2022 with the partnership between Scholastic and Governor's Early Literacy Foundation.

Scholastic Careers:

Editorial Assistant: The department focuses on acquiring books that tie in with children’s TV, movie, video games, and graphic novels / comic books, as well as original paperback series. The role is responsible for scheduling meetings, managing calendars, completing paperwork for deal memos, ordering books from the warehouse, running P&Ls, creating school market commitments, finalizing ISBNs, writing fact sheets, and various other entry-level administrative and editorial tasks. This position will also have the opportunity to learn about the editing process by assisting Associate Publisher and other editors on the team with manuscripts and layouts through all stages of production.

Composition Manager: Would manage in-house staff of Compositors, balancing workloads, and prioritizing work in accordance with Production schedules. Would flow manuscripts into InDesign templates based on design specifications and output PDFs based on printer specifications. Have the responsibility of addressing reprint corrections by revising existing InDesign files and outputting revised PDFs based on printer specifications.Would fulfill numerous digital asset requests by locating and retrieving files from the WoodWing Studio database, file servers, and OpenText Media Manager. Would maintain digital archives of completed products. Would create InDesign and InCopy templates based on design specifications. Would document and maintain departmental standards for digital asset management, preflighting, and templating, in concert with the Sr. Director of Production and Technology.

Social Media Content Producer (educator/consumer audience): They create engaging graphic designs on our social media channels, manage social media graphic design projects, engage with lines of business to create engaging imagery that highlight the benefits of our programs and offerings and support the content calendar creation in partnership with each line of business. They also partner with Scholastic teams who are instrumental to the experience Scholastic provides to their audiences on social media, select and manage outside specialist graphic designers, illustrators, or agencies, and utilize and maintain their tools for content management, tagging, digital asset management, and project task calendaring. They have to be well-versed and attuned to the business models, opportunities, and best practices of social media platforms and modern brands as well as help develop Scholastic’s overall social media competencies.

Sources:

“Share Black Stories.” Scholastic, https://www.scholastic.com/home/?eml=CORP%2Fps%2F20220627%2FGoogle%2Ftxtl%2FCore%7CExact%2FENT%7CBrand%7CCore%7CExact%2Fscholastic%2F48431176764%2Fe%2FMultiBUHeadline%2FScholastic+Enterprise+659-765-1234%2F&k_clickid=_kenshoo_clickid_&gclid=Cj0KCQiA8aOeBhCWARIsANRFrQG1o2pKkohLmNoA_EFepR9pC9EBJn7uK9tZo2BCY8Kl8CPJoeQZIu8aAh2sEALw_wcB.

“Scholastic Revenue 2010-2022: Schl.” Macrotrends, https://www.macrotrends.net/stocks/charts/SCHL/scholastic/revenue.

Talbot, Dean. “Dean Talbot.” WordsRated, 14 Feb. 2023, https://wordsrated.com/scholastic-statistics/#:~:text= As%20of%20FY%202022%2C%20Scholastic,on%20the%20previous%20financial%20year.&text=For%20fiscal%20years%2021%20%26%2022,and%2021.25%25%20from%20international%20sales.

“Sales, Earnings Rebounded in Fiscal 2022 at Scholastic.” PublishersWeekly.com, 22 July 2022, https://www.publishersweekly.com/pw/by-topic/industry-news/financial-reporting/article/89915-sales-earnings-rebounded-in-fiscal-2022-at-scholastic.html

“Scholastic.” CB Insights, https://www.cbinsights.com/investor/scholastic-corporation.

“About Scholastic Careers.” Scholastic Careers, https://www.scholastic.com/aboutscholastic/careers/.

“Our Businesses.” Our Businesses, https://www.scholastic.com/aboutscholastic/our-businesses/.

“Senior Management.” Senior Management, Scholastic Co, https://www.scholastic.com/aboutscholastic/senior-management/.

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Anieka Sarmer
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