This transcript is automatically generated
Mississippi River -- -- How we're gonna shift gears here a little bit talk about e-book specifically.
Made an announcement about the sale of its education business out two billion dollars and in doing so it cited the high costs.
Of textbooks compared ebooks is one of the main recent sell our next guest launching a new program today that maybe the future of this business are so he helps ensure it's called -- back.
And from my campus book rentals dot com the CEO Alan Martin is here.
Talk a little bit about that could see out.
About red back in what it is just a second but this this whole idea this -- -- that was pretty big news what McGraw-Hill was doing but this this trend is your friend now.
In the book world isn't well still surprise you books continue to failed to deliver value to students I -- the moment that ebooks are valuable professor should adopt them and students should buy them but it continued to fail to deliver but I residents watch that.
But Lebanon let's take an example student who buys a digital product in the class of two identical students each pay seventy dollars from their contents one of them by the content digitally -- the other -- -- -- physically in the form of the used book.
At the end of the class the person who has the digital content in hand has no resell value no residual value job market might disappear -- sounds like you're giving me a sales -- you because I know little.
A thing or two about what you're good launching today it is rent tax system is what it it aims basically to get rid of that problem that's right the student that owns the physical book now has the opportunity to send them booked us -- continue to -- -- the book to us.
Who were read that book out the students across the nation 1234.
Times and give them the profit each and every time school student who -- the digital products.
Is left with nothing.
The student who bought the physical product still owns the physical book and could have eighty or ninety or a hundred dollars in their bank account.
The value differential is huge so they can read about how many times -- to have -- -- -- -- -- and held until the book is no longer useful because you want to -- -- three years absolutely there's not gonna last forever and other back to the earlier point about what McGraw-Hill stealing and selling off its business thing.
Tough competition out there with.
These physical textbooks go away don't they are might just crazy.
We are believers in value again at the at the point in time where a digital is able to deliver the same value if not more than physical books it should come and we are believers and valuing distributing value to students that's when you look just for now try to do that we'll do this for now look at our five and a half years history watch rental five and -- -- -- -- -- very misunderstood the time we'll bring in value to students.
Three years ago we took rental into that.
Brick and mortar colleges were the first people do that bringing guide to student should continue to adapt to usually try to get out ahead of an example we focus on the student I think many people say look we're gonna professors and industry and they're they're mistaken they need to look at the student the student is the customer what's gonna bring value to the student -- where -- widely -- that that seems like they should be able to mean shouldn't.
Take forever to do that what we agree look I founded this company as a college student I believe -- -- at the values of student were students want to be treated fairly they want and they won't what's right for them.
And I think these big corporations keep missing -- there out of touch with the college market its interest thing it's good conversation and non.
And that's a new make a lot of but -- mark good luck with everything -- -- thanks for coming in could be here our goal.