Palm Beach, FL –November 3, 2021 – FinancialNewsMedia.com News Commentary The recent rise in the digital education market is due in large part to the rapid adoption of internet-enabled devices. The demand for digital education content is being fueled by factors such as increasing mobile device penetration and increased demand for personalized learning. The education industry has witnessed a paradigm shift from conventional learning to personalized and interactive learning in recent years. As digitization continues to penetrate the education industry, the latest technologies and new and creative techniques are being used to deliver knowledge and educational content, thereby transforming learning and development into a lifelong process. Looking forward to the future, digital education is predicted to benefit several beneficiaries across various geographies, demographics, ages, and socioeconomic conditions. A report from Grand View Research said that the global digital education market size is expected to reach USD 77.23 billion by 2028. The market is anticipated to register a CAGR of 30.5% from 2021 to 2028. Also driving the preference for digital education content is the increase of mobile cellular subscriptions, which enable customers to access digital content on their smartphones and tablets whenever they want. Educational institutions are also adopting digital education content products from market vendors to offer tailor-made content that is integrated with the conventional curriculum. Furthermore, technological advancements like virtual classrooms provide lucrative growth opportunities in the near future for the companies that are presently offering online learning services. Active Companies in the markets today include Grom Social Enterprises, Inc. (NASDAQ: GROM), Strategic Education, Inc. (NASDAQ: STRA), Stride, Inc. (NYSE: LRN), Graham Holdings Company (NYSE: GHC), Bright Scholar Education Holdings Limited (NYSE: BEDU).
Grand View added: “Digital education has changed the way people are pursuing learning. The interactive, flexible, high-quality, and collaborative learning facilitated by online learning platforms is particularly stimulating the growth of digital learning… Educational institutes have adopted digital learning to improve the efficiency of various processes, such as tracking students, reducing operational costs, and enhancing safety and security while providing information tools for teachers, administration staff, students, and researchers. Progressive educational institutions are looking forward to adopting the latest technology to transform the learning environment and merge the physical and virtual world to derive better student outcomes.”
Grom Social Enterprises, Inc. (NASDAQ: GROM) BREAKING NEWS: Grom Social Unveils New Program To Connect Schools, Teachers, Classrooms and Students While Promoting Digital Safety For Kids – Grom Social Enterprises, Inc., a social media platform and original content provider of entertainment for kids, today unveiled new features in the Grom Social media app that allow schools, teachers, classrooms, and students to connect in a safe forum overseen by educators. Now, classrooms can use the Grom Social media app as a valuable educational tool designed to promote the benefits of kids being safe and responsible while on social media, or anywhere in today’s digital landscape. The new features were announced today by Darren Marks, Grom’s Chairman and Chief Executive Officer.
The new program represents the company’s latest foray into the classroom to keep kids safe online. The sign-up process is easy. Teachers and other school officials at elementary or middle schools simply need to contact Grom at email@example.com from a school-issued email for authentication and to participate. Students who opt-in must gain parental consent to join the program. Educators everywhere can now provide internet safety instruction for kids in a safe, COPPA-compliant, and fully monitored social media app designed exclusively for kids under the age of 13. The new feature expands on the offerings from one of Grom Social’s subsidiary brands, Grom Educational Services, which provides NetSpective web filtering solutions for K-12 schools, government, and private businesses nationwide.
Once approved by Grom Social, schools and teachers may create their own secure pages for posting announcements, events, updates, and other news, which will be shared only with students at that school. Teachers can also create an account page where they will be able to post assignments, updates, and chat in real-time outside of the classroom. Teachers will also be able to monitor their students’ progress to complete Grom’s proprietary Digital Citizenship License course (DCL), which teaches kids the dos and don’ts of being a responsible digital citizen.
“Internet safety for kids is very much a growing concern and priority for today’s families and educators alike,” said Marks. “By offering new features through Grom Social that complement in-classroom learning, practical school-led safety instruction, and a Digital Citizenship licensing course, we can help prepare the next generation of digital citizens for a lifetime of responsible and safe digital experiences.”
Grom recently announced several new in-app safety features that give parents of Grom Social users complete control over their kids’ personal identifiable information (PII) and greater ability to monitor their child’s activity while posting, sharing, and chatting with other kids on the app. CONTINUED… For more information about Grom Social Enterprises please visit https://gromsocial.com/
Other recent developments in the markets include:
Strategic Education, Inc. (NASDAQ: STRA) recently announced that it will host a conference call to discuss its third quarter results on Thursday, November 4, 2021 at 10:00 a.m. ET. A news release outlining the results will be issued before the market opens the same day.
To participate in the live call on November 4, investors should dial (877) 303-9047 ten minutes prior to the start time. In addition, the call will be available via webcast. To access the live webcast of the conference call, please go to www.strategiceducation.com in the Investor Relations section 15 minutes prior to the start time of the call to register. Following the call, the webcast will be archived and available at www.strategiceducation.com in the Investor Relations section.
First Quarter Fiscal 2022 Highlights Compared to 2021 Were: Revenue of $400.2 million, compared with $371.0 million, driven by improved revenue per enrollment, strong middle and high school Career Learning enrollments, and growth in Adult Learning; Loss from operations of $7.0 million, compared with income from operations of $12.1 million, due to the return to normal seasonality in upfront school year expenses; Net loss of $5.9 million, compared with net income of $12.7 million; Diluted net loss per share of $0.15, compared with diluted net income per share of $0.30; Adjusted operating income of $4.5 million, compared with $23.0 million. (1); Adjusted EBITDA of $25.5 million, compared with $39.2 million.
Graham Media Group, Inc., a Graham Holdings Company (NYSE: GHC) subsidiary, recently announced that Terri Cope-Walton has been named Vice President and General Manager of WJXT, a fully local television station, and WCWJ, the CW affiliate, in Jacksonville, Florida. Cope-Walton replaces Bob Ellis, who was named Vice President and General Manager of Graham Media Group station WDIV in Detroit, Michigan earlier this year.
Emily Barr, President and Chief Executive Officer of Graham Media Group, said “Terri is fiercely committed to localism and deeply strategic in her approach to leading multi-platform community focused media. She brings a wealth of experience, intelligence and compassion to these two successful stations and will enthusiastically immerse herself in the Jacksonville community. We are thrilled to welcome Terri to Graham Media Group.”
Bright Scholar Education Holdings Limited (NYSE: BEDU), a global premier education service company, recently announced that, on July 24, 2021, China’sofficial state media, including Xinhua News Agency and China Central Television, announced the Opinions on Further Alleviating the Burden of Homework and After-School Tutoring for Students in Compulsory Education (the “Opinion”), issued by the General Office of the CPC Central Committee and the General Office of the State Council. The Opinion contains high-level policy directives about requirements and restrictions related to after-school tutoring services for students from grade 1 through grade 9 in China. The Opinion may also be interpreted in a manner that will be applied to after-school tutoring for grades from 10 through 12.
Bright Scholar has very limited exposure to after-school tutoring from grade 1 through grade 9, and we currently do not expect that the abovementioned Opinion will have a material impact on our business.
Bright Scholar’s key growth engines are built upon a diversified portfolio of businesses. Our complementary business focuses on all-round education services, including overseas study counselling, study tours and camps. Our ed-tech business focuses mainly on online careers counselling, online academic Olympiad training, and online international schools for high school students or above. In addition to domestic businesses (including K-12 schools), our overseas business, currently rebranded as CATS Global School, covers independent and international boarding schools, an Arts University, English language training institutions, and a variety of summer programs which serve students from over 100 nationalities in 16 locations across the United Kingdom, the United States, Canada and China.
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