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Udemy sees 200% rise in revenue, online learning demand increases

Online learning platform, Udemy, has seen an increase in revenue of 200% year on year, as the demand for skills-based online learning increases.

Udemy offers 32,000 courses in 190 countries to date, with more than eight million students.

In the last 12 months, Udemy has seen a 140% increase in the number of online courses taken in the UK

Udemy, which launched in 2010 in the US, provides free and paid-for online courses tailored for skills-based learning in subjects including language learning, office productivity and IT and software.

“We expect the gap will continue to grow between the practical skills people need and what they learn in their school years”

Courses are created by instructors themselves, who receive all of the revenue, minus the payment fees, if they bring students to their course, or half of the revenue if students were brought in by Udemy.

The revenue increase of the platform overall has risen since last year, when it was displaying a growth of 160%.

Shannon Hughes, senior director of marketing at Udemy, said there has been an increasing need for more skills-based learning, as jobs are changer faster than traditional education systems can keep up.

“People need to continue to learn for the rest of their lives, regardless of whether or not they have a diploma or degree,” she told The PIE News.

“Because the skills people need for their jobs are changing so fast, we expect the gap will continue to grow between the practical skills people need and what they learn in their school years.”

According to DistanceLearningPortal.com, the UK showcases the highest demand for online education, accounting for 15% of the demand worldwide.

In the last 12 months, Udemy has seen a 140% increase in the number of online courses taken in the UK, as the number of courses taken in the country has reached a total of 1.3m since the platform’s launch in 2010.

830,000 courses have been taken in the UK alone in the last 12 months.

The UK is currently the platform’s third largest user base, accounting for 5% of total users. The US meanwhile, accounts for a third of the online learners, and India accounts for 9%.

Australia and Canada also have 3% of the platform’s users each.

“We are seeing people look online more and more for help”

In addition, 48% of Udemy’s course consumption – the courses taken – comes from the US, followed by the UK, accounting for 7% of the total courses taken. Canada and India also make up 5% each.

“Working adult professionals are busy with their lives and can’t take time out to go back to school, yet they often don’t get the necessary training from their employers,” said Hughes.

“We are seeing people look online more and more for help.”

In June this year, Udemy announced it had raised US$65m in a round of Series D funding to help its international growth, expanding its content library.

This brings the company’s total funding to $113m since its launch.

According to Hughes, the company’s international growth is focused on South and East Asia, Latin America and Western Europe.

Udemy offers 32,000 courses in 190 countries to date, with more than eight million students.

The top 10 Udemy instructors in the UK have made £2.2m teaching their courses.

“In a world where every job requires an increasing number of skills, Udemy has created a marketplace that can power an almost infinite number of courses to help people shape their own futures,” said CEO of Udemy, Dennis Yang.

“We believe in each individual’s limitless potential, and nothing should stand in the way of your aspirations to grow your skills.

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