Encyclopedia Britannica vs Wikipedia: Comparison of Business Models
In March 2012, 244 years after it was first published, the Encyclopedia Britannica officially announced it would scrap its print edition in the face of plummeting sales. Statista takes a look at the economics of Wikipedia and Britannica through the infographic below. Following are some key highlights:Infographic Via
- Sales of Encyclopedia Britannica's print edition have dropped from 120,000 in 1990 to 40,000 in 1996 and 8,000 since 2009.
- While 2010 version of 15th edition of Encyclopedia Britannica, since its release in June 2009 has sold 8000 sets and generated $11 Million in revenue, Wikimedia foundation has collected more than $60 million in contributions since then.
- Encyclopedia Britannica currently generates 15% of its revenue from online subscriptions and only 1% from print