The fortunes of Online Program Management companies, or OPMs, are falling fast these days. These companies, which help colleges set up online programs and often help finance them as well in exchange for a cut of revenues, have lately seen a barrage of bad news.
Wiley posted an 8 percent drop in university partner enrollment for its OPM segment, Pearson lost its biggest OPM customer (Arizona State University) and reported falling enrollments (1 percent) and revenue (2 percent), Coursera saw a 4 percent drop in revenue and lowered full-year guidance, 2U dropped its full-year revenue guidance by 10 percent and began an across-the-board 20 percent set of layoffs, and FutureLearn reported that it may not survive another year without new investment.
