Scholastic Corporation

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Scholastic
Scholastic Logo Bar
Status Public Company
Traded as NASDAQSCHL
Founded 1920
Founder Maurice R. Robinson
Country of origin USA
Headquarters location 557 Broadway
New York City, New York
Key people Richard Robinson, CEO, Chairman, & President
Publication types Books, Magazines, Educational Technology, Supplemental Educational Programs
Nonfiction topics children's literacy and education
Revenue Increase US$1,822.3 million (2014)[1]
Number of employees 9,700 (2014)[2]
Official website www.scholastic.com
Scholastic Building
Scholastic Headquarters by Matthew Bisanz.JPG
Scholastic Building (center)
General information
Status Complete
Type Headquarters of the Scholastic Corporation
Location 557 Broadway New York City, New York 10012, New York, The USA
Coordinates 40°43′27″N 73°59′54″W / 40.72417°N 73.99833°W / 40.72417; -73.99833Coordinates: 40°43′27″N 73°59′54″W / 40.72417°N 73.99833°W / 40.72417; -73.99833
Completed 2001
Owner Scholastic Corporation
Design and construction
Architect Aldo Rossi

Scholastic Corporation is an American children's publishing, education and media company, known for publishing books and educational materials for schools, teachers, parents, and children, and selling and distributing them to schools and districts, to consumers through the schools via reading clubs and fairs, and through retail stores and online. It also has the exclusive United States publishing rights to both the Harry Potter and The Hunger Games book series.[3][4] Scholastic is the world's largest publisher and distributor of children's books and a leader in educational technology and children's media.

In addition to Harry Potter and The Hunger Games, the company is known for its school book clubs and book fairs, classroom magazines [Scholastic News], and popular series including: Clifford the Big Red Dog, Goosebumps, The Magic School Bus, I Spy, as well as its educational technology programs READ 180, MATH 180 and SYSTEM 44.

History[edit]

In 1920, Maurice R. "Robbie" Robinson founded the business he named Scholastic Publishing Company in his hometown of Wilkinsburg, right outside Pittsburgh, Pennsylvania. As a publisher of youth magazines, the first publication was The Western Pennsylvania Scholastic. It covered high school sports and social activities and debuted on October 22, 1920.[5]

In 1926, Scholastic published its first book, Saplings, which was a collection of selected student writings by the winners of the Scholastic Writing Awards.

For many years the company continued its focus on serving the youth market through the relatively low cost of magazine publication. So, even with the later transition into paperback books, the company continued under the name Scholastic Magazines, Inc., through the 1970s.

After World War II, cheap paperback books became available. In 1948, Scholastic entered the school book club business with its division T.A.B., or Teen Age Book Club with classic titles priced at 25 cents.

In 1957, Scholastic established its first international subsidiary, Scholastic Canada, in Toronto; it later moved to Markham, Ontario. Along with the New York and Toronto publishing locations, the division also expanded further internationally to operate in London, Auckland, and Sydney by the 1960s.

In 1974, Richard "Dick" Robinson, the son of founder M. R. Robinson, became President of Scholastic Inc. He was named Chief Executive Officer in 1975 and Chairman in 1982, and still remains in those positions.

In the 1970s, Scholastic was well-known mainly through their Scholastic Book Clubs, now called Scholastic Reading Club, a book purchasing service delivered through schools, and their magazine publications aimed at youths: Wow (preschoolers and elementary schoolers), Dynamite (pre-teens), and Bananas (teens). Scholastic now publishes 33 classroom magazines including Scholastic News, Action, Scope, Storyworks, Super Science, Science World, Math and more, that reach 14 million readers.

In the mid-90s, Scholastic entered the educational technology market, working with Dr. Ted Hasselbring of Vanderbilt University, to create READ 180, a blended-learning, reading intervention program for students in grades 4 through 12 who are two or more grades below grade level. Since then, READ 180 has been listed in the What Works Clearinghouse and has a record of positive results in a wide range of efficacy studies with various student populations, including special education students and English language learners. Scholastic Education has since created SYSTEM 44, a technology-based phonics program for students in grades 3 through 12, iREAD, a supplemental educational technology program for grades K-2, MATH 180, mathematics intervention for middle school, and FasttMath, a technology based program to teach basic math facts.

In 1997, Scholastic (through Arthur A. Levine Books) purchased the U.S. publication rights to the first Harry Potter book, Harry Potter and the Philosopher's Stone; it was renamed Harry Potter and the Sorcerer's Stone in order to appeal to American children. It has continued publishing the Harry Potter books, all of which have been record best sellers.

Scholastic has grown its business over the years by acquiring other media companies, including K-12 Mathematics education company Math Solutions in 2012, Klutz in 2002, the animated television production company Soup2Nuts in 2001, the K–12 educational software publisher Tom Snyder Productions in 2002, and the reference publisher Grolier, which publishes the Grolier Multimedia Encyclopedia and The New Book of Knowledge in 2000 and Weston Woods Studios in 1996.In June 2000, Scholastic acquired Grolier.[6][7]

During the 2000 presidential election, Scholastic organized the Scholastic News Kids Press Corps. Today there are 32 kid reporters aged 10–14 reporting from their hometowns around the country and internationally.

In February 2012, the company acquired Weekly Reader Publishing from Reader's Digest Association, and announced in July that year that it planned to discontinue separate issues of its Weekly Reader magazines after more than a century of publication, and co-branded the magazines as "Scholastic News/Weekly Reader."[8]

The Scholastic Art & Writing Awards[edit]

Founded in 1923 by Maurice R. Robinson, The Scholastic Art & Writing Awards, administered by the Alliance for Young Artists & Writers, have encouraged over 13 million students, recognized more than 9 million young artists and writers, and made available more than $25 million in awards and scholarships. The Awards continue to be the largest source of scholarship funding for teenage artists and writers and the longest-running, most prestigious art and writing awards program in the U.S.

In the U.S.A, the process begins as young artists and writers submit creative works to the Alliance's regional affiliates. The most outstanding works of art and writing (Gold Key and Silver Key winners) from each region are forwarded to the Alliance for Young Artists & Writers in New York City to be reviewed on a national level. Panels of professional jurors select the national award recipients. The regional awards are administered by a network of nearly 100 affiliates that include school systems and school boards, nonprofit organizations, government agencies, foundations, arts agencies, businesses, libraries, museums, teacher councils and institutions of higher education that share a commitment to identifying emerging artists and writers in their communities.

The Awards recognize written and artistic works in 30 categories, including Architecture, Comic Art, Ceramics & Glass, Digital Art, Design, Drawing, Fashion, Film & Animation, Jewelry, Mixed Media, Painting, Photography, Printmaking, Sculpture, Video Games, Art Portfolio, Photography Portfolio, Dramatic Script, Humor, Journalism, Personal Essay/Memoir, Persuasive Writing, Poetry, Novel Writing, Science Fiction/Fantasy, Short Story, Short, Short Story, General Writing Portfolio, Nonfiction Portfolio, and Creativity & Citizenship.

Prior recipients of The Scholastic Art and Writing Awards including Richard Anuszkiewicz, Richard Avedon, Harry Bertoia, Mel Bochner, Truman Capote, Paul Davis[disambiguation needed], Frances Farmer, Red Grooms, Robert Indiana, Bernard Malamud, Joyce Maynard, Joyce Carol Oates, Philip Pearlstein, Peter S. Beagle, Sylvia Plath, Robert Redford, Jean Stafford, Mozelle Thompson, Ned Vizzini, Kay WalkingStick, Andy Warhol, and Charles White, all of whom won when they were in high school.[disambiguation needed].[citation needed]

Corporate divisions and imprints[edit]

  • Children’s Book Publishing and Distribution
    • Scholastic Trade Publishing
    • Scholastic Reading Club
    • Scholastic Book Fairs
  • Scholastic Classroom and Community Group (Classroom Books, Guided Reading, Classroom Magazines, Teaching Resources and F.A.C.E. - Family & Community Engagement)
  • Scholastic International
  • Media, Licensing and Advertising (Scholastic Media, Consumer & Professional Magazines, Scholastic National Partnerships)
    • Scholastic National Service Organization (Distribution center in Jefferson City, MO)
    • Scholastic.com

Trade Publishing Imprints include:

      • Arthur A. Levine Books
      • The Blue Sky Press
      • Cartwheel Books
      • The Chicken House
      • Franklin Watts
      • Graphix
      • Klutz
      • Little Shepherd
      • Michael di Capua Books
      • Orchard Books
      • Point
      • PUSH
      • Éditions Scholastic (French Canada)
      • Scholastic en español
      • Scholastic Paperbacks
      • Scholastic Press
      • Scholastic Reference

Selected list of publications[edit]

Scholastic Media[edit]

Scholastic Media is a corporate division[9] led by Deborah Forte since 1995. It covers "all forms of media and consumer products, and is comprised of four main groups – Productions, Marketing & Consumer Products, Interactive, and Audio." Weston Woods and Soup2Nuts are its two production studios,[10] acquired 1996 and 2001.

Scholastic has produced audiobooks such as the Caldecott/Newbery Collection;[11] TV serial adaptations such as Clifford the Big Red Dog, Animorphs, The Magic School Bus, and Goosebumps; and feature films such as Tuck Everlasting and The Golden Compass. It will produce the 39 Clues Movie.

Reading clubs[edit]

Scholastic reading clubs are offered at schools in many countries. Typically, teachers administer the program to the students in their own classes, but in some cases, the program is administered by a central contact for the entire school. Within Scholastic, Reading Clubs is a separate unit (compared to, e.g., Education).

Reading clubs are arranged by age/grade:

  • Honeybee – 2- to 4-year-olds
  • Firefly – Preschool
  • Seesaw – Kindergarten and Grade 1
  • Lucky – Grades 2 & 3
  • Arrow – Grades 4, 5, & 6
  • TAB – Grades 7 and up
  • Specials: other, often irregular, clubs that may be handed out to students together with the "core" clubs' flyers.

In Canada:

  • Elf – preschool
  • SeeSaw – K–1
  • Lucky – 2–3
  • Arrow – 4–6
  • TRC (Teen Reading Club) – 7+
  • Click! (software) – Pre K to 8
  • Specials – K to 6
  • Club de lecture (French) – Pre K to 8

In Australia:

  • Wombat – Preschool and Kindergarten
  • Lucky – K–2
  • Arrow – 2–4
  • Star – 5+

Scholastic also offers a host of specialty book club fliers including Club Leo (Spanish language for grades K–8), and Click (Computer games and media for all ages).

Scholastic typically offers participating schools and classrooms 1 "point" for every dollar (or local unit of currency) of products ordered. Additional points may be earned during special promotion times, such as the beginning of the school year. Points may then be redeemed for books and school supplies at a rate of approximately 20 points to the dollar. At minimum, schools earn 5% of book orders in free products. With special promotions, return rate can be higher (15–100%).

Going green[edit]

Under the guidance of the Rainforest Alliance and other environmental groups, Scholastic set a goal to have 30 percent of the publication paper it buys be Forest Stewardship Council-certified within five years. A quarter of the paper it uses also will be recycled, with 75 percent being post-consumer waste. The company's progress toward its goals are made public each year with the latest coming in 2014:

The company bought 95,000 tons of paper in fiscal year 2007. Only 4 percent of that was FSC-certified, and 11 percent contained post-consumer waste fiber.

Scholastic's new website geared toward children is called Scholastic ACT GREEN! It includes interactive features to allow children to create e-cards, "green" plans and earn "green" points.

"Our five-year goals for FSC-certified and recycled paper purchases are ambitious but achievable and important," said Maureen O'Connell,[12] Scholastic's chief financial officer and chief administrative officer.

O'Connell added that Scholastic set records with the printing of the seventh Harry Potter book, Harry Potter and the Deathly Hallows, on environmentally sound paper. The company also practices green building principles in the construction and maintenance in its headquarters and other buildings.

Scholastic Parents Media[edit]

Scholastic Parents Media'publishes Scholastic Parent & Child Magazine, the group also specializes in online advertising sales and custom programs designed for parents and children ages 0–6.[13]

Criticism[edit]

Scholastic has been criticized for inappropriately marketing to children. Also, Scholastic now requires parents to submit children's names with birth dates to place online orders, creating controversy. A significant number of titles carried have strong media tie-ins and are considered relatively short in literary and artistic merit by some critics.[14] Consumer groups have also attacked Scholastic for selling too many toys and video games to children, rather than focusing on just books. Writer Nancy Stouffer sued Rowling and Scholastic, as well as Time Warner for "stealing the Potter magic from her."[15] In July, 2005, Scholastic determined that certain leases previously accounted for as operating leases should have been accounted for as capital leases. The cumulative effect, if recorded in the current year, would be material. As a result, it decided to restate its financial statements.

See also[edit]

References[edit]

  1. ^ "Financial Statements for Scholastic Corp". Google Finance. Retrieved 2013-02-13. 
  2. ^ "Annual Report 2014" (PDF). Retrieved 2014-07-29. 
  3. ^ "Scholastic profit rises on Hunger Games sales | Reuters". reuters.com. Retrieved 18 October 2012. 
  4. ^ "J.K. Rowling launches Harry Potter book club online | Reuters". reuters.com. Retrieved 18 October 2012. 
  5. ^ "About Scholastic People And History". Scholastic.com. Retrieved 2014-03-12. 
  6. ^ "French Plan to Sell Grolier," PublishersWeekly.com, November 29, 1999
  7. ^ "Scholastic to Acquire Grolier," press release, Scholastic Inc., April 13, 2000.
  8. ^ "Scholastic to End Independent Publication of Weekly Reader - Bloomberg". bloomberg.com. Retrieved 16 November 2012. 
  9. ^ "Welcome". Scholastic Corporation: About Scholastic. Retrieved 2012-04-20.
  10. ^ "Media & The Mission". Scholastic Corporation: About Scholastic. Retrieved 2012-04-20.
  11. ^ "Weston Woods Caldecott/Newbery Collection." English language teaching: listening practice. Scholastic Corporation. Retrieved 2012-04-20.
  12. ^ "Maureen O'Connell - Senior Management - Scholastic Inc.". Retrieved 28 September 2014. 
  13. ^ "Parent & Child Magazine". Scholastic.com. Retrieved 2014-03-12. 
  14. ^ "''Boston Globe''". Boston.com. 2006-11-20. Retrieved 2014-03-12. 
  15. ^ "'Harry Potter' Book Lawsuit: 'Legend of Rah and Muggles' Author Claims Trademark Violations". July 5, 2000. Retrieved Jun 17, 2013. 

External links[edit]