by CLAIRE FIELD
They’re the content managers backing digital capability
Recent analysis by global market intelligence firm HolonIQ identified 547 universities which entered into on-line programme management or bootcamp partnerships in 2021. They contend “digital capability is arguably the number one priority for universities and colleges around the world.”
Two OPM leaders in the Australian market, SEEK and KeyPath Education, recently posted their half-yearly results to the ASX.
SEEK’s report included details on the performance of the ‘SEEK Growth Fund’ led by SEEK co-founder Andrew Bassat, which holds their EdTech and other investments. While the fund’s value continues to increase, in the last six months their EdTech investments have performed less well due in part to long-term reinvestment in their OPM, Online Education Services.
OES educates more than 17 000 students across six university partners in Australia and the UK, they are expanding into other markets and have identified that future growth will result from:
* growing the number of courses they offer in their current specialisations
* evolving their product offerings (more short courses, micro credentials and stackable degrees)
* expanding their service offerings (e.g. postgraduate, learning design solutions and managed services), and
* pursuing new partnerships and new geographies.
KeyPath Education achieved double digit compound annual growth over the last three years and in the first half of FY22 had 44 000 enrolments with 37 university partners.
They too are investing heavily in a number of their “historic partnerships”, they are expanding into Malaysia, and making systems investments. Notable from an education perspective is their growth in on-line nursing and other health courses, particularly in the last 12 months.
KeyPath’s growth strategies are similar to OES:
* growing enrolments in current programmes
* signing new university partners
* adding new programmes with existing partners
* expanding into new markets specifically Malaysia and Singapore, and
* pursuing targeted mergers and acquisitions.
The long-term investments and new partnerships OES, KeyPath Education and other OPMs are making will shape the future of higher education (and in time VET), in ways I suspect policymakers are yet to fully grasp.
Claire Field is the Australian education contributor for HolonIQ. She interviewed KeyPath’s Asia-Pacific CEO Ryan O’Hare on the latest edition of the free ‘What now? What next?’ podcast