Louise Rogers, CEO of TES Global, shared that the next version of TES Resources will enable teachers to charge for their uploaded content. According to the letter posted on the company’s website, the TES Resources community has grown to over 5.9 million members from across the globe and some of its contributors asked for an option to be rewarded for their content.
With a catalog of over one million classroom resources and downloads of more than 4.5 million every week, TES Resources is one of the largest resource sites for teachers on the internet. The main problem of resource sites is that only a tiny fraction actually creates content, the vast majority just consumes. In her letter Rogers thanks “the thousands” who have shared their classroom material for free on TES Resources. Hence even if we talked about tens of thousands we were in the 1% range or below.
These creators are the key asset for TES Resources, therefore it is vital to keep them happy and away from moving to greener meadows like Teachers pay Teachers. Founded in 2006, TpT just recently raised an undisclosed venture round from Spectrum Equity, Tiger Global and True Ventures.
Before raising the round TpT made headlines with sharing numbers on their highest earning teachers selling material worth between $20.000 to $2 million. The site also seems to have a much healthier ratio of creators to consumers with 40.000 teachers being active sellers and 800.000 buyers.
Teachers pay Teachers proved that there is a business opportunity in paid resources and the Sydney Morning Herald just shared some pretty interesting stats out of New South Wales. Teachers had average out of pocket expenses of $1500 to $1900 AUD in 2013, $985 AUD for classroom supplies and educational materials.
To tap into this growing market through its own rapidly growing global community of educators makes sense for TES, 20.000 new members join every week according to Rogers. It might be difficult to convert the entirety of the community to a paid model, though. On the other hand, TES wants to leave it up to the creators whether they want to charge for their newly uploaded material or not so and all existing content on the platform will remain free.
Although there is no mention of a monetization strategy, we can assume that it will eventually look similar to the TpT model with the company taking a cut for every transaction made through its platform. TpT takes a 30% cut from each lesson plan sold which reduces to 15% when a teacher opts for the premium plan that costs $59.95 per year.
- A letter from Louise Rogers, CEO, TES Global | tes connect
- NSW teachers $2000 out of pocket on school resources | The Sydney Morning Herald
- HEDLINE: Teachers Pay Teachers raises from Spectrum Equity, Tiger Global and True Ventures | EDUKWEST