“’It’s a rite of passage in this new era,’ Jorge Cauz, the president of Encyclopaedia Britannica Inc., a company based in Chicago, said in an interview. ‘Some people will feel sad about it and nostalgic about it. But we have a better tool now. The Web site is continuously updated, it’s much more expansive and it has multimedia.’
“Sales of the Britannica peaked in 1990, when 120,000 sets were sold in the United States. But now print encyclopedias account for less than 1 percent of the Britannica’s revenue. About 85 percent of revenue comes from selling curriculum products in subjects like math, science and the English language; 15 percent comes from subscriptions to the Web site, the company said.”
Read the full article at NY Times.