The financial difficulties faced by some of the original massive open online course (Mooc) providers show the “bubble may have burst” on the rapid expansion of the education technology sector in the face of increased competition and a harsher economic climate, according to commentators.
FutureLearn has announced plans to “significantly reduce expenditure” following losses of £13.2 million in 2019-20, while the Open University – which has invested in the company since its inception in 2012 – has announced plans to sell its 50 per cent stake.
Neil Mosley, a digital education consultant, said the proliferation of online courses and platforms in recent years has cut Moocs’ enrolments from the thousands to the hundreds, with many of the big players seeing reduced financial returns as a result.
