The average price of a college textbook is $153
Some of the most expensive textbooks in the world:
Ethics in Business and Economics: $550
History of Early Film: $740
Acta Philosophorum: The First Journal of Philosophy: $1,450
The average college student at a public university spends $5,000 on textbooks over 4 years.
At some schools, up to 30% of students must choose between textbooks or food.
Price breakdown of average $153 textbook:
Author royalties: $17.90
Production costs: $49.27
Marketing costs: $23.56
Cost of shipping the book to the bookstore: $1.53
Bookstore costs: about $27
Bookstore profit: about $6
Publisher profit: $27.54
Publisher profit is 18% of the price of the book.
Profit margins in other industries:
Auto companies: 6%
Cattle farmers: 2%
Beverage manufacturers: 0.8%
The most promising cost-saving innovations include:
Shipping books to students directly from the manufacturer
Implementing cost-saving design standards
Using digital technologies to streamline production
With innovations like these, the average price of top-quality textbooks can be brought as low as $29.95.