S&P 600 Component
|Industry||Children's literacy and education|
|Founded||October 22, 1920|
Wilkinsburg, Pennsylvania, US
|Successor||Scholastic Inc. (1981–2011)|
Number of locations
|New York City, New York, US|
|Peter Warwick, CEO, president; Kenneth Cleary, CFO|
|Products||Books, Magazines, pre-K to grade 12 instructional programs, classroom magazines, films, television|
|Revenue||US$1.6 billion (2016)|
Number of employees
|Divisions||Imprints and corporate divisions|
Scholastic Corporation is an American multinational publishing, education and media company that publishes and distributes comics, books and educational materials for schools, parents, and children. Products are distributed via retail and online sales and through schools via reading clubs and book fairs. Clifford the Big Red Dog, a character created by Norman Bridwell in 1963, serves as the company's official mascot.
Scholastic was founded in 1920 by Maurice R. Robinson near Pittsburgh, Pennsylvania, to be a publisher of youth magazines. The first publication was The Western Pennsylvania Scholastic. It covered high school sports and social activities; the four-page magazine debuted on October 22, 1920 and was distributed in 50 high schools. In the 1940s, Scholastic entered the book club business. In the 1960s, international publishing locations were added in England (1964), New Zealand (1964), and Sydney (1968). Also in the 1960s, Scholastic entered the book publishing business. In the 1970s, Scholastic created its TV entertainment division.
From 1975 until his death in 2021, Richard Robinson, who was the son of the corporation's founder, served as CEO and president.
In 2000, Scholastic purchased Grolier for US$400 million.
In February 2012, Scholastic bought Weekly Reader Publishing from Reader's Digest Association, and announced in July that year that it planned to discontinue separate issues of Weekly Reader magazines after more than a century of publication, and co-branded the magazines as Scholastic News/Weekly Reader.
The business has three segments: Children Book Publishing & Distribution (Trade, Book Clubs and Book Fairs), Education, and International. Scholastic holds the perpetual US publishing rights to the Harry Potter and Hunger Games book series. Scholastic is the world's largest publisher and distributor of children's books and print and digital educational materials for pre-K to grade 12. In addition to Harry Potter and The Hunger Games, the company is known for its school book clubs and book fairs, classroom magazines such as Scholastic News and Science World, and popular book series: Clifford the Big Red Dog, Goosebumps, The Magic School Bus, Captain Underpants, Animorphs, The Baby-Sitters Club, and I Spy. Scholastic also publishes instructional reading and writing programs, and offers professional learning and consultancy services for school improvement. Clifford the Big Red Dog serves as the official mascot of Scholastic.
Founded in 1923 by Maurice R. Robinson, The Scholastic Art & Writing Awards, administered by the Alliance for Young Artists & Writers, is a competition which recognizes talented young artists and writers from across the United States. In March 2018, author James Patterson announced an increase in his annual donations for classroom libraries from $1.75 million to $2 million, in a program run in conjunction with the Scholastic Book Clubs. Patterson is also distributing 4,000 gifts of $500 each to teachers around the country.
"Omnibus Books" redirects here. For the independent publisher, see Omnibus Press.
Trade Publishing Imprints include:
Children's Press (spelled as Childrens Press until 1996). Founded in 1945 and originally based in Chicago, Illinois, this press published various publications such as the Rookie Read-About series, A True Book series, Young People's series (Young People's Animal Encyclopedia, Young People's Science Encyclopedia and Young People's Science Dictionary, with the last two being prepared in cooperation with the National College of Education (NCE) based in Evanston, Illinois) and also has a secondary imprint, Franklin Watts. In 1995, Children's Press became a division of Grolier, which became an imprint of Scholastic Corporation in 2000.
In 2005, Scholastic developed FASTT Math with Tom Snyder to help students with their proficiency with math skills, specifically being multiplication, division, addition, and subtraction through a series of games and memorization quizzes gauging the student's progress.
Scholastic Media is a corporate division led by Deborah Forte since 1995. It covers "all forms of media and consumer products, and is comprised of four main groups – Productions, Marketing & Consumer Products, Interactive, and Audio." Weston Woods is its production studio, acquired in 1996, as was Soup2Nuts from 2001–2015 before shutting down. Scholastic has produced audiobooks such as the Caldecott/Newbery Collection; Television adaptations such as Clifford the Big Red Dog, Animorphs, The Magic School Bus, Goosebumps, His Dark Materials and Puppy Place; and feature films such as The Indian in the Cupboard, Tuck Everlasting, Clifford's Really Big Movie, Goosebumps, The Golden Compass, Captain Underpants: The First Epic Movie, Goosebumps 2: Haunted Halloween and Mortal Engines. It will produce two new feature films Clifford the Big Red Dog and The Bad Guys, and for Pixar Animation Studios Down and Dug as Scholastic Media produced the series Voyagers!, My Secret Identity, and Charles in Charge.
Scholastic book clubs are offered at schools in many countries. Typically, teachers administer the program to the students in their own classes, but in some cases, the program is administered by a central contact for the entire school. Within Scholastic, Reading Clubs is a separate unit (compared to, e.g., Education). Reading clubs are arranged by age/grade. Book club operators receive "Classroom Funds" redeemable only for Scholastic Corporation products.
Scholastic Parents Media publishes the Scholastic Parent & Child magazine. The group also specializes in online advertising sales and custom programs designed for parents with children aged 0–6.
In July 2005, Scholastic determined that certain leases previously accounted for as operating leases should have been accounted for as capital leases. The cumulative effect, if recorded in the current year, would be material. As a result, it decided to restate its financial statements.
Scholastic has been criticized for inappropriately marketing to children, creating controversy. A significant number of titles carried have strong media tie-ins and are considered short in literary and artistic merit by some critics.
Where can classroom funds be spent? Classroom Funds can be spent online only at Scholastic Book Clubs (clubs.scholastic.com)