In a bid for financial survival, the Encyclopaedia Britannica
The site, which is supported through advertising, also offers current information from the Washington Post news services, and 70 magazines, as well as e-mail, weather forecasts, and financial reports.
The 231-year-old company with headquarters in Chicago has struggled financially through the last decade, according to an October 19 Associated Press report. At its peak in 1989 Britannica had $650 million in revenues and a sales force of 2,300; today its work force is down to 350 and sales have dropped precipitously.
Although Britannica was the first encyclopedia on the Web in 1994, it charged an annual $85 fee, making it out-of-place among the free information sites. Its 1994 CD-ROM venture also fizzled because it couldn’t compete with Microsoft’s multimedia Encarta.
Posted October 25, 1999.