- Coursera is shifting away from a pay-by-the-course model towards a monthly subscription plan to encourage "binge learning," Financial Times reports.
- An initial pilot of the program found a 250% increase in course completion. The company's chief product officer, who came to Coursera from Netflix, told Financial Times, "We’re not introducing a new payment model so much as a new psychological model," saying learners are financially motivated to complete more courses faster.
- The new payment model will apply to any specialization area that includes six to eight courses on one subject. Prices will range from $39-$89 per month — previously, learners paid between $19-$99 per course.
This new subscription model for online learning could be a game-changer in online education. By financially incentivizing course completion, Coursera will likely boost the number of learners enrolling and completing programs in their courses and could be one step closer to realizing the original vision of MOOCS, once seen as poised to revolutionize the higher education industry. With an increasing emphasis on microcredentialing and badging as the way forward for higher education, this new move could position Coursera as a leader in that sector.
For traditional institutions, there may be opportunities to partner with Coursera around online content delivery to supplement their own course offerings and provide additional credentials to students already enrolled or looking to enroll around a particular specialty.