- The launch of Thinkific Communities introduces an all-new, monetizable product; creators can now build and sell collaborative learning communities that integrate seamlessly with their courses, or stand alone as powerful learning products.
- 86% of students say they get more value out of online courses with learning communities attached.
- Thinkific Communities is one in a suite of online learning products that continue to expand the company's offering and total addressable market.
VANCOUVER, BC, Sept. 27, 2022 /PRNewswire/ - Thinkific Labs Inc. ("Thinkific" or the "Company") (TSX: THNC)—the platform shaking up the knowledge economy by empowering creators to create, market and sell online learning products—announced today the launch of Thinkific Communities, an all-new learning product to supercharge how creators engage with, monetize and retain their audience.
Thinkific Communities transform a traditional one-way learning experience into a collaborative exchange. This new Thinkific product enables creators to own their community and foster relationships with their brand at the forefront. With learning communities, creators can drive engagement and generate sustainable income with diverse selling strategies including paid community memberships, bundles with courses, and upsells to exclusive, relevant content.
"We know that creators with active communities generate more income and offer more ways to learn than those without. Launching Thinkific Communities is a natural way to help our customers succeed. This is an experience that students will stay for and pay for, and it complements our existing suite of learning products," said Aron Tremble, VP of Product at Thinkific. "Communities are a powerful operating approach for the knowledge economy. We're thrilled to give our customers ways to build more successful and sustainable businesses," said Tremble.
Did you know?
- $128.47 is the average amount spent per month by people who pay for online community memberships.*
- 86% of students say they get more value out of online courses with learning communities attached.**
- 45% said that in a course/class setting, they've learned as much from their community of peers as they have from the instructor teaching them.*
"For knowledge economy creators like me, the strength of our businesses is inextricably linked to the communal learning spaces we build for our students. For me, Thinkific Communities means a more rounded and supportive space for each of my students. The collaborative environment allows students of all different learning styles to engage with and help each other, and is also a key revenue driver for my business." said Latasha James, Thinkific creator and Founder of Online Business Launch Lab.
Thinkific Communities addresses a new and untapped potential for online learning businesses. Unlike with other online communities, creators now have full ownership and control within a secure and familiar learning environment where their audience can connect and engage, all under their own brand. Furthermore, creators can directly monetize their audiences by selling or bundling community memberships. For Thinkific, this is another step to expand beyond online courses and thus its total addressable market.
For visuals, please click here.
*Thinkific partnered with survey panel provider, Centiment, to conduct a study of over 1,000 Americans 18+ to understand how they use communities online for learning and education. Centiment has completed the ESOMAR 28.
**Thinkific partnered with survey panel provider, Centiment, to conduct a study of over 2,285 individuals who have paid for an online course across the US and Canada to understand the benefits of learning communities in online education today. Centiment has completed the ESOMAR 28.
Thinkific (TSX:THNC) makes it simple for entrepreneurs and established businesses of any size to scale and generate revenue by teaching what they know. Our platform gives businesses everything they need to build, market, and sell online learning products like courses and communities, and to run their business seamlessly under their own brand, on their own site. Thinkific's 50,000 active creators earn hundreds of millions of dollars in direct course sales while teaching tens of millions of students. Thinkific is headquartered in Vancouver, Canada and has a distributed team.
For more information, please visit Thinkific.com.
This news release includes forward-looking statements and forward–looking information within the meaning of applicable securities laws ("forward-looking statements"). Often, but not always, forward–looking information can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include statements regarding the Company's launch of Thinkific Communities; the anticipated benefits of Thinkific Communities and its features for the Company's customers including the ability to engage, monetize and retain their audience; the Company's growth and growth strategies; addressable markets for its solutions; capturing market share; competitive advantage; advances in and expansion of the Compnay's offered platform service; the development and success of new products and services; expectations related to increased adoption of Thinkific's platform or Thinkific Communities as a standalone product; and expectations regarding revenue and the revenue generation potential of Thinkific's platform and other products, including Thinkific Payments, Thinkific App Store, and Thinkific Communities. Such statements and information are based on the current expectations of Thinkific's management, and are based on assumptions and subject to risks and uncertainties. Although Thinkific's management believes that the assumptions underlying these statements and information are reasonable, they may prove to be incorrect. Except as required by applicable securities laws, forward–looking statements and information speak only as of the date on which they are made and Thinkific undertakes no obligation to publicly update or revise any forward–looking statement or information, whether as a result of new information, future events or otherwise.
Forward-looking statements and information are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other companies with online learning products and some that are unique to Thinkific. Thinkific's actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them.
Thinkific's Annual Information Form to Shareholders dated February 23, 2022 and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available on SEDAR.
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