I might be reading into the previous poster's comment more than originally intended, but basically, most US textbooks, are basically written for use by US public schools. They are effectively being paid for by public money, because the only customer buying those textbooks are public schools funded by public money.
> For the years ended March 31, 2020 and 2019, K-12 traditional print represented 59% ($353 million) and 63% ($357 million) of total K-12 revenue, respectively.
> In the K-12 market in the United States,...We sell our learning solutions directly to school districts across the United States.
This is less true at the university level, since students typically have to pay for their own textbooks, but scholarships, grants, and loans, and other public money sources that go to students are used to cover those costs.
> For the years ended March 31, 2020 and 2019, K-12 traditional print represented 59% ($353 million) and 63% ($357 million) of total K-12 revenue, respectively.
> In the K-12 market in the United States,...We sell our learning solutions directly to school districts across the United States.
This is less true at the university level, since students typically have to pay for their own textbooks, but scholarships, grants, and loans, and other public money sources that go to students are used to cover those costs.
Source: McGraw Hill's 2020 Annual Report https://www.annualreports.com/HostedData/AnnualReports/PDF/N...