UK Higher Education OPM Market: A review of trends, developments, and key players
The diminished value of government-regulated undergraduate tuition fees due to years of inflation, combined with a decline in international student recruitment for on-campus programmes, is significantly disrupting UK higher education. The effects are visible daily in institutional decision-making, media coverage, sector commentary, and government speeches and policy interventions.
If the income from your core audience (undergraduate degree students) is shrinking, and the audience that subsidises it (international on-campus students) is also in decline and increasingly volatile, this creates a very challenging situation. This predicament is accelerating universities' efforts to diversify their income streams rather than relying solely on on-campus UK and international students.
This explains the significant rise in UK universities seeking to enter the online education market, primarily by developing online master’s degrees. While diversification is a logical response to the current landscape, many institutions are entering an online master’s market that is far more competitive than it was a decade ago.
This route is perhaps best exemplified by Brown University in the US, who faced with a $46 million deficit, recently announced a move into the online masters market, with hopes to grow its number of online students to 2,000 in five years.
UK universities have been making similar moves in recent years, though not all have been prompted by financial deficits of that scale. The fundamental question they must ask is whether they have the capability to successfully deliver a largely unfamiliar mode of education and to reach and support a different type of audience.
In most cases, the answer is that universities currently lack the full range of capabilities and experience needed to succeed in this space. An increasingly important aspect of this challenge is not just whether they can operate online programmes effectively but whether they have the ability to compete in an increasingly competitive market.
This presents universities with a dilemma. Should they, or more crucially can they, make a substantial upfront investment to build in-house capabilities. Or should they seek partnerships with one of the many online education companies that support universities. Many continue to opt for the latter.
Over the years, I have analysed online programme management (OPM) companies and their partnerships with UK universities, tracking the dynamics of this evolving market. It is a contested and sometimes opaque space, meaning the debate around these companies and their partnerships with universities often lacks nuance and has, at times, been shaped by misinformation from within higher education itself.
One constant in this space over the past two decades has been universities’ general lack of the necessary capabilities to successfully deliver online programmes and compete in this market. Outside of dedicated online distance learning providers, offering online programmes and serving the audiences they attract runs counter to the traditional operations of most universities.
The more dynamic aspect of this space is the companies themselves. This dynamism has been driven by mergers and acquisitions, new market entrants, evolving business models, the prospect of increased regulatory oversight, shifts in the global financial environment, and, in some cases, ill-judged strategic decisions.
With a growing number of universities entering or considering online education as part of their diversification strategy, now is a timely moment to reflect on the current state of the OPM market and the key players operating in UK higher education.
How many OPMs are partnering with UK universities?
One of the challenges in determining the number of companies partnering with UK universities to manage online courses and programmes is that the market is not made up of entirely uniform types of companies.
Currently, more than twenty different companies are partnered with UK universities to support their online education activities, including subsidiary companies. However, there is diversity within this group, with some companies specialising in particular niches, such as specific course types, subject areas, or student markets.
For the purposes of this analysis, I will focus on companies that primarily manage a portfolio of online degrees for a university, typically under a longer-term agreement and providing a range of services. This means that the review will not cover the full spectrum of companies and partnerships that support UK universities’ online education efforts.
Classifying companies is becoming increasingly difficult, but I have identified nine that fit my criteria and that I consider the main OPM players in UK higher education. Perhaps controversially for some, this does not include Coursera.
Although several UK universities do partner with Coursera for online degrees, in most cases, the partnership covers a single degree rather than a portfolio. For that reason, and given Coursera’s recent announcement that it expects a decline in revenue from its degrees segment as it shifts focus to Coursera for Campus—at least in the near term—I have excluded them.
The nine companies included in my market analysis are Higher Ed Partners, Boundless Learning, 2U, CEG Digital, Risepoint, Kaplan Open Learning, FutureLearn, OES, and Skilled Education.
The rise and challenges of OPM partnerships in UK higher education
If we discount the partnerships UK universities established with what were then the MOOC platform companies, FutureLearn, Coursera, and edX in the early 2010s, the majority of partnerships between UK universities and OPMs or other online education companies have been initiated over the past decade.
From 2018 onwards, multiple partnerships have been established each year between UK universities and the main OPM players. Between 2018 and 2024, an average of nearly five new UK university–OPM partnerships have been formed annually.
Given the number of UK universities currently seeking OPM partners or in the process of establishing these relationships, I would not bet against a similar number of new partnerships being established in 2025. In fact, one new partnership has already been announced this year.
It is important to note, however, that not all of these partnerships remain in place. In particular, 2023 and 2024 have seen a high number of partnerships come to an end. By my calculations, ten partnerships were terminated over these two years.
The key question is: why? This is especially important because, as Phil Hill recently observed, this is an area where people frequently conflate desired narratives with reality.
For those who view private sector involvement, particularly that of EdTech and online learning companies in higher education through a Manichean lens, these figures can be used as evidence that more universities have had the scales removed from their eyes and now are seeking to go forth into the light of bringing it all in-house.
Meanwhile, in the real world, the situation is far more nuanced. Certainly, some partnerships have ended due to university dissatisfaction, but the reasons behind partnership cessations can often be attributable to both parties. In some instances, universities have struggled to engage effectively with commercially focused online education companies, leading to significant challenges in establishing and maintaining an effective partnership.
Some would like to promote the idea that more universities are ending OPM relationships because they have realised they do not need an OPM or that bringing everything in-house is a superior approach. However, I see no clear evidence that this is the primary or exclusive reason for the partnerships that have ended in recent years.
The biggest factor has been company turmoil. The companies that have experienced acquisitions or financial difficulties have lost the most partners. In some cases, it has been the company, not the university, that has initiated the termination of a partnership because it was simply not delivering, with the university itself playing a role in that outcome.
I have not seen enough evidence of UK universities ending partnerships to independently develop their own online education operations and portfolios at a scale that would suggest a trend of universities dropping OPMs to go it alone. My challenge to anyone who claims otherwise is: show me the proof.
Certainly, all these companies face the challenge of keeping their university partners satisfied in an increasingly competitive market, and there are examples of underperformance among some. However, when considering this, it is also worth remembering that there are numerous costly and unsuccessful examples of universities attempting to develop online education operations in-house.
OPM market share in UK higher education
Based on my research, the current market share of OPM-style partnership contracts in UK higher education among the companies I have included is as follows.
Due to rounding, percentages may not sum to exactly 100%.
This covers just over 30 active partnerships with UK universities. It’s worth noting that this analysis is based on my assessment of the partnerships I have evidence of, within my definition of what falls within scope. While it may not be 100% precise, and some may debate the categorisation or scope, I am confident that, in broad terms, it reflects the current share of the market. Of course, this is a snapshot in time, partnerships are constantly forming, evolving, and ending, so the picture could shift in the short term.
With that context in mind, it’s worth exploring recent developments and the current standing of these companies.
Higher Ed Partners
Higher Ed Partners has been the most successful OPM in UK higher education in terms of the number of partnerships established. The company has well over ten partnerships, the highest number of any OPM currently operating in the UK. According to my most recent analysis, it now supports over 150 online degree titles across its partners.
While securing that number of partnerships is a notable achievement, the challenge now is retaining them. As far as I am aware, the company has yet to lose a UK university partner, but a more competitive marketplace will inevitably put pressure on all partnerships. Inevitably, companies with a larger number of partners to manage face a greater challenge overall.
Although the majority of the company’s partnerships focus on online postgraduate degrees, there have been signs of a broadening scope. In 2024, it launched a suite of microcredentials in partnership with St Mary’s University, and it will be worth watching whether this expansion of product scope continues over the next 12 months.
Boundless Learning
Boundless Learning is the company formerly known as Pearson Online Learning Services (POLS), which was sold by Pearson to private equity firm Regent in 2023. Since then, it has undergone a rebrand alongside significant staff and leadership turnover. It feels as though only in the past six months has the company begun to establish a more stable footing for moving forward.
Unsurprisingly, the company’s recent trajectory has caused turbulence, which has been felt by its UK university partners. This period has also coincided with a small number of partnerships coming to an end. The immediate challenge for this new iteration is to reinvigorate partnerships that have been affected by such significant changes. In an increasingly competitive environment, this will not be easy. Given that most of its UK university partnerships are now several years old, it is hard not to envisage a future in which, if the company does not establish new partnerships, it will have to contend with a smaller number of UK university partners.
2U
2U is one of the most high-profile OPM companies, if not the most. This reputation is built primarily on its standing and growth in the US. However, in recent years, publicity has focused on what has been something of a fall from grace. The ill-fated $800 million purchase of edX contributed to a decline that led to multiple rounds of layoffs, the departure of long-term CEO Chip Paucek, persistent declines in student enrolments in its degree programme segment, a plummeting share price, and key US university partners ending their partnerships with the company. Ultimately, this downward spiral culminated in the company entering a form of bankruptcy. However, the story does not end there. 2U has since exited bankruptcy and is now on somewhat firmer financial footing as a result. The company has appointed a new CEO, Kees Bol, formerly of Boundless Learning/POLS, and is now entering a new chapter.
What was particularly notable during this turbulent period was its success in securing partnerships with UK universities. In the past 18 months alone, three partnerships have been established, which is fascinating given the backdrop of such public turmoil. In the short term, the key question will be how these partnerships perform against the most critical metric for all OPMs: student recruitment and retention. Equally, it will be interesting to see whether 2U continues its recent success in developing UK university partnerships and expands its foothold in this market.
CEG Digital
The past year or so has seen a notable decline in the number of partnerships CEG Digital has with UK universities. Since the mid-2010s, the company established over ten partnerships, but as of early 2025, this number has shrunk considerably.
The most recent financial statements (as of 31 August 2023) indicate a deteriorating financial position. While revenue increased, this was offset by a rise in administrative expenses, reaching £16.8 million, resulting in a £4 million loss. More concerningly, CEG Digital’s short-term liabilities rose to £25 million, and it is one of the companies in this space that relies heavily on its parent company. The consequence of this financial position appears to have been a driver in reduction in partnerships and staff headcount over the last 12 months.
CEG Digital is certainly not the only OPM company to have faced difficulties in recent years or to need to reassess its position. However, on a more positive note, the company does have a small number of newer partnerships, with King’s College London and the University of Southampton, that it can focus on as it moves into a new phase of servicing a smaller number of partners.
Risepoint
Risepoint will be an unfamiliar name to many in UK higher education, but in terms of its partnerships with UK universities, it is essentially the former OPM arm of Wiley. In late 2023, it was announced that Academic Partnerships, a major US OPM, was acquiring Wiley’s OPM business, Wiley University Services. Following this, Academic Partnerships rebranded as Risepoint.
At present, Risepoint is continuing to manage the UK university partnerships previously established by Wiley University Services. Like other companies mentioned here, this marks the beginning of a new chapter in the UK. The key short-term questions are whether the company will retain its existing partnerships, particularly as all are now over five years old, and whether there is an appetite to develop new partnerships with UK universities. It’s too early to judge those things but this will be a company to watch in the next year or so.
Kaplan Open Learning
Kaplan Open Learning is not the most visible OPM company but has a couple of significant partnerships with UK universities. It operates slightly differently from others, running these partnerships as affiliate colleges in collaboration with its university partners, one of which is registered with the Office for Students (OfS).
It is unclear whether the company has genuine ambitions to expand its number of partnerships beyond the current ones. Nevertheless, if recent accounts are anything to go by, it can point to being profitable, something few in this space can claim. The company also appears confident about future recruitment performance for its partners while acknowledging the increasing competition and associated costs.
Skilled Education
Skilled Education is the most recently incorporated company featured here, having launched in 2020. Since then, it has provided online education services to UK universities and established a significant partnerships with the University of Hertfordshire and the University of the West of England.
After taking little time to establish these partnerships, it will be interesting to see whether the company looks to expand further and successfully secure new partnerships or instead focuses on consolidating its existing relationships in the short to medium term.
FutureLearn
FutureLearn is now well into a new phase under the ownership of Global University Systems (GUS). Since then, there has been a much stronger focus on online degrees, driven by two key changes. Firstly, GUS’s OPM business, InteractivePro, has been folded into FutureLearn, giving the company full-service OPM capabilities. Secondly, the platform is now being used as a way for universities to list their online degrees and generate leads for these programmes.
Both of these changes have led to new partnerships with UK universities, on the OPM side, with the University of Roehampton, and across multiple institutions for online degree listings. The company is now on a much stronger strategic and financial footing. It likely still has the strongest brand awareness in UK higher education and currently holds the highest number of UK university partnerships, with around 40 in place.
There is clearly strong demand for OPM partnerships among UK universities, and FutureLearn appears well positioned to expand its number of partnerships further.
OES
OES is an Australian OPM company that has been operating in the UK since 2018, working with several UK universities to provide online education services. In early 2024, the company announced its first new major long-term OPM-style partnership with a UK university, securing a partnership with Aston University. While OES had previously inherited partnerships through a company acquisition, this marks the first major one it has established in the UK.
This is a significant milestone that strengthens the company’s presence in the UK. It remains unclear whether OES aims to develop a large number of partnerships with UK universities, but as a company that has not experienced the turbulence and upheaval seen by some others, it is arguably well positioned to support the growing ambitions of UK universities to expand their online provision.
Reflections on the UK higher education OPM market
We are at an interesting juncture in online learning within UK higher education. The need for diversification is driving greater interest in online learning and a perceived need to expand online provision. This is increasing the appetite for partnerships among institutions with significant ambitions that feel unable to achieve them alone. As a result, partnerships continue to form, contributing to an increasingly competitive landscape.
This creates a paradox for companies. On one hand, there is a clear need for the capabilities that OPMs and other online education companies offer. On the other, growing competition, alongside the effects of inflation and rising digital marketing costs, is making it harder for OPMs to generate the scale of enrolments that satisfy their university partners and make the entire endeavour financially sustainable and profitable.
Having examined various companies’ accounts and observed recent turbulence in the market, there is an ongoing question about the long-term viability of the OPM business model. Ironically, the upfront investment and risk-sharing embedded in the traditional OPM revenue-share model align well with where many universities with online ambitions currently stand. However, whether this model can reliably deliver profitability for companies is another question entirely.
In recent years, the market has undergone a shakeout, with significant company change and disruption. While some of this has stabilised, there remains a degree of precarity, with the potential for further financial difficulties or the loss of university partners. The next year will be telling for many companies and for the sector as a whole. The key question is whether OPMs can successfully deliver recruitment and retention outcomes across a growing number of university partners, while operating in an increasingly competitive environment, in a way that is both financially sustainable and profitable.
