What Makes Udemy Successful? Udemy’s Business Model And How It Generates Revenue – A Deep Analysis

submitted 2 years ago by Bsetech to business

Udemy is a course marketplace. In simple terms it is a digital learning platform that offers a wide range of hard skills, soft skills, and non-degree courses. The platform provides more than 150,000 courses which include categories like Design, Photography, IT & Software as well as Business and Entrepreneurship. Udemy is a platform for instructors to create and market their own preferred courses. An instructor can make use of Udemy’s course development tools, they can upload videos, PowerPoint presentations, PDFs, audio, ZIP files and live classes to create courses. The important elements of Udemy are the learners and the instructors, these are mutually inclusive and both are equally important for the success of Udemy.

So, now we know what Udemy is? But what made it a pioneer in the digital learning platform? How does it work? How does it generate money? Let’s see.

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Udemy’s Business Model:

Udemy adopts a freemium revenue model. Freemium is a business model in which a company offers basic or limited features to users at no cost and then charges a premium for supplemental or advanced features. So basically Udemy is free to sign up and access the free course. This is an excellent marketing strategy to bring learners in, because once they enroll in a free course, there is a 70% chance of conversion from free to paid course, by seeing the quality they offer.