How Does Udemy Work – Business and Revenue Model Explained
What is Udemy?
Udemy is the place to learn. Students get access to 155000 online courses and 40 million students. They can access ‘courses’ for software development, IT, design, and leadership to communication skills. Udemy puts most in-demand content to help you upskill your skills and learn from extremely respected real-world practitioners, thought leaders, and specialists from around the world.
Pros: What Are the Benefits of the Udemy App?
- It is helpful for students, professionals to gain additional skills.
- It helps professionals make ‘key’ career decisions by enhancing their skills.
- It helps students to complement their studies.
- It offers free and paid courses (features vary accordingly).
- It helps individuals looking to publish their courses.
- It is multi-lingual. Thus it helps students who are non-native English speakers.
- It acts as a destination for corporate sector companies for employee training.
Features of Udemy App
- Users can stream courses, hear audio lectures, and view course materials.
- Users can discover and explore relevant content.
- They can see archived or favourite courses with just a few taps.
- Udemy helps optimally learn with the capability to take quizzes or practice exams on your handheld device.
- Kids can download and see lessons offline.
- They may choose the video resolution for offline content and manage the file size.
- They can set their own pace and choose different speed options.
- Interact with instructors through the question and answer feature.
- They can multitask while learning.
- They can even listen to course lectures in the background.
How Does Udemy Work?
Udemy works to create new possibilities for people and organizations. Their global marketplace features an extensive – multi-lingual library including thousands of expert-led courses.
Convenience: Udemy works because selecting courses is easy, and there is no limit on completing the ‘course’ or the number of ‘courses’ that you can avail.
Variety: Udemy has tutors from different countries for all subjects from – (1) business – (2) computer (3) science – (4) arts – (5) literature – (6) journalism – (7) mathematics – (8) Science – (9) English – (10) Communication etc. It allows students to select and learn whatever they desire.
It’s affordable: All Udemy courses start from as little as $9. A variety of discount coupons are available along with seasonal offers on particular ‘courses’; Users get certifications on successful completion of a course, like .pdf or .jpg files; Users can pay conveniently with any mode of payment.
Certification: Students get an online certificate upon successful completion of a course. They can save their ‘certificates’ in image or portable disc format, which they may use later in resumes or on their LinkedIn/Facebook/Twitter profiles.
Udemy Business Model and Revenue Model
- Udemy practices a marketplace business model.
- It organizes its products and services according to the instructors and categorizes them on its website as subject-wise courses. It only acts as a mediator and does not own such ‘courses‘;
- Udemy does not charge anything to create or host a course. It is free. But they urge users to keep an eye on the instructor’s terms and conditions for additional information regarding revenue share and a summary of transactional sales.
- Hence, it charges a percentage for showcasing such courses as commissions for providing sellers with a platform and an audience to sell its services.
- It has paid and free courses which students can channelize according to their wish and need. Udemy sells content on-demand, and the tuition charge depends on the instructor. Instructors can earn 97% of all tuition revenues if their reputation or marketing attracts the student.
- Udemy retains 50% of all earnings if the Udemy website’s marketing attracts a student.
- The instructor earns 25% of the tuition when Udemy’s affiliate (promotional) attracts the student (the affiliate ‘earns’ 50%; the remaining 50% is ‘split’ between Udemy and the instructor).
- Instructors receive 37% of the revenue for any Udemy sales (which do not occur through an instructor promotion) without any coupon or course referral link; as a user clicks on a Udemy advertisement or browses the Udemy marketplace for courses.
Frequently Asked Questions
1. What do Udemy Courses Include?
Every Udemy course contains lectures, videos, text descriptions/transcripts, and slides. Instructors can add their inputs and assign practice activities to enhance the overall learning process and experience of the students;
2. How Should I Take An Udemy Course?
Udemy offers courses on demand. Users can begin the ‘courses’ when they like, and they do not have to abide by any deadline to complete them.
Users can access such courses from any device – desktop computers, mobile phones, laptops, smart TV etc.
As users enrol into a course, they can access it by clicking on the course link, and they will receive a confirmation link on their registered email-id. Once they confirm, they can begin the course by logging in and navigating to their “My learning” page.
3. Are There Any Deadlines To Complete A Course?
No, there are no deadlines to complete any of the courses. Users can pause and resume the ‘course’ as they wish. Even after a user completes a ‘course’ – they can come back and access it. Udemy continues to have a license to the ‘course’;
4. Are Udemy Courses Credible?
Yes, Udemy courses are accepted worldwide.
5. Can You Preview A Course?
Yes, Udemy lets you preview the course. You may follow the steps to preview a ‘course’ and review ‘key’ information about it.
6. Can You Return or Exchange A Course?
If you don’t like any course, you can request a refund within 30 days of purchase. But such a request should meet the guidelines in Udemy’s refund policy. Check out the steps to follow.
7. Is help Available?
If users get stuck with any course, instructors are available upon request. More information is available in Udemy’s ‘Help Center’;
8. Are the Udemy Courses Affordable?
The courses range from $9.99 to $199.9, which makes them accessible.
9. Can Udemy Courses Get You A Job?
Yes, they are efficient and enhance your skills. If you are actively hunting for a job, foray into any of these and try your luck.
10. How Much Does It Cost To Create An App Like Udemy?
It falls in the bracket of $35,000 – $1,20,000 considering all the – (1) features – (2) scalability – (3) payment methods – (4) user accounts – (5) advertisements – (6) promotions – (7) marketing – (8) categorization – (9) technology stack and databases.
Conclusive: Is It the Right E-learning Platform for You?
Udemy offers lots of different skills to discover. As they offer to learn on-demand and within budget, it is one of the most sought-after platforms for online learning. Users get certificates for paid courses, which they can showcase as their accomplishments. Udemy offers collaboration with affiliates, and corporates, which brings about a sense of credibility to this online learning platform. If you are looking to build an app like Udemy, let our mobile app developers help you. Feel free to approach us!
