The seven publishers on this year’s list are a mix of veterans and newcomers.
Though this year’s list of fast-growing independent houses counts only seven publishers, entrepreneurs looking to crack into publishing should not be too discouraged. The two fastest-growing publishers on the list are relatively new, proving that even in an era when publishing models are in flux, people with good ideas and the ability to execute them can make a mark on the industry…
New York–based Morgan James Publishing’s growth was led by sales in its core category, business books. Frontlist titles DotCom Secrets, Entrepreneur’s Solution, Shareology, and Common Thread of Overcoming Adversity and Living Your Dreams all sold well in trade paperback, says David Hancock, president of the company, while a number of backlist business titles continued to be popular. Morgan James, which opened a number new imprints in recent years, did not start any additional imprints in 2015, but its more recent imprints did have some solid sellers last year. Masked Saint was Morgan James’s top fiction seller, while Dance with Jesus led its faith division. Mermaids on Mars, which did well in a number of nontraditional outlets such as Pottery Barn, was the bestseller in the children’s division.
E-book sales were down a bit in the year, particularly in nonfiction, but a rise in trade paperback sales more than offset the decline, Hancock says. E-books accounted for about 15% of the publisher’s nonfiction sales last year, down from 25% in 2014. E-books sales of fiction rose slightly and accounted for 50% of fiction sales.
Morgan James has continually experimented with different ways to reach the market, some of which have worked, while others have been a disappointment. The publisher scaled back its audio business last year because of weak sales, but its speakers group had a small profit, Hancock says.
Morgan James was an early user of Aerbooks’ direct-to-consumer platform, and though its relationship has brought it attention from agents and authors, sales have been slow. Hancock is hopeful that following the purchase of Aerbooks by Ingram, sales will pick up. The publisher’s deal with Shelfie to combine e-book and print purchases has worked better, Hancock says. “Name and email captures continued to rise,” he notes. The authors and Morgan James are using those names to build relationships with readers.
Morgan James has always specialized in publishing entrepreneurial authors, offering small advances and higher royalties, and having authors commit to buying a certain number of books at an author rate. Though that has worked well, Hancock says the company spent six months working with the Authors Guild to make its author agreements more “author friendly,” with greater transparency.
Morgan James expanded its geographic footprint last year. It opened a satellite office in Nashville, and Hancock hopes to establish a London office this year.