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Independent Publishers Navigate Challenges in a Post-Pandemic Landscape
The landscape for smaller independent publishers has become increasingly difficult since the pandemic. Escalating costs paired with stagnant sales have forced many of these publishers to tighten their budgets, often at the expense of marketing initiatives. In contrast, larger publishing houses have the advantage of acquisitions, allowing them to streamline operations and safeguard profits—an option that is typically unavailable to indie presses. As a response to these challenges, several independent publishers came together in February to form two collaborative groups: the Stable Book Group and the Publishers Cooperative. Ulysses Press owner Keith Reigert, actively involved in both initiatives, emphasized that the aim of the Publishers Cooperative is to foster collaboration to enhance economies of scale.
The financial strains affecting independent publishers likely contributed to a notable decline in submissions for PW’s annual fast-growing feature, with only five publishers qualifying this year. Similar to past editions, publishers with annual net sales between $2 million and $10 million that demonstrated growth in 2024 compared to 2022 were eligible to participate. These publishers provided data on sales, titles, and workforce for consideration.
Highlights of Fast-Growing Publishers
Collective Book Studio Oakland, Calif.
Angela Engel, who previously held senior positions at several notable publishers, established the Collective Book Studio (CBS) in 2019, focusing on what she terms “partnership publishing.” Although the pandemic initially disrupted her plans, the company has shown resilience, expanding its offerings to include children’s books, adult titles, audiobooks, and stationery. Despite a consistent title output over the last three years, CBS achieved remarkable success in 2024, with a revenue increase of 55% compared to 2023.
Engel highlighted the success of CBS’s diverse product categories in contributing to what she called a “banner year.” Outstanding titles included Friday Night Cocktails: 52 Drinks to Welcome the Weekend, which is now in its fourth printing, and Houseplants and Their F*cked-Up Thoughts: P.S. They Hate You, both of which gained traction in the gift market. Another key release was Nosh: Plant-Forward Recipes Celebrating Modern Jewish Cuisine by Micah Siva, along with the New York Times bestseller The Fly Who Flew to Space by Lauren Sanchez, which benefitted from significant marketing partnerships.
Children’s titles like The Sea Hides a Seahorse and Patterns, Patterns, Everywhere performed well across libraries, schools, and gift retailers, further diversifying CBS’s successful backlist.
Diversion Publishing New York City
Diversion Publishing is carefully expanding its portfolio, achieving a revenue increase of 12% in 2024 compared to 2022. The publisher has broadened its genres to include sports, entertainment, health, and true crime, while also venturing into fiction. Enhanced audiobook offerings, including a new partnership with Recorded Books, have played a significant role in this expansion.
Despite its cautious growth strategy, Diversion aims to double its annual title output by 2026, having recently hired new editors. The switch from Ingram to Simon & Schuster for distribution marks another strategic move for the company.
Upcoming titles in 2025 will include high-profile publications like Son of Birmingham and Chief Rondo: Securing Justice for the Murder of George Floyd, with a planned first printing of 50,000 copies each, aimed at capitalizing on current cultural conversations.
Forefront Books Nashville
Launched in 2018 by industry veteran Jonathan Merkh, Forefront Books has seen a steady sales trajectory, although it experienced a minor dip in 2024 due to late shipments impacting returns. Nonetheless, the publisher marked a 28% sales increase over two years.
Noteworthy titles from the past year included bestseller hits such as Fire in the Hole! and By the Time You Read This, with significant contributions from direct-to-consumer sales. Forefront plans to expand its title release to as many as 80 new publications for 2025, capitalizing on strong performance trends.
Merkh expressed particular enthusiasm about upcoming projects, notably one by social media influencer Terri Ijeoma, whose book The Risk Worth Taking intertwines trading and personal narrative.
Spiegel & Grau New York City
Spiegel & Grau celebrated a remarkable 2024, achieving a 136% increase in sales since 2022. Co-founders Cindy Spiegel and Julie Grau have cultivated a multifaceted publisher since its inception in 2020, emphasizing a comprehensive approach that includes various media formats.
The company released multiple titles across formats, including audiobooks produced in collaboration with Spotify, while also witnessing substantial growth in e-book and hardcover sales. Major titles like The Comfort of Crows and Go as a River were among their bestsellers. As their backlist continues to expand, Spiegel & Grau plans to reinforce its audiobook offerings while introducing new print publications in the coming year.
Magic Cat Publishing London
Though typically focused on U.S. indies, this year’s PW fast-growing list includes Magic Cat Publishing from London, which saw a substantial sales increase in the U.S. market, accounting for a significant portion of its overall revenue.
Founded in 2019, Magic Cat has expanded its U.S. presence thanks to successful partnerships, allowing it to commission diverse and culturally relevant works for young readers. Upcoming releases will continue to reflect their commitment to representation and thought-provoking topics, with a variety of anticipated titles set to launch this fall.
These independent publishers showcase the resilience and adaptability of the publishing industry, navigating a challenging environment while delivering innovative content to their audiences.
A version of this article appeared in the 03/17/2025 issue of Publishers Weekly under the headline: Fast-Growing Indie Publishers.
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