According to leaders of the publishing industry, the crowded market allows investors to be picky about where they direct their funding. Publishing experts speaking at a Digital Book World Conference agreed that investors are on the hunt for the most promising and innovative publishing companies. Start-ups that provide valuable content with strong potential to generate revenue attract the most investors.
Innovative people with the drive to create something new are constantly founding new companies that aim to publish and distribute content. Unfortunately for them, the competition is fierce, and it’s difficult to come up with completely new ideas. Even so, a few companies have managed to stand out with their ground-breaking approach to the business.
Innovative Publisher Sourcing New Ideas
Sourcebooks, an indie publisher established in 1987, has been originating new ideas from the get-go. Instead of choosing a niche market and compulsively clinging to it, the company has repeatedly enlarged its focus. At its inception, Sourcebooks published finance titles, but within a few years, it expanded its focus to include gift books and beauty-tip books. After a while, the company’s areas of specialty broadened to cover an unrelated range of categories, such as romance, mysteries, children’s books, and nonfiction. Avoiding niche publishing has yielded success; the company has grown exponentially, acquiring other companies over the years.
Recently, in an inspired move, Sourcebooks created a partnership with Wattpad, the digital writing and reading community. On Wattpad, aspiring writers post their original texts, to which readers respond through comments. Editors gain the advantage of using those comments to judge how popular a book will become.
Sourcebooks has eased the path toward discovery of new authors by launching its Submit2Sourcebooks program. Writers can submit to Sourcebooks simply by including the tag, “Submit2Sourcebooks” on the writings they post on Wattpad. By streamlining the submission process, Sourcebooks has multiplied its opportunities to unearth the most promising new authors.
Creative Publishing on Fire
Fahrenheit Press, an indie publishing house started by a publishing veteran, has proven itself completely creative, if not outrageous. The business’s mission is to do things differently, from unique curation to numbers-based marketing.
The company has been fulfilling its mission: in the world’s first “transmedia” release, it simultaneously published a book with an accompanying song. It also persuaded Amazon to sell a book that lacked a title, author, cover, and blurb—and managed to presell two hundred copies of that book! Additionally, Fahrenheit created an in-house book club and has successfully fought to publish more female crime writers. This successful company is planning to publish fifty books within its first year of existence, showing that its creative slant pays off.
Fahrenheit and Sourcebooks provide proof that investors need not despair; innovation in publishing is not dead. Publishing companies that bring a different approach to the market deliver new and exciting content to the reading and listening public.