The Perseus Books Group had “strong” financial results for the fiscal year ended June 30, 2013, results which “surpassed our budgeted goals,” company CEO David Steinberger wrote to Perseus' 675 employees in his letter looking back at the publisher’s performance. Steinberger attributed the gains to “great independent publishing by our in-house imprints, by our joint venture partners and by the clients we serve.”
In reviewing some highlights at its divisions, Steinberger pointed to “growth and critical acclaim” at Basic Books led by such titles as Consider the Fork and an “increasingly impressive science list.” He also noted the re-signing of several franchise authors for new books, including Richard Florida, Leonard Sax, Bee Wilson, Leonard Susskind, and Eric Topol. PublicAffiars big hit in fiscal 2013 was The Great Deformation and Steinberger noted that the imprint’s big acquisition in the year was a deal with the Economist to launch Economist Books in 2014. Perseus’ publishing agreement with the Nation Institute resulted in the release of the much-praised Dirty Wars (one of PW’s top 1o books of 2013).
Revenue and profits were over budget at Avalon, led by print and digital sales in the travel imprints of Rick Steves and Moon. Seal Press at its first New York Times bestseller, Yogalosophy. Da Capo Press and Da Capo Lifelong Learning Books has three Times bestseller. The Running Press Mini division had a :”banner year,” Steinberger wrote.
In the distribution side of the business, Perseus Distribution had “very strong results” with bestsellers from such publishing clients as New Press, BenBella Books and Regnery. Consortium had “another award-filled year,” and PGW “continued to garner bestsellers and prizes,” Steinberger reported. One of the major achievements in the year was the creation of Legato Publisher Services which will begin selling client titles soon under the leadership of Mark Suchomel.
Perseus’ Constellation digital platform hit a number of milestones in the fiscal year, including signing its 400th publisher, passing 30,000 active titles and digitally printing its 2 millionth book.
“I’m proud of what we have accomplished working together on our mission to enable independent publishers to reach their potential, and I look forward, like all publishers, to the new lists, and new discoveries of our next season together, and the season after that,” Steinberger concluded.
