NEW YORK, Dec 3 2021 / PRNewswire / – A newly formed group of investors today announced the acquisition of Open Road Integrated Media, Inc., the publishing industry leader in the application of proprietary technology to the science of data to the marketing of books. David steinberger, who was previously CEO of Arcadia Publishing and before that CEO of Perseus Books, and who is also President of the National Book Foundation, will initially be Executive Chairman of Open Road, working closely with the CEO Paul slavin. The two will work together to ensure a smooth leadership transition, with Steinberger adding the role of CEO on January 1stst, 2022, and Slavin continues to work closely with the company in an advisory role going forward.
Founded by the former CEO of HarperCollins Jane friedman, Open Road uses proprietary data science technology to connect readers to books, resulting in dramatic increases in sales. Open Road’s technology platform collects and analyzes vast amounts of data, then recommends and executes tens of thousands of individual marketing campaigns each month. The typical increase in sales for an individual title marketed by Open Road is greater than 100%. The company is currently applying this technology to more than 35,000 eBook titles, including titles it publishes as well as titles it markets as a service to other publishers. The unique capabilities of Open Road’s data science technology platform have enabled the company to grow rapidly, with sales nearly doubling in the past three years.
âData science represents the next frontier in book publishing,â said Steinberger. âThe title-by-title impact on sales is unlike anything I have encountered in my 25 years in the industry. I look forward to working with Paul and his exceptional team to leverage Open Road’s powerful momentum in the market. “
âI came to Open Road with the aim of relying on that of Jane Friedman brilliant idea, âSlavin said. âWe have built a formidable team and a powerful technology and data driven marketing machine that has led to significant growth in revenue and profitability. As David acknowledged, it is a platform that is second to none and the results are up to par. “
Among the investors in the newly formed investor group are media and technology private equity firm Abry Partners; MEP Capital, a media and entertainment-focused private equity fund and publishing partner of Open Road through its investment in Rosetta Books; the leading independent publisher Grove Atlantic, which is also an editorial partner of Open Road; and a number of leading individual investors in publishing and finance.
âWe have been working with Open Road for several years now and have seen the impressive results they provide for our titles,â said Grove Atlantic president and publisher. Morgan entrekin. “We are thrilled to be a part of this company.”
âThe combination of proven technology and a very large addressable market of authors and publishers who will benefit from this technology makes this an exceptional growth opportunity,â added Steinberger. “We have brought together an exceptional group of investors to allow Open Road to realize its potential.”
Open Road is the publisher of e-books with more than 10,000 titles, including Collapse towards Bethlehem through Jeanne Didion, Sophie’s choice through Guillaume Styron, The color purple through Alice walker, Bury my heart in Wounded Knee through Dee Brown, Prince of tides through Pat Conroy, and Wonder boys through Michel chabon. Open Road also markets over 25,000 eBook titles as a service to its 70 publishing partners, which include leading publishers such as Grove Atlantic, Kensington Publishing, Europa Editions, Abrams, Workman Publishing and Yale University Hurry.
About Open Road Integrated Media
Open Road Integrated Media is the publishing industry leader in applying proprietary data science technology to book marketing, enabling authors and publishers to find new readers and gradually increase the sales of their books. securities. Open Road brands include Early bird books, a daily newsletter on e-book offerings and a website; Programming, for fans of real crime, horror, mystery and paranormal; The Portalist, for fans of science fiction, fantasy; Murder and chaos, for fans of mystery and thriller; Archives, for fans of history and non-fiction; Such a true love, for fans of romance; Bloodhound Books, a UK-based commercial fiction publisher; Open road media, a global eBook publisher whose catalog includes legendary authors such as Joan Didion, Graham Greene, William Styron, Alice Walker, Pat Conroy, Gloria Steinem, Octavia Butler, John Jakes, Pearl S. Buck, Walker Percy and Ruth Rendell ; and Ignition on open road, a service for book publishers that dramatically increases sales using Open Road’s proprietary data science technology, and whose 70 publisher partners include industry leaders such as Grove Atlantic, Kensington Publishing , Europa Editions, Abrams, Workman Publishing and Yale University Hurry.
Contact: Mary mcavey
Open Road Integrated Media
SOURCE Integrated Open Road Media