What do you do when you've conquered Wall Street? You become mayor of the city the famous financial district calls home. After leading his financial news and information company to success, Michael Bloomberg left to run the Big Apple. His namesake company remains a leader in the market for business media. Its core Bloomberg Professional Service offering is accessed through terminals that provide real-time financial news, market data, and analysis. The firm also has a syndicated news service, publishes magazines (including Bloomberg Businessweek), and disseminates business information via Bloomberg Television, radio, and the Web. Michael Bloomberg founded the company in 1981; he owns a majority of the firm.
Bloomberg has employees in more than 190 locations around the world. It has four bureau headquarters, in New York; Washington, DC; London; and Tokyo.
Bloomberg's content is fueled by the Bloomberg News division, which employs 2,400 journalists in more than 150 bureaus and 70 countries. It has multimedia operations that include radio, television, and interactive divisions, as well as a syndicate that provides news to 420 publications in 65 countries.
The flagship Bloomberg Professional Service serves some 320,000 subscribers in 175 countries.
Sales and Marketing
Bloomberg relies primarily on subscription sales rather than advertising. Customers work in the financial industry and include banks, broker-dealers, hedge funds, fund managers, and government agencies. The company charges a monthly fee per terminal for multiple system clients; its data can be accessed on PCs and mobile phones via the company's Bloomberg Anywhere offering. Bloomberg also distributes financial news and information through other media channels in an effort to build its brand and keep up with the competition.
In 2014 Bloomberg launched a data-driven content marketing solution designed for its advertising partners. The solution, called Bloomberg Denizen, combines journalistic expertise with data-driven consumer insight to create content that is micro-targeted towards the professionals most Bloomberg advertisers aim to reach.
As more and more people get their news and information from non-traditional sources, including social media, even market leaders like Bloomberg can find themselves fighting over shrinking audiences.