‘Bullish that it will be higher’: Bloomberg Media Studios has grown revenue 30% year-on-year
Bloomberg Media Studios, established in 2017 as one of the earlier examples of a publisher evolving its content studio to be more consultative for ad clients, has grown revenue by 30%, year-on-year and global headcount is more than 25 employees. That growth is thanks to launching new ad formats to expedite campaigns, working with new clients in different sectors and drawing on its data chops to create longer-term campaigns tied to consumer behavior change and trends for brands to own.
In April Bloomberg Media launched a suite of services called Rapid Response, essentially a template of social video ad formats, where clients like IBM and software company Atlassian can get a video ad live on Bloomberg Media ecosystem between 48 hours and one week.
Revenue growth is attributed to the clients opting for this suite of services as well as other clients increasing marketing spend, knowing that content production and investment during a recession is key. Bloomberg Media has also spun up new verticals, like Bloomberg Green (climate change and the green revolution) and Bloomberg Wealth (personal finance). The former especially, has introduced the publisher to new and different brands outside its core sectors of business and finance.
The publisher wouldn’t share exact revenue figures but global head of Bloomberg Media Studios Ashish Verma is “bullish that it will be higher than that [than 30% year-on-year growth by year end] at a time when other [publisher] content studios are shrinking.”
“Clients come to us to combine strategic data science and creative in order to own this white space and truncate that in a way that’s more powerful for the audience and the brand,” said Verma. “As a result, we are seeing a movement for clients coming to us for leadership platform development, that is where the future is going, how we create these applied leadership platforms powered by data.”
Instead of offering a traditional campaign marketing, Hyundai’s latest hydrogen-powered car, Bloomberg Media Studios — which has worked with the automaker for years — looked at data from Bloomberg Media’s 300 business analysts, data from the Bloomberg Terminal and proprietary studies to find a gap for Hyundai to position itself as the brand talks about hydrogen as the next-generation clean energy for cars. Bloomberg created a Hyundai branded, data-driven H2 index so users could view hydrogen usage data for 14 countries across 5 industries and then even deeper across multiple sub-categories. A series of infographics and videos accompany the index to explain and demystify hydrogen fuel across a range of themes and issues.
“When you land at that white space you pivot from talking about a product to talking about a platform, which is much more long-term and owned by both Bloomberg Media and Hyundai,” said Verma. “You’re talking about a global point of view and you can own the shift in behavior.”
The disparity of coronavirus-induced impacts is growing. Bloomberg Media has a client roster heavily weighted to B2B clients like tech and …read more