Bloomberg Media has scored 20% growth in Q3 revenue YoY and is working on delivering an improved digital experience to its audience.
The total growth reflected a 25% increase in total advertising revenue, “the ninth consecutive quarter of growth in this critical area,” Bloomberg Media CEO M. Scott Havens wrote in a message to staff, according to Talking Biz News.
During the quarter, new elements in its audience-first business strategy, “charting the course for a modern digital experience for users and brand partners,” Havens continued.
Havens added, “In the coming year, we’re ending open-market third-party programmatic ad sales to our audience on Bloomberg.com, we’ve already introduced a new suite of first-party ad targeting products called Audience Accelerator, and we’re working hard on tightening our value proposition and improving our user experience.”
There are now more than 450,000 Bloomberg.com subscribers, thanks in part to the enterprise subscriptions business started by the firm earlier this year.
While not releasing actual sums, Havens announced these stats:
Bloomberg’s teams have also launched “ smarter ways to better onboard and engage users this year, including the launch of our registration strategy, allowing us to leverage critical first-party to personalize the experience for our audience and provide precision targeting for our advertising partners,” Havens says.
There also was +34% growth in digital video revenue. As that number suggests, “we continue to see strong editorial and commercial opportunity for both our breaking news coverage and our original documentary-style formats,” Havens continues.
Bloomberg had not responded to request for comment and confirmation at deadline.