Bloomberg Media is celebrating a successful first half, judging by a staff memo sent by Karen Saltser, CEO of Bloomberg Media.
Saltser lists the following
accomplishments:
- +7% YoY increase in total revenue
- +6% YoY growth in cross-platform audience
- +16% YoY growth in paying
subscribers across digital and print
In addition, Bloomberg is up +8% in subscription revenue while adding almost 100,000 new paying subscribers for a total of 660.000.
“One year ago, we green-lit an enhanced commitment to accelerate the growth of our subscriptions business, focusing on opportunities across product, engineering, editorial, marketing and
group sales,” Saltser writes. “That investment is paying off.”
Saltser continues, “We moved many of our newsletters behind the paywall over the last year, launched 30
new ones in that time, and grew to 3 million unique monthly newsletter subscribers, up +26% YoY.”
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In addition, Bloomberg experienced a +6% rebound in total
advertising (which includes core advertising and events sponsorships). “Core advertising grew 3%, driven by partner interest in all of our products,” Saltzer adds.
Granted, Saltser does not provide actual dollar figures in this memo. That said, she also states that events revenue increased by +19%. Bloomberg also saw the following:
- +3% increase in video – a robust offense across linear, digital + streaming
- +12% boost in display (Bloomberg.com, Bloomberg app,
print)
- +15% rise in audio advertising, with podcasts soaring by 40%
Saltzer adds, “Our core markets — North America (+7%) and
Europe (+30%) – as well as growth markets such as the Middle East & Africa (8%) grew in H1. APAC, which was slower to grow in the first half, is showing good momentum in Q3/H2, with
accelerated pacing and bookings to close the year.”
Finally, she notes that
Bloomberg Businessweek “celebrated its one year anniversary as a monthly
print magazine in June, while still delivering digital articles at the top of our charts for user-to-subscriber conversion rates."