Bloomberg targets $100M in subs, Mirror Online grew by 1B page views, and more… The Media Roundup

What's New in Publishing 10 Feb 2021 08:00

Bloomberg Media targets $100 million in subs with niche verticals

According to an internal memo from CEO Justin Smith, Bloomberg Media is expecting to bring in at least $100 million in consumer subscription revenues in 2021.

Forecasting 400,000 consumer subscriptions for 2021 compared with 250,000 last year, Bloomberg’s growth strategy hinges on the launch of niche verticals. Bloomberg Wealth, a personal finance vertical launched last September has been cited as an important driver.  Other verticals focus on health care, cars, climate, cities and the business of entertainment.

Three years ago, Bloomberg had no consumer revenues to speak of, making its money (lots of money) from $20,000 enterprise subscriptions to data and content services on the Bloomberg Terminals. But following the launch of its consumer business in 2017 and a 135% revenue increase in 2020, the company sees, “a clear path toward making subscriptions a nine-figure business in 2021”. It’s a narrow, some might say niche, path.

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