Bloomberg on track to break its advertising record

Campaign 20 Aug 2021 09:31

The consumer-facing arm of Bloomberg expects to have its strongest ever year of advertising revenue, with European sales outperforming global figures.

The multimedia company grew advertising revenue in Europe by 62% in the first half of 2021, driven by strong demand for digital advertising (up 79%), which is Bloomberg Media’s largest advertising revenue line. The company did not disclose actual revenue figures.

Bloomberg operates a wire service (Bloomberg News), a global television network (Bloomberg Television), the streaming service Bloomberg Quicktake, events, websites, radio stations (Bloomberg Radio), subscription-only newsletters and magazines. It employs 20,000 people worldwide.

Global advertising and events revenue grew by 73%, including a 47% lift in "core advertising". Digital advertising revenue was up 59%, TV advertising grew by 30%, radio advertising was up 35% and print advertising grew by 28%. 

A European breakdown of advertising revenue lines was not available.

The three advertising categories that showed the largest growth are luxury goods, automotive and financial services.

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