Bloomberg Media is planning a major expansion into localized coverage of different regions around the world, CEO Scott Havens told Axios reporter Sara Fischer.
Fischer writes, “The company is beginning to assess markets with relatively high GDPs and areas where it has an existing footprint, including France, Germany, Japan, Malaysia and parts of Africa, beginning this year.
- The idea is to strengthen the company’s commercial opportunities in places where Bloomberg Media already has an existing footprint by creating customized versions of existing products, and some news ones, tailored to each region.
- This approach will depend heavily on investments in technology, Havens said, including tech that can translate some of its global coverage to local audiences using voiceovers and digital text translations.
“Some markets will leverage a similar strategy to that used by Bloomberg Media when it launched its foray into the U.K. earlier this year by hiring dozens of in-house talent on the ground to compete directly with the local press.”
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