Bloomberg Media restructures to boost ad sales

Bloomberg Media is restructuring its sales and marketing divisions around industries like tech, finance, auto, luxury and consultancy, rather than geography, to streamline operations and strengthen its appeal to advertisers, reports Mark Stenberg of Adweek.

Stenberg writes, “To lead the newly reorganized divisions, Cook created two new jobs and made four key hires: Mike Wong, Andrea Ching, Felippe Velloso and Julia Clyne. Anne Kawalerski, who formerly ran the integrated marketing team now run by Ching, will now lead a Client Innovation Team and stand up the new Bloomberg Client Council, both of which seek to draw core advertisers closer into the fold.

“‘A lot of these moves were intended to examine the organization and figure out how we can give people discrete [ownership] over processes,’ Cook said. ‘This way, when someone calls, they are always calling the same person.’

“The shifts come on the heels of a difficult year for the digital advertising industry, a challenge compounded for Bloomberg Media by its decision in January to remove open-exchange programmatic demand. The strategy aims to bolster its direct sales efforts and improve the user experience—which, in turn, could improve its subscription business—but has led to an expected decline in ad revenue.”

Read more here.